There are typically two times that is negotiated with the sale of a home - one is at the initial offer and the other is the home inspection issues. Of course, some home inspections bring up some major structural or safety issues that will need to be addressed by either the seller or the buyer. A seller does not need to agree to those repairs, placing the burden on the buyer. However, if the buyer will be obtaining a mortgage they may need to get those repairs done in order to obtain the loan, leaving them with no choice but to decline the seller's response. Some items may not be critical in nature and could be done by the buyer at a later date.
If the buyer does not agree to the seller's response and cannot afford to do the repairs on their own, and it is agreed to terminate the contract - THEN, at that time the seller will need to disclose the found defects of the property by updating their seller's disclosure form. Or, the seller could do the work and then re-list.
Let it be said too, that if the buyer feels they are paying "top" dollar for the home (compared to others in the neighborhood), they often expect the seller to address the found defects. If they are paying under-market value, they can sometimes be more forgiving.
Lastly, I suggest that some sellers get a preliminary inspection of their home prior to listing so we know what issues could easily be adressed ahead of time and to avoid home inspection problems when the home finally does sell.
Hope it all turned out well for you!
Doylestown, PA... more
Anne, I hope I can be help in your quest to find an answer. I showed a lovely home, in a precious well developed neighborhood, and listing agent was having the same issues. I know the neighboring house was also listed for $50,000 less, but needed tremendous updating. Price per square foot was right on. I would ask some of the agents who have shown the property to give you a personal opinion as though they were going to list it. I believe bringing the repetitive feedback together making alterations as needed, what ever it may be, should get your listing sold.... more
Make a list of what you liked about the house when you moved in. If it is priced right there must be buyers out there who may like the same thing about the house. Do you have trees and fence at the back ? Proper landscaping might help.... more