So, you’ve placed an offer on a property and it’s been accepted, that’s great! But any good investor knows that that’s not the end all be all of buying a home. Being able to negotiate the results of your properties home inspection is the neck hurdle you face. Negotiating the results of the inspection are very important as an investor and below are some tips for how to best counter offer your clients home inspection.
But first, it is important to note what is inspected during a home inspection. A home inspection includes a report of the following aspects of a home:
the roof and attic
the homes systems
the basement (if any)
the electrical and plumbing
A home inspection is a visual inspection and there are still many important aspects of the home that are not covered under the inspection. Your home inspector is not held accountable for damage that is behind walls because they do not inspect the property at more than surface level. Also, structures like pools or a shed do not get seen by the home inspector.
What Are Your Options When Negotiating?
Asking the seller to make repairs: While this option isn’t always recommended, it is still up for grabs. Sellers consider this an inconvenience and may look in another direction if you ask for them to make repairs. Also, the repairs are up to the seller’s standards and the buyers have no say in what is done or how it is fixed.
Asking the seller for a credit for the buyer to put towards repairs: This is a far better option because it does not pile on work for the sellers to do when they are ready to leave the property. As an investor, it is your job to come together with the seller and the buyer’s best interest in mind to arrange for a reasonable price on what amount of money to leave for certain key repairs to be made.
Turn down the deal: If you elect the inspection contingency and are not satisfied with the inspection report, you do have the option to not look further into that property. While it is not ideal to walk away from a deal, if the work that needs to be done out. weighs the value of the home it may be your sign to look elsewhere.
How To Counter Offer
Get estimates first
Ask for the most important items up front
Keep in mind that the seller is not obligated to make any repairs
Make you and your clients bottom line known
AcuSystem Inspections Is Tampa’s Home Inspection Company
Looking for more information on home inspections or looking to set up an appointment to have your clients home inspected? AcuSystem Inspections can help you out!
With over 30 years of building and home inspection experience and all the industry- recommended certifications on our side, AcuSystem will deliver expert inspection service and get there within 24 hours of your inspection request.
It is our mission, but we also make it our passion to thoroughly inspect your home, we make recommendations your budget can afford. Is there a way to save you money with some maintenance issues? If so, we will be glad to help steer you in that direction.