Inspection negotiations

Asked by rssraj, 11375 Mon Jul 30, 2012

Guys

I'm trying to buy a house in the mid-7's that was last updated 20 yrs ago. However, it's been gently used and is in older but move-in condition. My broker is giving me advice but also wanted to get some more opinions about these two things

1) The roof has had some repairs but only has 2-3 yrs of life left in it according to inspector and a general contractor I got in
2) The tiles in the driveway and front of the house need to be replaced as they are sloping towards the house instead of away

Apart from the above, the inspection report has things like electrical, some more ventilation required at spots, small area of mold, humidity in the bsmt due to no.2 probably but many of these are due to the age of the house

Are no.1 and 2 typically negotiable items? Would you usually have the seller pay about 50% of the cost to replace the above?

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Answers

6
Cliff C, , Syosset, NY
Tue Aug 7, 2012
though, i'm just a home buyer like yourself, i've done a lot of research on homes and went on numerous inspections. as some people mentioned above, the first two things that were listed on there are quite minor...

my biggest issues were the fact that you had areas of mold and humidity in the basement. as a parent who has kids, that is a major issue for me, and i would not buy a house that wasn't treated and given a confirmation that this mold / issue was taken care of by a professional. you don't want yourself nor your family to breath in mold or any other toxicities

the only way that you will have leverage on the first 2 items is if no other offers came in, and the sellers are desperate to move and need you to buy in order for them to afford their other property that they may have bought. if that is the case, it doesn't hurt to ask...what's the worst they can say? no? the best would be YES, and you can get something out of it.

Good luck
0 votes
, ,
Mon Aug 6, 2012
Typically your Home Inspection will alert you to problems in five key areas, and these key areas directly relate to the contract of sale:

1. Foundation: sound and solid
2. Roof free of leaks
3. Plumbing working and leak-free
4. Heating system sufficient and operating
5. Electrical system sufficient and up to code

If there is a serious problem with any of these five items, typically the Seller has a responsibility under the terms of the contract of sale to repair the problem at their expense, not the Purchaser's expense. Sometimes a Purchaser will receive a credit at closing to repair one of these items (assuming the home and the defective issue has not compromised the Lender's appraisal). When the Purchaser receives a credit at closing, the amount of the credit is based upon legitimate estimates for repair and negotiations between the Attorneys representing each party.

Other items you discover are in need of repair/upgrade (i.e. diswasher not operating properly; air conditioner on second floor inoperable, etc.) can be negotiated for a repair credit or replacement at the Seller's expense. Again, these negotiations are handled by the Attorneys.

It is extremely RARE that a purchase price is reduced due to repairs from a Home Inspection. Best to consult with your Attorney for more detailed information in this area.

If you don't already have a good real estate Attorney and you're shopping for homes, you need to reverse your process. A good real estate Attorney can advise of exactly which items may be negotiable and which are not.

Trevor Curran
NMLS #40140
0 votes
De Vonte Wil…, Agent, East Point, GA
Mon Jul 30, 2012
Hey rssraj! Number 1 & 2 are typical and minor. However, if the electrical and mold are a concern to you, you should request the Seller mediate and resolve those issues, before moving further. Talk to your Agent, and see if He or She thinks requesting this of the Seller is a deal breaker. "You'll never know until you try!"

I hope this answered your question. Should you have any further questions concerning this matter, or any other Real Estate matter, please feel free to contact me by the ways below.

Wishing you the best of luck,


De Vonte Williamson
Licensed Real Estate Salesperson
Serving Long Island & Queens
Coldwell Banker Residential
Direct:(631)638-6193
Mobile: (631)384-3695
Fax:(631)236-1478
cbmoves.com/DeVonte.Williamson
"I Stand Behind Getting You Results!
Your Trusted Real Estate Professional for Life!"
0 votes
Edwards Prop…, Agent, New Paltz, NY
Mon Jul 30, 2012
There is no usual or typical here. Every deal has it's own negotiable items. You can always have your agent approach the selling agent and see what you can work out!
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Jul 30, 2012
If you are not comfortable with the report, nor your negotiated price, consider moving on.....if the roof has no leaks there really is nothing to fix/negotiate...
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Jul 30, 2012
The only two items that are seller responsibilities are environmetal and roof leaks; neither of which you mentioned.

Inspections are performed so that you know somewhat what you are buying into, not for renegotiating purchase price or getting the seller to do more work on the house.

If you are not comfortable with the report, don't sign a contract; find another house.

Warning: There are no perfect houses.
0 votes
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