The Home Inspection WAR of Buyers vs Sellers! It is time for you to speak out - 2011 December Blogging Challenge DAY 21
I am having a busy week getting ready for Christmas, but I want to share some great post with you all.
So not a lot of intro or my usually local lead in. Just some great post for you this week.
Merry Christmas!
On the 21st day of the December Blogging challenge i was faced with a real challenge alright. The latest trend is for buyers to attempt to renegotiate after the home inspection. It does not seem to matter if the home is sold "as is", if the home is in like new condition, if it was just renovated or needs a ton of work.
In this particular case the home was completely redone on the inside. The negotiations of the offer were long and hard on the buyer, the seller and the agents involved. They negotiated down to the last dollar with no one budging for days. The buyer offered a real low offer and then asked for more work to be completed in addition. After 2 weeks of going back and forth, they agreed on a price and terms of what additional work they the seller would complete.
Then the home inspection is completed shortly after. Then here comes the list, a page of new items the buyer wants addressed. the seller has a meltdown, the buyer stands firm and closing was supposed to be next week... In my opinion when you make a real low offer it is becuase you are accepting the property as it is. You know that there is some work needed and you are willing to complete it for the privledge of getting it at this low price. The buyer could have all the work completed and pay at or near the asking price but that is not what they choose.
Here is where you come in...
Should there be a new negotiation after the home inspection?
In my case it is not as easy as saying of course there should. My rule of thumb is what you can see with your naked eye should be addressed in your initial offer. Things like paint, worn carpets, screens or a dripping faucet.
What I think is the most important things you may not have know would be those that are hidden such as well, septic, roof, electric.
So give it to me... What is your opinion?
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Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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