Home Buying in Gardner>Question Details

Sharon, Home Buyer in Gardner, KS

What is the best way to negotiate with an already firm seller after the home inspection?

Asked by Sharon, Gardner, KS Fri Oct 17, 2008

The sellers want to pay very little out of pocket, we found this out when they didn't want to pay even half of the closing costs. But after the home inspection the electrical panel for the house must be replaced b/c it is outdated and they tend to cause fires (Federal Pacific panel). Also there were a couple leaks in the roof and the house still has galvanized piping that has a few leaks in the crawl space. We are wanting them to take $1,500 off the purchase price rather than them making the repairs. The problem is that they are very firm on their pricing when we first started negotiating before we had a contract. So how do we negotiate w/o breaking the deal, we love the house and are set on buying it.

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4
Farm Bureau Insurance’s answer
I would say that you should get an estimate of what the repairs will cost in writing from professionals in the area. The roof for example may not pass insurance inspections either. If this is the case you would be doing yourself a disservice by not including these repair costs in your negotiations. In addition, I can confirm that insurance companies will not like to insure a home with outdated wiring. It is never a bad idea to meet in the middle, but I now how difficult it can be when you like the house so much. Good luck. Sean Snyder; Farm Bureau Insurance; Gardner Ks.
0 votes Thank Flag Link Thu Sep 16, 2010
The outdated electrical panel, galvanized piping/leaks and leaking roof were probably things you had no idea about until you had your inspections. So, you negotiated, in good faith, thinking you were going to be dry in the home, have water, and have lights. Sometimes you simply have to call the bluff of the seller and say "We will only buy your house if these items, or at least part of them, are taken care of prior to closing. Otherwise we'll find another house". This needs to be done verbally, not in writing if you indeed will go ahead and buy the house even if they don't do anything. That way, you're still under contract. Your offer to take $1500 off the sale price is a great solution considering a new elec box, roof repairs and pipe repairs may exceed that amount. If you were to walk away from the deal, now the sellers would need to disclose to other buyers of these defects. Play a little hardball and you may get to advance a base or two. Joyce O'Connor, Reece & Nichols O'Connor & Associates. Gardner, Ks.
0 votes Thank Flag Link Thu May 20, 2010
.......and, it could be that they took these items into consideration when pricing and negotiating the price up front. Perhaps if you got a "deal" these are things you may consider fixing yourself after closing....
0 votes Thank Flag Link Fri Oct 17, 2008
Negotiations are not always easy. I presume you are working with an agent? Ask them how they plan to negotiate on your behalf. In regards to the Federal Pacific panel, many insurance companies will not insure these....it will most likely need to be replaced prior to being insured. Since the repair items are largely maintenance issues, I would provide them with estimate with your negotiations, so they can see that you are being very liberal with your request. Best wishes.
0 votes Thank Flag Link Fri Oct 17, 2008
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