After your home is under contract, the buyer will have a home inspection. There is usually a request for the seller to make repairs based on the inspection report findings. Most times, they are minor repairs that should be routine maintenance and most sellers are willing to take care of those repairs.
If a low price was negotiated for the purchase, a seller may say the home is being sold “as is”. Even if that’s the intent of the seller, a buyer can still have the home inspection. And, he can also ask for repairs, even if a seller has specified that he won’t make repairs. However, the only option if a seller refuses to make repairs, is for the buyer to accept the property “as is” or to terminate the contract.
Based on our experience, some of the most common requested items include:
- electrical work – GFCI outlets not working or not installed where needed, exposed wires
- plumbing – leaky drain pipes, faucets, loose toilets
- roof leaks discovered in the attic, clogged gutters and downspouts
- water in crawl space, missing vapor barrier
- loose railing on staircases, decks, porches
Sometimes, it’s difficult to decide if a repair is really necessary, however, in order to get the home sold, it’s usually worth it to consider the possibility of having the buyer terminate the contract. Even though it may seem like unreasonable requests, think about how you’d feel if you were the one buying the house (and not having the knowledge you have of your home). Buying a home is a big decision, so the buyers need to be satisfied that they are getting the most for their money. It’s always a good idea to reserve a little on your “bottom line” when negotiating the contract — just to give you extra money for repairs.