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This is the most common thing. Buyers think that even though they are buying a pre-owned home that they're allowed to make the seller bring the home up to today's codes and standards of new construction. That's not fair to any seller. Codes change daily and even a house that is 1 year old isn't built to today's codes. If you're afraid of the owner maintenance of an older home, you need to rethink your strategy to buy a newer home.
This is EXACTLY how I, as a soon-to-be Seller, feel. It isn't fair. My home was built in 2004. If you want 2014 standards, then buy new construction. My pre-listing inspection pointed out that my breaker box didn't have certain things that are standard today, yet not once during the ten years that we've lived here, has this been an issue. NOT ONCE. In NYC, we still used fuse boxes, give me a break.
If it's a couple hundred dollars, yes I'll consider fixing it. Couple thousand? No. Especially if the home is priced right and I've made a concerted effort to repair other things. Or maybe the buyer could go halfway.
This is EXACTLY how I, as a soon-to-be Seller, feel. It isn't fair. My home was built in 2004. If you want 2014 standards, then buy new construction. My pre-listing inspection pointed out that my breaker box didn't have certain things that are standard today, yet not once during the ten years that we've lived here, has this been an issue. NOT ONCE. In NYC, we still used fuse boxes, give me a break.
If it's a couple hundred dollars, yes I'll consider fixing it. Couple thousand? No. Especially if the home is priced right and I've made a concerted effort to repair other things. Or maybe the buyer could go halfway.
As a seller it's important to consider the whole deal and not get too emotionally involved in standing up for what is right. If it's a couple thousand dollars but there aren't going to be any better offers, it might be better to just suck up the cost of the repair. It might not be fair, but if there isn't anyone else willing to pay more, it still might be your best option.
Our seller refuses to fix anything. He thinks we're getting a good deal in the house and thus we should pay for the fixes. We requested that they fixed the electrical panel that have some issues not to code, some fixtures that are leaking, clean the house, pump the septic.
We think our offer was fair and we're thinking of walking. Dealing with them has been frustrating to say the least. They relocated and we don't really know if we're dealing with them or the relocation company. It took a month to get a contract with all the back and forth between them. And now, they don't want to fix anything.
Our agent told us that it's being increasingly common for sellers not to fix anything, that she knows of 5 deals that fell through because of that and that fortunately our issues are not major. We're not asking them to give us a new house, but at least clean it up and get it up to code.
Thoughts?
There is no "fair" in an offer or a response. This is a negotiation. You say what you want. They say what they are willing to do. You are seeking a mutually agreeable resolution.
If you are unable to negotiate a result you can live with within your inspection contingency period, you walk away.
If another property will give you what you want at an acceptable cost, including your lost cost of investigation of this property, you walk away from this one and buy the other one.
If this is most appealing property you have found, and is a reasonable market value even without the desired adjustments, maybe you proceed to buy it.
If that is the extent of the issue, it should be a very minor repair.
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