How to Properly Counter-Offer After a Home Inspection
Home inspections are a good way for the buyer to determine whether the house they’re planning to purchase is in good condition and meets their needs. They can help you decide whether or not you should buy that prospective property.
You may opt to provide a counter-offer to the seller should an inspection reveal problems. Counter-offering will not only give you a chance to sweeten the deal, but it will also ensure that the house they’re moving into won’t cause them any problems in the future. The following are just some of the ways to counter-offer after a home inspection.
1. Get an Estimate of the Problems First
The first thing you have to do before talking to the seller again is to get the list of problems from the inspector’s report. After that, you should calculate the total amount for their repairs or replacement.
It is not easy to counteroffer without having an estimate of the total expenses in hand, and just by having that, you have more than enough evidence to present that the house is indeed in need of a fix.
2. Ask the Seller to Take Care of the Repairs
If the damage or wear and tear on the house is just minor, there is a chance that they may shoulder all the expenses. On the other hand, if there are too many things to be repaired, you may still negotiate with the seller, but there is no guarantee that they may cover the cost, especially if the estimate comes up too big. However, you may negotiate for a lower cost so you can perform the necessary repairs yourself.
3. Ask the Seller to Lower the Home's Purchase Price
If you cover all of the expenses that come with the repairs, you need to negotiate with the seller about their price. Tell them that the value of the house is not on par with the asking price since there are many hidden damages, much so that the new occupants will still need to shell out money even after the purchase has been made.
Just make sure that you have the estimates with you so that you may be able to prove that the cost is no joke, especially if there’s a lot of things that need fixing. The most expensive things you may encounter would have to be pipe replacements, termite extermination, and wall-to-wall renovations.
It’s not easy to buy a home. It will take you a lot of paperwork and saving just to get the appropriate amount for the down payment. However, your work isn’t done yet, as you would still have to negotiate with the house’s seller.
Be sure to have the property inspected before you proceed with the purchase, and if there is any damage, you should negotiate with the seller. You can either ask them to cover all the repair expenses or lower their selling price so that you’d have enough money for the renovations. Be wise, polite, and strategic when delivering your counteroffer; it may just save you a lot moving forward.
With that being said, if you are looking for home inspection services in Birmingham, AL, then we at Let's Do It Home Inspections may be able to help you out—no matter the size of your home. Contact us for more information about our inspection services.