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The buyer wants everything repaired as outlined/suggested in the inspection report. He has threatened to walk away from the deal if all of the demands are not met.
I think he has gotten cold feet (commitment day is tomorrow) and wants out. Our RE thinks he may be bluffing.
What does it say in your contract? Are you required to repair everything? What types of things need repairing and will you have to repair them anyway if this buyer walks and another one comes along? Judging from the posts on this board, most sellers are bending over backwards to keep their buyers happy.
The buyer wants everything repaired as outlined/suggested in the inspection report. He has threatened to walk away from the deal if all of the demands are not met.
I think he has gotten cold feet (commitment day is tomorrow) and wants out. Our RE thinks he may be bluffing.
Anyone have experience with this situation?
This should be addressed in your contract. What state are you in? I'm not familiar with the term "commitment day".
What does your RE say? He/she should help you understand the contract.
A friend of mine just had a similar experience. She agreed to fix some things, but not all. Anything that was obvious to the buyer she didn't fix. Depending on what the items are and the cost, I might do it. If you get another offer, you could possible end up in the same position.
Are these safety concerns or just cosmetic? Where I live sidewalks are the city's problem, not the homeowner. Unless these are safety concerns I would be telling this buyer "bye-bye". Easy for me to say, not my house.
Isn't this the purpose of a home inspection? Every home I bought or sold had this type of thing. When I was the seller we would voluntarily fix anything that was a safety hazard (once it was wiring from the a/c) or was just broken (a hot water heater). We did have a buyer ask if we would give them an allowance to replace the roof ---- we said no, it was old but didn't leak. They still bought our house.
Home inspections are a nice back way out of a deal for a buyer but it can also be used to renegotiate. The things you mentioned --- meh, it depends on how 'bad' the porch and driveway are. As for sidewalks......isn't that the cities problem?
Are these safety concerns or just cosmetic? Where I live sidewalks are the city's problem, not the homeowner. Unless these are safety concerns I would be telling this buyer "bye-bye". Easy for me to say, not my house.
I believe they are cosmetic. Only replacing 2 non GFCI outlets is safety.
I'd repair everything that was a safety or code issue - that is it...you don't have to fix anything you don't want to - but be prepared for the buyer to walk.
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