In Kansas City, our contracts state that, pursuant to inspections, the buyer may renegotiate by notifying the Seller in writing within the inspection period, identifying the Unacceptable Conditions. Buyer's submission of the offer to renegotiate terminates the inspection period AND must be accompanied by the applicable written inspection report in its entirety from an independent qualified inspector.
Is sounds as though this buyer has come to the conclusion that she could use an extra $2500, no matter what the inspection said. Her request for the money needs to be supported by the results of the inspection. If you and she have different ideas about how certain things on the report can be fixed, she may still have a valid reason to expect a credit. You should review your contract to see exactly what it says and ask her to comply with it. If she still holds out, then you need to decide whether it's worth it to you to allow a credit to her closing costs, or whatever, just to keep the contract together.

Wed Apr 23 2008, 20:47

I believe, that until Buyer and Seller Agree on all of the terms, credit money is a big one, the contract is voidable provided she is working within the timeframe that was listed on the contract in the Inspection clause.

Wed Apr 23 2008, 08:42

If you are no longer under an option period then you are under no obligation to continue any negotiations. Of course I am not familiar with your contract and they way you do things in Kansas. In Texas we negotiate all repairs during the option period, and once the option has expired there are no further negotiations.

Wed Apr 23 2008, 08:27

Andrea, I agree with the comment you received concerning how badly you want to sell. The $2,500 consession might be worth entertaining if that will close the deal. See you can counter for a smaller sum of money. The buyer may need closing cost, and is just not disclosing their need. Check with your agent for advise.

Wed Apr 23 2008, 08:21

Ah, the benefits of having a professional on your side... :)

Wed Apr 23 2008, 07:03

Andrea
I like the posts I've seen so far. Are you ready to sell? Is $2,500 a problem?
I suggest discussing with your Realtor what it will take to GET THE HOME SOLD. Sometimes buyers (and their Realtors) use different "tactics" to get what they want. If your maket is like most, then what you pay your Realtor for is to MAKE IT HAPPEN. Work out something with which you both can live.
Good luck

Tue Apr 22 2008, 21:11

Andrea,

When you countered, you left the door open for additional negotiation. As far as giving back cash at the close.......smells like fraud where I am from. Ask your Realtor or Lawyer if you should be giving cash back. If you can't show it on the HUD, you probably can't give them the money, and fraud is a Felony!

It doesn't sound like she really wants the house, or, that the $2500 isn't really for the house.

Follow up on what Charlotte said too. Her advice was sound.

Tue Apr 22 2008, 20:30

Andrea, I presume you are working with an agent. I reccomend you visit with them, and/or their broker, review the contract and discuss Kansas real estate law. Every situation is different, and counsel should only be provided to you by the agent you have agreed to have represent you. Best wishes.

Tue Apr 22 2008, 19:28