Nitpicking items from buyer home inspection (negotiation, mortgage, mortgage, sale)
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I am going through a home inspection result and a buyer wants some money for some repair PLUS upgrade. I don't mind paying for some repair (like siding) but something really anger me:
1. Kitchen garbage disposal is loud --> They want a new one
2. There is a hole next to kitchen faucet for hot water we never installed. They want a hot water dispenser.
3. Water tank replaced in 2011 and now its 2019. They said it is end of its life. Water heater is usually 15-20 years out.
Also the inspector seems very unprofessional and could not even find the jet tub access panel (it's right in the corner).
I am thinking this is a negotiation weapon being abuse. Probably will turn off this deal.
As a seller, you do have the right to refuse to meet the buyer's demands. In some cases it is better to "cut bait" and move on to the next offer.
That is what I am thinking but I am wondering in such buyer market, it is the "norm" now to bend over backward to satisfy things like these. Overall, it is about 0.8% of the selling price that they are asking more.
Don't take the items personally. They're trying to get the most for their money.... so are you. Just negotiate which ones you think are fair, and which ones won't cost much and will keep the buyer happy and get it closed.
These three seem unnecessary... is that ALL they asked for? Or was there more?
Don't take the items personally. They're trying to get the most for their money.... so are you. Just negotiate which ones you think are fair, and which ones won't cost much and will keep the buyer happy and get it closed.
These three seem unnecessary... is that ALL they asked for? Or was there more?
I typically don't take things personally but we have been more than half a dozen negotiation rounds. Frankly they know what I will reject but just keep coming. Obviously in this market where I am at (WA), buyers aren't afraid of losing deals because they have the will to wait.
Anyways, there is a long list of ~14 requests. Another funny one that I forgot: all holes done by the staging paintings need patch and entire wall repainted! LOL... The big ticket items are: furnace seems old and cannot determine age --> Need replace. Also: siding install horizontally instead of vertically --> Wrong and need replace. There is no damage in the siding in that direction however. There was a small damage in the other side (which was install vertically) but I would say it's $500 fix at the most. The house is built in 60s, what to expect. Whatever damage was there, it was exactly same when I got it few years ago and my inspector didn't bother to mention.
My rule is I am not fixing a single thing unless it is structure/safety related
Totally agree and that is my operating principle too. Anyways, I decided to give them 1/3 of what they asked just to lubricate the deal. At this point, I am happy to get out of this if it goes south.
Reads like most do. The prospective buyers put a big "to do" list up with their offer while probably not really expecting all of them to be remedied.
But more so, the big list helps them get cash reductions off the sale price given to them by the seller, so they can do the work "needed" after they buy it.
And then after they move in to the house, ALL of these " issues" they had with the home when it was for sale, they will probably never think about them again. JMO
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