Continued from The Second Showing

We were thrilled to receive an offer as quickly as we did, but were shocked to see that it was for less than full price.  Don't these people know how great our house is?  What the heck are they thinking?  This is insulting!  I don't even want to respond.  

Well....maybe it wasn't that bad.  Besides, I always recommend countering an offer no matter how ludicrous the initial offer.  In this case, the buyers were not too far from the number my wife and I expected.  After a couple passes back and forth, we were able to come to a price that was acceptable to both sides. 

Despite having a signed contract, it was still not time to celebrate.  In Kentucky, it is very easy for a buyer to walk away from a deal based on home inspection results.  The buyer can ask for any and all repairs/updates.  At this point, negotiations open up again and unless both parties agree, the deal is cancelled.  Knowing this we were nervous while waiting for the results.

Unfortunately, the radon level in our basement can back at 4.1.  This is 0.1 higher than the EPA recommended range for mitigation.  While it is important to note that the EPA standard is based on multiple short-term tests, cost and time factors generally prevent more than once test while a home is under contract.   

Once the buyers submitted their repair request (including radon mitigation) we had 3 choices

1. Complete all repairs as requested
2. Negotiate which repairs would be completed and who would pay for each
3. Refuse to complete any repairs

Because we were comfortable in our position, we chose option 2.  After a few tense days, we once again reached a consensus with the buyers!

Woohoo! We can finally relax a little.  Two potential roadblocks are left (appraisal, underwriting), but I feel confident in the appraisal and the buyers are pre-approved.  It's never done until the papers are signed and the keys are exchanged, but things are looking pretty good.  Now, where the heck are we going to live?

 Next... The Closing

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Erik Hitzelberger is a licensed real estate agent with RE/MAX Alliance in Louisville. If you need a Bullitt County Real Estate agent please email me or call 502.921.3989.

I specialize in the following areas of the Metro Louisville Area: Jeffersontown (J-Town), Okolona, Fern Creek, Shepherdsville, Mt Washington, Hillview, Brooks and Pewee Valley.  Click the following links to learn more about Louisville and Bullitt County Real Estate or Search for Shepherdsville Homes or Search the entire Louisville MLS.