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Home / Real Estate Information / Home Buyer Tips / Negotiating Home Inspections For MA Real Estate

06.18.13 Home Buyer Tips, Local Information

Negotiating Home Inspections For MA Real Estate

Sellers are not mandated to address issues discovered in a home inspection. It is a negotiation process. Before evaluating inspection reports, keep in mind that they ordinarily include both problems found in the property and additional recommendations from the inspector on upgrades that can be applied. Evaluate the issues and not the upgrades since it is unreasonable to ask a seller to upgrade a property. If upgraded, the seller would be able to sell for more than the current asking price. You will find tips on negotiating home inspections for MA real estate below.

Narrowing Down Repairs to Negotiate

Buyers should look through the list of problems and determine what they wish to negotiate, taking into account some strategy. Asking for every minor item may alienate a seller and diminish the chances for success. If there is a major repair and several minor ones, it may be better to request that only the major one be fixed. In instances where there is an extensive list of moderate issues, perhaps asking for the most expensive ones would be more successful than submitting an overwhelming long list. Buyers should detail a list in writing when submitting a request.

Potential Negotiation Results

Sellers then have the choice to either…

  • Agree to address everything on your list prior to closing.
  • Offer to address some of the defects prior to closing.
  • Offer to credit the buyer (via a credit towards closing costs or a change in price) in exchange for the buyer fixing the items themselves after closing.
  • Deny to do anything.

The negotiation process may go back and forth unlimited times until both buyer and seller accept the terms. In some cases, agreement may not be reached at all. If both parties remain on respectful terms, both could be more willing in the negotiation process. Whereas if one party feels taken advantage of, agreement may unlikely.

Tips on Negotiating Home Inspections For MA Real Estate

Neogotiation strategies should be evaluated with your real estate agent and should take into account the many aspects of the transaction. Keep in mind that inspection reports include both defects and general suggestions, and that trying to negotiate upgrades is almost never successful. Inspections are not an way to renegotiate price but rather to address serious issues that were not predictable. Respecting how the process works and the potential outcomes will hopefully lead to both parties treating each other with courtesy and respect,… resulting in positive outcomes. The above tips on negotiating home inspections for MA real estate was offered by Christopher Graves at Emery Federal Credit Union. Contact Christopher at 978-376-5389 or christopher.d.graves@gmail.com or for additional information on negotiating buyer inspections and other steps in the home buying process.

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Tags: inspection, MA

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Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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Topics

  • Local Information (61)
  • Misc Topics (14)
  • Mortgage Information (118)
  • News (22)
  • Real Estate Information (176)
    • Featured Properties (2)
    • Home Buyer Tips (134)
    • Home Maintenance & Repair (12)
    • Home Seller Tips (40)
    • Market Trends (24)

Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Licensed in Maine.
Licensed in Florida.
Lender and Broker License #MC-1788 (Not Licensed in Alaska or New York)
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

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