Question Details

Val, Home Buyer in Norwalk, CA

I am currentyly in escrow in buying a house. What kind of leverage do I have in doing a home inspection and?

Asked by Val, Norwalk, CA Sun Jan 13, 2008

how would I go about having the seller deal with the problem.???

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We have covered this one before. You really have 2 Negotiations in any sale. You worked out the price and the terms of the first sale. And now your have done the inspection and found out the home has some issues right? Well that describes almost all deals. While you never know exactly what the Seller will do most Contracts provide for you to walk away if you are unhappy. I am not sure that is the case with you but in this Second Negotiation your leverage is that you can walk away leaving the Seller with NO DEAL.

In these markets that is plenty of leverage. But there is a reasonableness factor at play here. Ask for things that effect the safety and value of the home and not cosmetic or small items. You will have greater success. If you are represented by an agent ask them for some guidance on these issues.

I am certain that if both sides want to do a sale you can get this done in good faith.

Best Wishes;

Dirk T Knudsen
"The Real Estate Doctor"
Web Reference:
0 votes Thank Flag Link Sun Jan 13, 2008
Here in Colorado we have a Inspection Deadline with and Inspection Resolution deadline.
We write up any Items we want the seller to complete on or before the deadline and the seller responds on what they are willing to do. Usually you have some leverage on these items.
Web Reference:
0 votes Thank Flag Link Sun Jan 13, 2008
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