Frequently Asked Question in Real Estate
Should I Negotiate Repairs Before Closing?
Q: The home inspection just completed on a home under contract turned up some issues. Should I insist they complete 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 youʼll wish to consider:
1. If you require the seller to make the repairs, do you think theyʼll do as good a job as you would? After all, theyʼre getting 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 of things. Are you quibbling over some peeling linoleum in a kitchen youʼre 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 on your next steps. Info: 772-678-1600.
Alternatives to Making Repairs Before Closing: Cash-Back Credit for Repairs
Instead of having the repairs made before closing, you might decide to 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 just offset some of those closing costs as well).
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! Iʼm happy to help you get the most out of your next real estate experience.
Eric Slifkin, Team Lead
Your local real estate expert
Together with his team, Eric offers sellers and home buyers a turn-key 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.