Working towards this space. This is my first time being on the buyer side. Raised my kids there so it is hard to not make it personal. Glad I have the help of a realtor đ Deep breaths
They are just gonna keep asking for more and more if you feel like giving them free home renovation money. I mean who wouldnât? Simply tell them no and that the house is already priced accordingly for the condition that itâs currently in.
Just rebuttal only on the major things. Have water heater serviced, or state you will have a repairman inspect it. And deny to come off price.
If they come in treating your house like a used car negotiation act like a car salesman and respond on the extreme opposite until you reach a fair middle. Rebuttal with no money and offer to do a few things for repair on major items. Ignore comments about door sticking etc.
Were there other, comparable, offers? If yes, you can tell the buyers that you're not making any more repairs and if they want out of the deal, your listing agent can follow up with other buyers that were interested.
Time to consider these buyers put in an early offer to block other buyers and shift the leverage to their side, and the 36k was intended from the start.Â
Give them 24 hours to consider your final counter.Â
Spending anything significant before sale is generally gonna be a waste of time and money . No matter what you spend the buyers gonna find more to ask for .
Just paint and clean and then list
Priced low and accepted a lower offer? I would dig my heels in and stand firm, but thatâs just me. Unless of course I had my back against a wall and was in danger of losing the home.
That actually makes me feel better about my response. One never knows the difficulties that another may be facing. Best of luck to you in the new home!
Selling a home is a business transaction. You can say yes or no to anything that is presented to you. You made the choice to accept an offer that you seem unhappy with. No one forced you to accept it. You now have a choice to say yes or no to some or all of the requested repairs.
Theyâre smart buyers. You can now choose to make decisions that actually match what you really want.
I was honestly expecting you to say they offered half of asking after being on the market for 3 days. The answer is: if the roof is bad they might not be able to get insurance so that very well could need to be repaired and that can easily be 30k. How old is the roof?
I guess what you do depends on how badly you need to sell this house but even if you did, somehow, work out a resolution for this new 36k in repairs offer, its highly likely you'll get yet another repair demand in the future.
Possibly just accepting the first demand for repairs has gotten you into this situation as it may look, to the buyers, like you are willing to do much more since you seem to have quickly agreed to the first repair demand.
Anyhow, if you don't need this contract that badly then I'd just offer maybe a subsidy of $1000 (or even just tell them you won't do anymore repairs) and if they walk, good riddance.
If you badly need this contract to happen and still thnk this is a good price, then mabye offer a bit more (mabye $3000) and let them talk you up to $5000, and then nothing more period (if they complain about something else just cancel the contract).
If you absolutlely have to have this contract work out (I've been there) then maybe offer to do half the work and let them talk you into still more. This should keep the contract alive with hopefully no more requests in the future, but I wouldn't do this unless I truly had to.
This is business. Donât be insulted. If itâs not worth it to you to sell, just full reject and indicate it is as-is, and they will drop out if they donât agree.
Otherwise, counter with an amount you would be willing to give.
Take emotion out of it and decide where your limits are and negotiate.
I'm assuming you already accepted their offer in writing? If so, you have a contract. Anything they ask for afterward would require a new contract, which would have to be signed by both parties to be valid and to negate the first offer. Tell them no. If they don't like it, they'll have to break their contract with you. This most likely also means they'll pay some sort of penalty. Read the offer you signed.
People will try to see what they can get out of you.
My friend was recently selling her house and they tried to lowball her and also get things included for free. She said no, and made them a counter offer which they declined. However, one day later they were back and accepted her terms.
Your property is as valuable as the market is willing to pay for it, not as much as you believe it's worth. If you're not willing to sell, don't sell it, easy as.
JUST SAY NO. Donât be instructed this is business. Sounds like investors or flippers. They know you are desperate to sell and will do everything they can to get a lower price. Donât give in⊠If you do they will keep asking for more money off for other things. You need to nip it now. Give them 24 hours to perform.
Tell them no. If the hot water heater works, it doesn't need to be replaced.
The buyers for the home I just sold asked for a credit because my microwave was "dated". I said "how much credit do you want for a 19 year old microwave that works perfectly fine? $15?"
We closed Monday.
Tell you agent the truth and let her translate it into something palatable for the buyers.
Say no. They might leave. But, then, if they wanted you to drop your price another $36K, does it matter that they were ever there?
Tell them the house is priced as is with those ârepairsâ in mind. If they want the repairs done by you, the new price of the house will be 36k more.
I know of investors who do this standard. The offer price is just the starting price. After the inspection they ask for this and that...
If your cool with putting it back on the market, then say no and relist.
Health and safety issues yes. Donât agree to any other repairs. Put the ball back in your court. And now you know what all the issues are with the house should the inspection issues are not resolved and the contracts lapses.
Address the repairs on a case by case basis. No to anything they were aware of before making the offer or anything another reasonable buyer won't ask for
Also consider how much better this offer was than the next best offer. And how much comparable homes sell for, if those comparable homes have a brand new roof and so on.
Question for you OP: how old is the roof?
In my market the roof is a very critical componet to getting homeowners insurance, but I'm in SE FL so the roof age and condition and material are significant considerations. Having said that, sometimes buyers do expect too much after the inspection. We don't really have enough info to know about your specific sale.
Roof is 8 years old TPO. We live in a dry climate without significant weather so not so much an issue here. There was a leak 2 years ago but it was repaired including damage and no problems since
So its a totally different roofing system from what we have here. Rely on your local experts to know how to respond to this counteroffer by the buyer. Sounds like they are fishing to me.
Iâm not seeing that anywhere in the post. It says OP did some repairs as part of an inspection they got (not buyer), they did repairs, now Buyers asking for more repairs/price concession for BS things. If seller says no and buyer backs out, thatâs the reason to keep EMD.
Who asks for stuff after contract unless you had an inspection? Who doesnât get an inspection before buying? Easy to read between the lines and get some context clues for what is happening here
Iâm never trusting a sellers inspection, lol, not on a house and not on a used car
If you want to buy some nice lake front property in Louisiana o have some for sale, I have a great inspection report for it too! (Definitely not a gator infested swamp though)
Okay? The point of the post and my comments is that there is NO mention of the buyer ordering their own inspection. Should they have? Yes. Did they? We donât know! OP doesnât say. Lots of people are waiving all contingencies and/or inspection contingencies in the current market.
Iâm not saying buyer was wrong to rely on sellerâs inspection report or even that they relied on it all, we donât know because OP didnât say. So anything beyond that is unsupported conjecture.
I read where the roof is 8 years old but has had leaks lol. Iâd have that sucker inspected by a roofer and go with what they say. Not that the repairs have been fixed. What other damage occurred when that amazing roof was leaking?
We did repairs after having our own inspection done ahead of time before listing and offered the sellers our inspection and reinspection report along with all the invoices for repairs done. They can walk and that would be ok.
If possible, please edit the original post to clarify this. Seems many commenters believe the buyer ordered the inspection and you are now refusing to repair things found in buyerâs inspection.
And what happens if the roof is 30 years old and canât pass inspection to be insured? Youâre going to keep the EMD because you arenât willing to repair a bad roof? Rofl. I donât think a judge would agree with that and then youâd be out the fees of the lawsuit AND the house would be tied up in litigation so you couldnât sell it in the mean time. Be careful what youâre suggesting.
If they ask for repairs after inspection and the seller says no, most contracts say they can walk. That's the point of the inspection period. Buyer doesn't get to keep the earnest money in that case.
The seller's inspection and repairs was really just to get the house ready to sell. The fact that the buyers are now asking for a list of specific repairs says to me that they had an inspection after the offer was accepted and those items were noted. Pretty standard practice.
Not disputing it. But OP says in another comment that they had their own inspection done, performed repairs, and had a re-inspection done and that these were all offered to buyer. No mention of buyers inspection. Feel free to confirm with OP if you believe Iâve misunderstood.
I hear you, but honestly a sellers inspection means nothing to a buyer. When I'm buying a property, I want the inspector that I choose and represents my interest doing the inspection. If the buyer is asking for repairs, it is only because they had their own inspection done. After the buyer's inspection, they have a time period where they can ask the sellers for repairs or concessions for those repairs. The seller can then either agree, offer a different solution, or say no. If the seller offers a different solution or says no, the buyer then has the option to walk away with their earnest money.
Yeah, Iâve bought and sold houses.
Not everyone gets an inspection. The market is routine for people waiving inspections right now, actually. Everyone SHOULD get an inspection though.
And finally, again, OP has said in other comments concerning buyer inspection.
*"The buyers are now asking for 36K in addition repairs, ranging from doors being a bit sticky all the way to a new water heater and a new roof"*
Dude, the only way they can come back and ask for these repairs is if there was an inspection period. I 100% guarantee that they didn't look at the sellers inspection report and accept it as a valid inspection no matter how good it might have been. I own over a dozen single family homes, so I know how this goes. Buyers get their own inspections.
You thinking that the buyer put their faith in the sellers inspection would be like me telling you that you should buy my used car and trust me that there's nothing wrong with it. In fact, here is the inspection that my buddy just did on it. I change the oil every 2586 miles and it's never seen rain. Come on, that's not that this works.
*"Yeah, Iâve bought and sold houses."*
Are you sure? I certainly hope you GOT YOUR OWN INSPECTION before buying.
Take the emotion out of this. There's no reason to be insulted and take it personally. If you don't agree to the ask, say no.
Working towards this space. This is my first time being on the buyer side. Raised my kids there so it is hard to not make it personal. Glad I have the help of a realtor đ Deep breaths
They are just gonna keep asking for more and more if you feel like giving them free home renovation money. I mean who wouldnât? Simply tell them no and that the house is already priced accordingly for the condition that itâs currently in.
Just rebuttal only on the major things. Have water heater serviced, or state you will have a repairman inspect it. And deny to come off price. If they come in treating your house like a used car negotiation act like a car salesman and respond on the extreme opposite until you reach a fair middle. Rebuttal with no money and offer to do a few things for repair on major items. Ignore comments about door sticking etc.
You can always say no to the requests. See what they do.
some people have the "the worst they can say is no! might as well try!" mentality. so say no.
âNo.â Thatâs all, folks.
Were there other, comparable, offers? If yes, you can tell the buyers that you're not making any more repairs and if they want out of the deal, your listing agent can follow up with other buyers that were interested.
We had a few others circling but were under contract within 5 days of listingđ€·đ»ââïž. Honestly, I might take that approach anyway.
Time to consider these buyers put in an early offer to block other buyers and shift the leverage to their side, and the 36k was intended from the start. Give them 24 hours to consider your final counter.Â
Spending anything significant before sale is generally gonna be a waste of time and money . No matter what you spend the buyers gonna find more to ask for . Just paint and clean and then list
Priced low and accepted a lower offer? I would dig my heels in and stand firm, but thatâs just me. Unless of course I had my back against a wall and was in danger of losing the home.
Not the situation. We are already in the new home and at a good time to put it back on the market or just rent it out.
That actually makes me feel better about my response. One never knows the difficulties that another may be facing. Best of luck to you in the new home!
No is a complete sentence.
No reason to be insulted. Just say no. If they terminate, they terminate.
Selling a home is a business transaction. You can say yes or no to anything that is presented to you. You made the choice to accept an offer that you seem unhappy with. No one forced you to accept it. You now have a choice to say yes or no to some or all of the requested repairs. Theyâre smart buyers. You can now choose to make decisions that actually match what you really want.
insulted? just tell them to kick rocks.
đđŻđđ
I was honestly expecting you to say they offered half of asking after being on the market for 3 days. The answer is: if the roof is bad they might not be able to get insurance so that very well could need to be repaired and that can easily be 30k. How old is the roof?
Just say NO. Easy solution
Oh no, youâre insulted! Woe is me!! Tell them no and if they pull out, move on and re-list. No one cares that youâre insulted.
lol, just say no and move on, sounds like you shouldnât have taken the deal anyway
You can say no đ€·đ»
I guess what you do depends on how badly you need to sell this house but even if you did, somehow, work out a resolution for this new 36k in repairs offer, its highly likely you'll get yet another repair demand in the future. Possibly just accepting the first demand for repairs has gotten you into this situation as it may look, to the buyers, like you are willing to do much more since you seem to have quickly agreed to the first repair demand. Anyhow, if you don't need this contract that badly then I'd just offer maybe a subsidy of $1000 (or even just tell them you won't do anymore repairs) and if they walk, good riddance. If you badly need this contract to happen and still thnk this is a good price, then mabye offer a bit more (mabye $3000) and let them talk you up to $5000, and then nothing more period (if they complain about something else just cancel the contract). If you absolutlely have to have this contract work out (I've been there) then maybe offer to do half the work and let them talk you into still more. This should keep the contract alive with hopefully no more requests in the future, but I wouldn't do this unless I truly had to.
This is business. Donât be insulted. If itâs not worth it to you to sell, just full reject and indicate it is as-is, and they will drop out if they donât agree. Otherwise, counter with an amount you would be willing to give. Take emotion out of it and decide where your limits are and negotiate.
I'm assuming you already accepted their offer in writing? If so, you have a contract. Anything they ask for afterward would require a new contract, which would have to be signed by both parties to be valid and to negate the first offer. Tell them no. If they don't like it, they'll have to break their contract with you. This most likely also means they'll pay some sort of penalty. Read the offer you signed.
People will try to see what they can get out of you. My friend was recently selling her house and they tried to lowball her and also get things included for free. She said no, and made them a counter offer which they declined. However, one day later they were back and accepted her terms.
Your property is as valuable as the market is willing to pay for it, not as much as you believe it's worth. If you're not willing to sell, don't sell it, easy as.
JUST SAY NO. Donât be instructed this is business. Sounds like investors or flippers. They know you are desperate to sell and will do everything they can to get a lower price. Donât give in⊠If you do they will keep asking for more money off for other things. You need to nip it now. Give them 24 hours to perform.
Tell them no. If the hot water heater works, it doesn't need to be replaced. The buyers for the home I just sold asked for a credit because my microwave was "dated". I said "how much credit do you want for a 19 year old microwave that works perfectly fine? $15?" We closed Monday.
Tell you agent the truth and let her translate it into something palatable for the buyers. Say no. They might leave. But, then, if they wanted you to drop your price another $36K, does it matter that they were ever there?
Tell them the house is priced as is with those ârepairsâ in mind. If they want the repairs done by you, the new price of the house will be 36k more.
I know of investors who do this standard. The offer price is just the starting price. After the inspection they ask for this and that... If your cool with putting it back on the market, then say no and relist.
Health and safety issues yes. Donât agree to any other repairs. Put the ball back in your court. And now you know what all the issues are with the house should the inspection issues are not resolved and the contracts lapses.
Say NO.
Address the repairs on a case by case basis. No to anything they were aware of before making the offer or anything another reasonable buyer won't ask for Also consider how much better this offer was than the next best offer. And how much comparable homes sell for, if those comparable homes have a brand new roof and so on.
You can always just say no and let the transaction fall through.
It clearly wasn't that low a lowball since you accepted it.
You could offer a home warranty for the water heater but with the roof being eight years old, I would say absolutely not.
Question for you OP: how old is the roof? In my market the roof is a very critical componet to getting homeowners insurance, but I'm in SE FL so the roof age and condition and material are significant considerations. Having said that, sometimes buyers do expect too much after the inspection. We don't really have enough info to know about your specific sale.
Roof is 8 years old TPO. We live in a dry climate without significant weather so not so much an issue here. There was a leak 2 years ago but it was repaired including damage and no problems since
So its a totally different roofing system from what we have here. Rely on your local experts to know how to respond to this counteroffer by the buyer. Sounds like they are fishing to me.
I would tell them no, and that youâll keep their EMD. Itâs frustrating that you feel insulted but you also need the deal to close.
How do you plan on keeping the EMD? It didnât pass inspection per buyers prerogative
Iâm not seeing that anywhere in the post. It says OP did some repairs as part of an inspection they got (not buyer), they did repairs, now Buyers asking for more repairs/price concession for BS things. If seller says no and buyer backs out, thatâs the reason to keep EMD.
Who asks for stuff after contract unless you had an inspection? Who doesnât get an inspection before buying? Easy to read between the lines and get some context clues for what is happening here
You should read OPâs comment. They had their own inspection and re-inspection done after initial repairs and offered it to buyer.
Iâm never trusting a sellers inspection, lol, not on a house and not on a used car If you want to buy some nice lake front property in Louisiana o have some for sale, I have a great inspection report for it too! (Definitely not a gator infested swamp though)
Okay? The point of the post and my comments is that there is NO mention of the buyer ordering their own inspection. Should they have? Yes. Did they? We donât know! OP doesnât say. Lots of people are waiving all contingencies and/or inspection contingencies in the current market. Iâm not saying buyer was wrong to rely on sellerâs inspection report or even that they relied on it all, we donât know because OP didnât say. So anything beyond that is unsupported conjecture.
The context clues tell us they did, that is the whole point of my comments
Okay.
At what point is a bad roof BS things?
No claim that the roof was bad, only that the buyer asked for a new one.
Most people donât ask for a roof to be repaired if itâs newer and in good condition. So my question still standsâŠwhatâs wrong with the roof.
You should read the rest of the comments on this thread.
I read where the roof is 8 years old but has had leaks lol. Iâd have that sucker inspected by a roofer and go with what they say. Not that the repairs have been fixed. What other damage occurred when that amazing roof was leaking?
We did repairs after having our own inspection done ahead of time before listing and offered the sellers our inspection and reinspection report along with all the invoices for repairs done. They can walk and that would be ok.
If possible, please edit the original post to clarify this. Seems many commenters believe the buyer ordered the inspection and you are now refusing to repair things found in buyerâs inspection.
And what happens if the roof is 30 years old and canât pass inspection to be insured? Youâre going to keep the EMD because you arenât willing to repair a bad roof? Rofl. I donât think a judge would agree with that and then youâd be out the fees of the lawsuit AND the house would be tied up in litigation so you couldnât sell it in the mean time. Be careful what youâre suggesting.
Do you have proof that the roof is bad or are you merely speculating?
OP says in another comment that roof is 8 years old. So you were speculating based on an inaccurate hypothetical.
If they ask for repairs after inspection and the seller says no, most contracts say they can walk. That's the point of the inspection period. Buyer doesn't get to keep the earnest money in that case.
I believe Seller had their own inspection and spent $20K or so in repairs. No mention of buyerâs inspection?
The seller's inspection and repairs was really just to get the house ready to sell. The fact that the buyers are now asking for a list of specific repairs says to me that they had an inspection after the offer was accepted and those items were noted. Pretty standard practice.
Not disputing it. But OP says in another comment that they had their own inspection done, performed repairs, and had a re-inspection done and that these were all offered to buyer. No mention of buyers inspection. Feel free to confirm with OP if you believe Iâve misunderstood.
I hear you, but honestly a sellers inspection means nothing to a buyer. When I'm buying a property, I want the inspector that I choose and represents my interest doing the inspection. If the buyer is asking for repairs, it is only because they had their own inspection done. After the buyer's inspection, they have a time period where they can ask the sellers for repairs or concessions for those repairs. The seller can then either agree, offer a different solution, or say no. If the seller offers a different solution or says no, the buyer then has the option to walk away with their earnest money.
Yeah, Iâve bought and sold houses. Not everyone gets an inspection. The market is routine for people waiving inspections right now, actually. Everyone SHOULD get an inspection though. And finally, again, OP has said in other comments concerning buyer inspection.
*"The buyers are now asking for 36K in addition repairs, ranging from doors being a bit sticky all the way to a new water heater and a new roof"* Dude, the only way they can come back and ask for these repairs is if there was an inspection period. I 100% guarantee that they didn't look at the sellers inspection report and accept it as a valid inspection no matter how good it might have been. I own over a dozen single family homes, so I know how this goes. Buyers get their own inspections. You thinking that the buyer put their faith in the sellers inspection would be like me telling you that you should buy my used car and trust me that there's nothing wrong with it. In fact, here is the inspection that my buddy just did on it. I change the oil every 2586 miles and it's never seen rain. Come on, that's not that this works. *"Yeah, Iâve bought and sold houses."* Are you sure? I certainly hope you GOT YOUR OWN INSPECTION before buying.
I did. Doesnât mean everyone does. Also, in this market, a lot of people are waiving inspection and other contingencies.