Inventory levels continue to trail buyer interest in many parts of the Dallas-Fort Worth area, including the Fort Worth real estate market. Sellers have their pick-of-the-litter when it comes to choosing a buyer, which can make the practice of asking a seller to pay for repairs a precarious game. Many buyers look at homes that are considered fixers, but there's a fine-line to straddle when it comes to approaching sellers about repairs prior to closing escrow.
Escrow is a busy time, and ff course, smaller cosmetic issues should be ignored at this point. But if after having a home inspection there are any glaring structural issues, like a roof that needs repairs or a plumbing system that needs attention, it's critical to speak-up now. If you don't, you will inherit the problem and the related costs.
If your'e curious what the best way is to approach a seller about repairs, read on for some sage advice!
- Be Timely: Communication is key in almost all aspects of a real estate deal, and it's important to be timely if you have items that need your seller's attention. You want to give your seller enough time to make the repairs in question, so bringing things up days before the sale could spell disaster. Do your best to address any issues early on in the negotiating process, and if the seller agrees to attend to the repairs after the sale is complete, consider involving a lawyer to draw-up a binding contract.
- Be Reasonable: Reasonable requests are much more likely to receive a favorable response, so think about what you're asking for. Many repairs, including those that arise as the result of a home inspection, are common for sellers to address. The home inspection is an important part of the process, and its importance shouldn't be diminished. While it will cost you a few hundred dollars in the short-term, the long-term implications can be serious. From issues with your roof to electric wiring problems that the untrained eye would never see, your home inspector will point these things out and give you a list of things that need to be addressed.
- Can You Live With It? Part of being reasonable with your requests means deciding whether or not the repair is something you can live without. Start by making a list of things that you can live with, and those you cannot. This is a great way to prioritize what you bring to your seller's attention. Remember: some buyers are willing to accept the Fort Worth home as-is, and the last thing you want is your seller walking away from the deal if you push them too far. If the majority of the home is in good shape, consider whether that repair is a deal-breaker or not.
To learn more about Fort Worth homes for sale, please watch our 60-second Fort Worth real estate market overview. It's packed with information to assist you with your search!