Do you Agree To the Seller’s Counter on Repairs?
You have the counter from the Seller stating he/she will fix certain things, but Not All things. Do you think they should, so you go back and state No to their Counter, or do you move forward with their Counter Offer.
In most cases you would work closely with your Realtor® to go over the details of the counter to verify there are No Major issues if they are not fixed. If the Repairs you requested are Major items (for ex: structural, mechanical, etc), then you have some real thinking to do. If they are Minor repairs (less than $500), then you may want to move forward and take care of them yourself. It all depends how bad you want the home and how important the fixes are.
If there are Major issues that need to be addressed, then it may be in your best interest to Counter Back to the Seller and ask for $X for the repairs (usually reducing the price of the home by that amount, but other creative ways may exist). For example, if there are support beams under the home that need to be repaired so the home/floors are more stable, you would get a quote from a contractor and go back with that dollar figure to the Seller. The key here is You get the repair done so You know how well the fix was done. If you let the Seller fix the major repair, they will for sure take the lowest bid and say it is Fixed.
In this case (this long Blog Story), the fixes and counter were for Minor issues (list below as I stated in previous Post):
The Seller agrees to fix number 1, 3, 4 (of 5 total repairs requested by you). They have stated that number 2 (landscape work to get water flowing away from foundation) is not something of importance and feel the buyer can put some dirt down to fix it themselves. They state that number 5 (back screen/storm door won’t close properly) will be fixed by carpenter so it closes properly and the door has a sliding storm window and that is good enough. If the buyers want a screen in it, they can buy one themselves and put it in.
You have discussed these items with your Realtor® and you have Agreed to the Counter, so you sign the Repair Addendum Counter. You are Officially Done With Due Diligence at this point. You have agreed to move forward and are heading to Closing. You have a few more options in the coming weeks before Closing to back out (legally). This will be discussed in coming Posts. Next week we will walk through the Repair and Re-Inspection Process.
Gary Buchanan/Realtor® w/AgentOwned Realty - email@example.com 843-647-7743