Many buyer's think that most of the negotiations on a home take place when they make their initial offer. Although sometimes that is true, the negotiations that stem from a home inspection are often much more difficult, time consuming and can destroy a sale if not approached with care. The nature of the market and the particular property are very important to remember because if a seller believes there are other potential buyers in the marketplace for their home, they will be less tolerant of your repair requests. If they think you are the only buyer in town they will do anything to keep you happy. Below are some tips I've learned over the years that can help you keep a deal together and navigate the sometimes rough waters...
DO Make your initial offer based on what is visible in the home and the information on the seller's disclosure.
DON'T think you will use negotiations from the inspection to get you a better deal just because you think you are paying too much. Negotiate an acceptable price up front!
DO ask the seller to correct defects that were not visible or disclosed that are safety or structural issues.
DON'T make decisions based on emotion. Try to keep the big picture in mind and keep your ego in check.
DO get reputable contractors to give you accurate and detailed estimates for repairs and consider getting a credit from the seller at closing so you can do the work yourself.
DON'T expect an older home to be brought up to new condition by the seller. The age of the home should be considered when making the offer and normal wear and tear should be reflected in that number.
DO get a termite inspection, oil tank sweep of the property and radon testing.
DON'T "nickel and dime" the sellers, ask them to address legitimate concerns.
DO trust your agent and take their advice (if you don't you should get a new one!).
DON'T give up hope! You can get through this and it will all become a faded memory once you settle into your new home.
Good luck and feel free to check out my website at www.kellyzaccaro.com or contact me at 732-492-8224 or email@example.com