Negotiate After Home Inspection: The Proper Way to do it

Published: 28th September 2009
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Buyers and sellers have their own standards when it comes to purchasing a property. Sellers would want to sell their houses according to what the market's condition. But something that does not go on with their plans is unacceptable. Alternatively, buyers would want to make sure that everything will be in proper order. They will take any single opportunity of cheaper prices for the available properties.

The nice thing about selling and buying houses is you will always have the opportunity to bargain the prices. Every needs or demands of both parties can be provided if proper negotiation is made. Sellers can say their demands and buyers can either agree to them or refuse them. Until it comes to a point the both of them agree to all the terms and conditions of the deal. As soon as they achieve this, then it is considered a successful transaction.

Normally, the case explained earlier takes place as soon as home inspection is finished. This is for the reason that home inspection process finds out all the possible defects and problems of a particular property. Anything suspicious found on the house, regardless of how big or small it is, will be put on a final report made by the home inspector. Hence, buyers would usually want to have all the damages fixed before they close the transaction. This is the time where new terms and conditions are made so as to satisfy all the preferences of both parties, especially on the part of the buyers.

In addition to that, buyers should remember that sellers are not really required to fix all the damages seen on their house. You can not always ask them to make their house look better before they sell it. Sometimes you get the property as is. However, they have the responsibility to sell the house with the right market value. And this is according to the actual condition of the house. Thus, you have to be prepared for some damages that you will have to repair using your own money and some are not.

Once the buyers' standards are not fulfilled in a particular transaction, bargaining for the price of that property comes next. The initial offer can be lower than the regular value. However, you also have to consider the original selling price. If asking price is close to the fair market value, provided that the damages are already disclosed, be reasonable. Do not be too hard on asking for a very cheap price. Sellers will definitely raise their eyebrows and decline such request. This only means losing your opportunity to own the house.

If demands of the two parties are not yet fulfilled, then expect to have a longer negotiation process. Buyers should always keep in mind that sellers are not responsible to fix all the defects found on the house, especially when they sell the property. Offers and counteroffers from the two parties will go on if they are really eager to close the deal. But both parties should know when to stop if their reach their borderline. They must compromise and meet in the middle. If they do not agree with each other then they are all wasting their time.

Always remember that home buying process should not take you a longer time just to negotiate. If things are taking you so long, then you might just drop it of and look for another one. Or else you might end up losing your well deserved money for not meeting the terms and conditions of the contract on time.

Want to know more about real estate properties? Check these sites MLS Real Estate in City Heights San Diego and City Heights San Diego Homes blog.

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