Step 10- Negotiating Repairs
Once we complete the inspections, we will then prepare a repair request for the Seller. In Arizona, the Seller is not obligated to fix a thing when it comes to the home. This is crucial information to know! In
this portion of the transaction, it is critical to have an agent on your side who knows how to prepare the repair request and guide you through the sticking points.
If there are 20 things wrong with the home (which by the way, is about average), but only 5 of them are beyond normal wear and tear, that is where we will most likely want to focus our attention. Again, education is key. Know what is going on with the home so that you can make an informed decision as to whether you are comfortable moving forward with your home purchase or if there is another home of your dreams out there.
Here is the breakdown of what happens once we submit our requests to the Seller – we have one bite at the apple, so make it good! The Seller has 3 ways to respond to our requests… 1. They can tell us to ‘pound sand’ as I like to say, which means, they mark the box that says, we will not make any repairs. 2. We agree to these items listed meaning, we will fix these items but not those items or we will credit you this for the repairs. 3. We agree to repair all items that you have requested (if they choose this option, yay for us, we move right on to the next step). If option 1 or 2 is given in the response, our 3 day acceptance/cancellation period begins.
I will hold your hand through this entire process, so know that you are not going at it alone!
Join me next week as I share step 11 where we talk about completing the bank appraisal! Did you miss step 9? Catch it here!