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Home Inspections and Seller Concessions..

Real Estate Agent with HomeSmart Connect 471007886

Sellers and buyers sell and purchase homes with all kinds of property conditions.

How often is the seller giving the buyer a concession (by way of a closing cost credit) because of home inspection issues?

In a hot market, the seller will likely provide no concession.

However, in a more balanced market or a buyer's market, buyers will likely ask for a monetary concession (credit). Many see this as a renegotiation of the contract. And it could frustrate the seller to the point of worrying about losing the sale.

Home inspection issues can be a deal breaker. The seller often takes the issues personally and becomes defensive and angry. At this point it takes focus to keep the seller on track to see the bigger picture of selling the home.

Are there ways to keep home inspection issues from becoming serious problems? (maybe some can be added?)

1) Offer a home warranty

2) Sell the home "As Is"

2) Have the seller expect the buyer to ask for concessions & negotiate the price with this in mind. (after the contract is signed the seller has less bargaining leverage)

4) The seller might have a professional pre-listing inspection completed to alert what issues might be found and to correct them. (this might trigger disclosure concerns)

Many times in a residential real estate transaction, this usually happens: the contract terms are re-negotiated for a buyer concession. (credit)

But, here is where the skill of the Professional Realtor can shine, to save the sale!

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Comments (1)

Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Jim - You offer up some great advice on how to prepare the seller for issues that may come up during a home inspection. More often than not, there will be something.

Nov 30, 2015 01:17 PM