This is simple but not always easy in a buyers market.
first were you asked to do the repair as part of the purchase agreement. If the answer is yes and you accepted the purchase agreement you must do the repairs to meet the purchase agreement. Or the buyer can walk.
If the repair request was asked as part of an addendum after inspections you have a choice. Accept the request and do them or counter the request and say you will not do the repairs. The response must be analyzed prior to sending the counter offer back to the buyer. Will the buyer walk and you lose a sale for a few hundred or thousand dollars? Are you trying to wring every cent possible out of the sale? Is what the buyers asking reasonable and your were going to do the same repair if you stayed? If you grant this request can you get the buyer to relinquish some other repair request. How bad do you want to sell? Is this your only offer?
So, I said this is simple, is it?
Here is a little saying that has a big amount of truth hidden. Sometimes your first offer is your best offer, and your only offer!
If the repair request is unrealistic the buyer knows it before they made the request and is working from a position that if they asked all you can say is no. Sometimes people say yes! Your agent, if you are represented, should be able to help you fend off these types of requests. I recently had a buyer ask for my seller to contribute to a new roof. The roof was not new but had 10 years of life in it yet and was not leaking or damaged. The buyer simply wanted a new roof. We said no, the current roof was serviceable and not in need of repair. The buyer said, OK, just thought I would ask! My seller about had a stroke because the home was priced below what he had paid for the home 4 years ago and the buyer wanted more! We closed today and the sale went smoothly after some give and take issues were resolved. This is a business transaction. To keep the sale of your home strictly business is very difficult for you because it is personal. But it is business. Keep cool, analyze the situation and react with a well throughout response and you will be successful in selling and keep unrealistic repair requests in perspective.
I hope this overview has helped you.
Drop me an email with any questions or comments.
Sincerely,
Gary White
Associate Broker
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