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It's Not ASIS With Right to Renegotiate!

By
Real Estate Agent with Innovative Realty Solutions Group BK3158345

It's our job as real estate professionals to guide and direct our buyers and sellers to closing. 

We must teach them that as a buyer, they negotiate the price based on the known conditions at the offer stage, then inspect.  At the end of the inspection period, they should release the inspection period or the contract. 

Too many agents advise buyers to put in a high offer and renogotate the price after inspections.  Then if the seller refuses to negotiate, the buyer gets upset. 

I had a deal recently where the buyers took a counter offer $5000 above their last offer price.  After inspections, despite everything being disclosed before inspections, they asked for $5000 in concessions or a price reduction.  The seller said no.  The buyer and seller both lost. The buyer spent money on inspections.  The seller lost time. 

If major and undisclose items become know during inspections, that is different. 

I had a buyer that asked for a certain amount of money at closing because their buyer asked them to repair drywall for a VA inspection recently.  There was no other reason.  

Real Estate professionals must educate your customers. 

 

 

 

Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

mmm.... not sure I agree with that. The counter argument would be that an offer is made on the basis of consideration of facts on the property - at first sight and not obvious to a buyer. Especially if the seller did not voluntarily and/or knowingly disclosed all material facts for consideration. An inspection, or many inspections may bring new facts for consideration - a closer second look. Then the buyer learns that the property is not necessarily as illustrated or described by the seller and/or the listing agent. And sometimes the reality is far from the actual description.

Hell ya, you'll get re-negotiated. And you better be ready for it.

As-Is means ding nothing in the real world. 

Jun 14, 2017 06:33 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

So many folks misunderstand the whole AS IS thing....I wish it didnt exist

Jun 14, 2017 06:49 AM
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

Richard Bazinet /MBA, CRS, ABR , there's a big difference between a seller who failed to disclose something or something that the seller didn't know about from the normal let's just ask for a reduction or credit because I can get away from in mentality. 

 

Jun 16, 2017 02:38 PM