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If you don't 'trust' the very contract of repair, then it was on you to not sign it.
The roofer is the person who maybe certified and bonded. So when the reinspection comes up, the roofer is the one on the hook. Go re read the contract and stop being contrary.
My son bought a property . Roof needed repair. The seller repaired it . No problems .
They didn't want a concession they wanted it repaired before it became their 'home'.
It comes down to priority. They wanted it fixed. Not delayed til they found a roofer and went thru bids after moving in.
That's why I also say for the Buyer... Give us the money and we'll get our own people to do any repair.
Makes a huge difference usually in who is paying for a repair. I want it done right, you may want it done dirt cheap.
However for anyone who sells an investment property the seller wants to do repairs, because there is a tax benefit. I just went through this. I replace a 15 yr old water heater at the buyers request along with other minor repairs (faucets, sinks, windows, etc)
I prefer the seller make the repairs and I'm not talking about a cracked outlet cover or a screw hole where a picture hung.
However for anyone who sells an investment property the seller wants to do repairs, because there is a tax benefit. I just went through this. I replace a 15 yr old water heater at the buyers request along with other minor repairs (faucets, sinks, windows, etc)
I prefer the seller make the repairs and I'm not talking about a cracked outlet cover or a screw hole where a picture hung.
From a tax perspective, no one makes money by increasing their expenses by a dollar in order to save 35 cents on taxes.
I had to replace or credit the buyer. It's to my advantage to do the repair/replacement.
Hypothetically, let's say that you are in the 35% tax bracket. Let's also say that the cost/value of the repair is $1,000.
If you do the repair in order to save the deal at the agreed upon price, you will spend $1,000 on the repair and save $350 on your taxes for a net loss of $650.
If, OTOH, you agreed to knock $1,000 off the selling price and let the buyer do the repair himself, you'll get $1,000 less from the sale, but you'll save $350 in taxes for a net loss of $650.
So, either way, the $1,000 expenditure ended up costing you $650 after taxes.
No, but you did say "However for anyone who sells an investment property the seller wants to do repairs, because there is a tax benefit." The clear implication is that you save money that way, when in fact, it costs you the same either way. And from a "hassle" standpoint, it's better to give a credit and let the buyer deal with it.
No, but you did say "However for anyone who sells an investment property the seller wants to do repairs, because there is a tax benefit." The clear implication is that you save money that way, when in fact, it costs you the same either way. And from a "hassle" standpoint, it's better to give a credit and let the buyer deal with it.
I disagree.
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