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Negotiating The Contract With The Buyer Inspection Notice (BINSR)
Negotiating The Contract With The Buyer Inspection Notice (BINSR)  
Our friends, Jason Wells, Esq. & Chris Niederhauser, Esq., partners at the Wells Realty & Law Groups, have written this informative legal article in the Keller Williams East Valley newsletter and with their permission, we're delighted to repost it here in ActiveRain.
 
Congratulations! You just got you buyer’s contract accepted after looking for weeks and AT dozens of houses. Inspections are complete and you sit down with your buyers to go over the inspection report. During the inspection there were several “honey do” items such as tightening the hinges on a door, patching a crack in the drywall, a minor leak of the bathroom faucet, etc., all items that shouldn’t be a problem for the buyer to handle. However, the inspector also noted some concerns with the AC, that although functional, it is old and will likely need maintenance soon.
  
Your buyers want to know their options as they certainly don’t want to replace the AC right after they move into their new home. They ask you if they can:
1. Ask the seller to fix the AC
2. Have the AC inspected
3. Ask for a reduction in the purchase price to ... more

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