The majority of what they are pointing to for repair allowance consideration is for electrical work. There were things like tub replacements and improperly working kitchen appliances needing repair which they appear to have ignored.
Our real concern is there is also an estimate for another $3000 for siding replacement, as the siding is allegedly contributing to wood rot. As this estimate was a high ticket item, I am worried about having to disclose it to any other potential buyers(especially since I am not convinced it's causing the wood rot and would instead be cosmetic) . This siding issue is what makes the estimated repairs jump from 10K to 13K; but again-- this was not on the list of what they felt needed to be addressed by us with a repair allowance, we only knew about it because of their inspection and subsequent contractor's quotes.
There . I don't think they want to back out, I am just nervous about the option period and their ability to withdraw and what would happen if they do (even if we do agree to $6000). My agent is telling us to relax about the option period, which is new to us as sellers, and that plenty of homes make it through the option period without buyers backing out. My main question was about updating our disclosure. Thank you again.
Best of luck to you.
If they back out and you have a copy of the inspection report, you will be required to disclose the entire report to any potential buyer. I wouldn't advise getting another inspection unless you really disagree with the findings of their inspector. Try negotiating with them. They apparently like the house enough that they didn't get scared off by the amount of repairs and went the extra mile to get quotes for the work.
If they haven't specified that the work is to be done by a licensed person in whatever field, get your own quotes from some handymen. You may get much lower quotes.
What is your agent suggesting?