Frequently Asked Questions in Real Estate
Should I Negotiate Repairs Before Closing?
Q: The home inspection just completed on a home under contract had some issues. Should I insist they meet repairs before closing?
A: It depends. Everyone wants a smooth closing, and home inspection negotiations are where a deal can fall apart. Here are some things you wish to consider:
1. If you require the seller to make the repairs, do you think they do as well as you would? After all, they are ready to move on to their next home. So while the repairs must meet specific quality standards, they might not measure up to your high standards (though they technically fulfill their end of the bargain).
2. Ask yourself how much the repairs matter in the grand scheme. For example, are you quibbling over some peeling linoleum in a kitchen you are already planning to renovate from the floor up?
3. The back-and-forth over repairs could delay your closing. Remember, getting the work done will involve selecting a contractor, scheduling the appointment, and reviewing the completed work.
Inspection reports can be long and extensive. We can guide you through the findings and help you decide your next steps. Info: 772-678-1600.
Alternatives to Making Repairs Before Closing: Cashback Credit for Repairs
Instead of having the repairs made before closing, you might seek a cashback credit at the close of escrow. This way, you can have the work done on your terms and your timeline after closing (and you might also offset some of those closing costs).
You deserve a home in good shape! How it gets that way is often negotiable. Negotiating cashback at the close of escrow is just one of the many reasons working with a real estate professional is to your benefit.
Donʼt go it alone! I am happy to help you get the most out of your next real estate experience.
Eric Slifkin, Team Lead
Your local real estate expert
Eric and his team offer sellers and home buyers a turnkey approach to selling or purchasing real estate from the Treasure Coast to the Palm Beaches and beyond.
Contact us today to schedule a free consultation. Whether buying or selling a home on the Treasure Coast, we are always happy to meet with you to discuss your wants and needs with no obligation.