A home inspection is always an important part of buying or selling a home, it almost always reveals something that needs to be repaired or renovated. You might think that you're stuck footing the bill if you've already decided to buy a home, but there are still ways to negotiate with the sellers to have at least some of the necessary repairs completed if some issues have come up during the home inspection. Here are a few tips that might help you succeed in your negotiation.
Get a Second Opinion
After a home inspection is completed, many realtors will call in a contractor to get a second opinion. You should follow suit and contact a contractor to take a look at the possible repairs. There's no harm in having a second or third set of eyes take a look at your potential new home, especially if expensive repairs may be required.
Choose What Should Be Repaired Wisely
There will always be buyers who want every minor flaw to be repaired. It's one thing to want a water-damaged ceiling or a cracked ceramic tub to be replaced, however, it's not worth the time of all parties involved to ask for a burnt-out light bulb to be replaced. You will have much better success negotiating repairs with the sellers if you only focus on the issues that need to be addressed immediately.
Keep Renovation Plans to Yourself
You will no doubt have grand plans for your potential new home, but you should keep them to yourself. If you so much as suggest that you plan to renovate shortly after you move in, you'll be far less likely to be able to successfully negotiate any repairs with the seller.
Don't Be Too Hasty
Finally, it never pays to be too hasty when buying or selling a home. Before you sign any kind of contract, make sure you've gone over every detail and that you know exactly what you are getting into. Whether you plan on living in your home for many years to come or you plan on increasing the value by completing renovations and selling the property shortly after, you want to be sure that you are happy with your decision. Buying a home is one of the biggest purchases you can make, so you want it to be worthwhile in the long run.
For more great tips to prepare you when selling or purchasing a home in Cambridge, Guelph, or Kitchener and surrounding area, contact the team at Dewar Realty at 519-222-1540.Posted by Greg Dewar on