You want your house to be functional, with less chance of damage or costly repairs. A home inspection will provide you with a visual representation of any issues that may have occurred. After your concerns are brought to your attention, it is time to begin the negotiation phase of a real estate transaction.
A few tips and tricks will help you negotiate your home inspection repairs without causing a loss in the sale or purchase. Home inspection in ocean county nj has compiled a list with five tips to help you negotiate repairs and reduce costs following a home inspection.
Tip #1: Keep your eyes on the big picture and avoid making any major repairs.
It is important to determine which repairs are most urgent and can be put off. A non-functional or old heating system can result in significant costs. This is why it’s important to prioritize. Minor damage to walls and minor scratches on floors can be considered cosmetic since they don’t usually require expensive repairs.
Tip #2 – Test and evaluate all major items.
Sometimes additional testing is required to ensure that everything works properly. Examples include the central AC, which cannot be tested in cold weather, and plumbing drainage pipes’ buried sections. Hidden corrosion, clogs, or gaps can be found in old plumbing drain pipes. It can also be difficult to spot drainage clogs if the house has been empty for a long time. To avoid expensive drain pipe excavation, it is good to have a specialist plumber scan the buried drain pipes.
Tip #3: Get credit for the work you have done.
When you are looking to buy a house, remember that sellers are usually busy moving to a new home and may prefer not to take the time to do any work. Sellers will usually do what is necessary to resolve any repairs. If a repair is not necessary to move in, you might want to apply for a credit at closing.
Tip #4 – Pay attention to market conditions.
Market conditions can have a significant impact on the willingness of sellers to make repairs or give credits. Sellers may decline to repair or grant credit if multiple offers are made for a property, even if significant defects were found during inspection. You can push for safety and health-related items such as hazardous garage doors openers, unsafe electrical conditions, and asbestos material. Sometimes they realize it is in their best interest to not sell their house if there are known dangers.
Tip #5: Take your time before making a decision.
If there are serious defects or defaults and the seller doesn’t agree to fix them all, you will need to decide. Ask yourself these questions before you rush to sign the contract. Is the house still worth the money? Are you able to afford the repairs yourself? Should you leave and find a new home?
