Right off the bat, it’s important to know that negotiating after a home inspection isn’t a bad thing. Most people think that it is, and we understand why; you probably think you’ll have to pay a higher price for the property, or even lose the property.
It’s usually the other way round.
Why Letting Sellers Handle House Inspections Matter
Let’s say you found a house that you like immensely, and you can’t wait to get the deal done with. Maybe you don’t have much time or maybe you’re afraid the property will have too many interested buyers. All of that is valid, but the fact that the house needs repairs is also a matter of great concern.
Worse still, if the house needs extensive foundational repairs, would you be comfortable investing in such a prospect? If it isn’t taken care of at this point, you’ll have to take care of it at some point in the future. That will cost money that you can save—by delegating the task to the seller.
Identify the Issues Yourself
Don’t go alone when you’re inspecting the house. Take a contractor you trust or a professional house inspector with you. Their experienced and keen eyes can identify minor and major issues in the property.
Ask them to prepare a house inspection report for you so you have a comprehensive, detailed idea of all the repairs the house requires. Be sure to point these issues out to the seller (or the real estate broker) during or after the inspection. Should they present excuses, buy neither their pretexts nor their property.
Also read: How to negotiate after a home inspection and win! 6 quick tips
What to Look Out for on House Inspections
Bear in mind that the post-inspection negotiations depend largely on your findings during the inspection. Let the house inspector be your guide, but go in armed with basic knowledge of things you need to look out for. In particular, look for:
Plumbing Issues
Leaks, clogged drains, jammed pipes, water pressure
Electrical Issues
Open junction boxes (major safety hazard!), broken outlets, lights too dim or too bright, circuit overloads
Mold and Mildew
Mold growth is a terrible safety hazard that can also weaken a house’s foundation. Look for this nuisance in humid areas such as basements and kitchens.
Foundation and Structural Issues
At times the most expensive issues you can run into, foundation flaws can be detected via cracks and degradations.
Grading
Improper grading is a good indicator that the house has suffered some calamity. It could also mean that the house was improperly graded from the start. Look for slopes in basements.
How to Proceed with the Negotiation
As repair price estimate providers, we at Repair Pricer has helped 84,020 customers over the years. We recommend that you leave the repairs to the seller. Unless you know a reliable contractor who might give you a discount on the repairs, we wouldn’t suggest buying a house that requires repairs.
Of course, you might think that you can buy the house for a lot cheaper if the house needs repairs. You can point out how many flaws the house has to the seller, and proceed from there, forcing them to lower the rates.
However, always know what it will cost you before making such a decision. For an accurate repair cost estimate, you may reach out to us and send us your inspection report. We will turn it into an accurate estimate in just a day.