How to negotiate appliance (oven) replacement for potential buyer? (negotiating, agent, comparable)

[HookTheBrotherUp]

We are selling a home and it is in an option pending state; the home inspection was done and the only major issue was a double oven that is too old to be calibrated ('does work otherwise). The temperatures are too far off, my wife knew that and compensated for it when cooking. We also disclosed this when putting the house up for sale.

So now we are at the stage where we need to negotiate with the potential new buyer; they are not being demanding, but will want the ovens to be replaced and are getting quotes. My question is, should the buyer be the one who decides what kind ($$$$) of oven to get? Also, the ovens of today are larger than the one in there, so there could potentially be some remodeling costs too. Any advice on how to handle this situation? Thanks in advance.

[rrah]

My first thought is that you disclosed this before they made an offer. The buyer should have kept this in mind when negotiating, but that does not always happen. People often think they will re-negotiate during inspections. There is a thread about this tactic on here currently.

That said, it didn't happen that way. You also sound like a reasonable seller that wants to get the house sold instead of letting an emotional response rule. Good for you.

I would do a bit of online research for the price of a comparable oven. They may want something upgraded, and you should not have to pay for that. Offer to credit them at closing for that cost and let the buyers handle it after closing.

[BirdieBelle]

Originally Posted by rrah

instead of letting an emotional response rule. Good for you.

I would do a bit of online research for the price of a comparable oven. They may want something upgraded, and you should not have to pay for that. Offer to credit them at closing for that cost and let the buyers handle it after closing.

I agree. I just redid my kitchen last year, and there WILL be cabinet surprises (which could lead to MORE cabinet surprises and maybe floor surprises) and possibly electrical surprises. You Do Not want to work as a general contractor for the new homeowners while they get this new oven installed.

You did disclose it. It's not your job to provide them a new kitchen. Offer a credit at closing.

[TexasHorseLady]

Definitely get your own estimate for a replacement oven similar to the one you have. Don't go by the buyer's estimate; you need your own. And a credit at closing (if the lender will allow - some don't want to see repairs on the contract at all) or towards their closing costs would be the best way to handle this; that way they get to choose what they want and if it's more than you are willing to or should be paying for, they can pay the extra AND they can supervise the work so that it is to their satisfaction or, if it's not, that's their problem, not yours.

[399083453]

Look up the price of a cheap double oven, say $600. Offer them a credit at closing for $600.

[Hemlock140]

That is such a minor cost, it's hardly worth worrying about and jeopardizing a deal. Just offer them $1,000 toward the purchase and let them do what they want with it.

[HookTheBrotherUp]

Originally Posted by Hemlock140

That is such a minor cost, it's hardly worth worrying about and jeopardizing a deal. Just offer them $1,000 toward the purchase and let them do what they want with it.

This is exactly what we were thinking; we built in negotiating costs into our price, and so far have only used 1/2 of it to counter their offer. Also there were a few other things their agent asked about, but did not request in the contract, that we took care of. We are not in a hurry to sell, we've been out of the house for over a year now, I'm just doing what I myself would want/expect if I were buying another home.