It happens more often than you think. You’ve made an offer on a home you really like only to be surprised when a few costly issues are discovered by the home inspector. You’re still interested but want the current owners to make repairs before you go through with the deal. So how exactly do you give yourself the greatest chance of having the homeowners to cover most of these costs?
Here are our top tips for negotiating repair costs after a home inspection here in Calgary:
Don’t share too much
Be careful about what you say in front of the seller or the selling agent. If you give off any indication that you’re comfortable with the home inspection finding, you’ll lose negotiation power. On the same token, revealing plans to do other home renovations while the discovered issues are being corrected is essentially letting the seller know you plan to renovate eventually. Keep your cards close to the vest when negotiating for repairs. If the sellers feel you are uneasy with the findings, they will likely be more willing to negotiate, so as not to lose the deal entirely.
Don’t sweat the small stuff
No home is perfect. If you plan on buying a new house in 2020, you can bet at least a few things will need your attention. Hate the wallpaper in the living room? Notice some cracked tile in the kitchen? It may be tempting to get the home as pristine as possible before you move in, but you could lose leverage negotiating for larger repairs. Focus your negotiation on things that are too big or complicated for you to want to fix on your own.
Ask for a price adjustment, not repairs
If you ask for repairs, the seller could choose to hire a cheap contractor whose work is not up to your standards. What’s even more, the contractor is not liable to you, as the seller hired and paid them. Ask for a reduction in the sale price instead to ensure the repairs will be carried out to your specifications by someone you know you can trust.
Buying a home is probably the largest investments you’ll ever make. Before you commit to such a significant purchase, schedule a thorough home inspection and protect yourself from surprises down the road. Contact Accurate Home Inspections at 403-826-6111 to make your appointment today.
Great article – wish I had a dollar for every one of my clients who wanted the seller to repair rather than lower the price. They rarely listed!
thanks for sharing some good information on home inspection
Awesome post! Thanks for sharing the knowledge and keep up the good work.