After finding the right home and making an offer, you might feel excited and nervous all at once. Most people feel lots of emotions during this time, but hearing that the seller accepted the proposal does not close the deal. You will first have to get a home inspection on the property to see what the inspector thinks about the home listing. Once you get the inspection report, you might need to go back to the negotiation table. Here are some tips to help you know your options.
Determine If There Are Dealbreakers from the Inspection
The first thing to know is that a home inspection report might contain dozens of issues the inspector found during the inspection. The inspector must write down every issue found during the assessment, no matter how big or small. Most of the issues might be minor things that you can work with, but there might be specific things that void the deal. Issues that might fall into the dealbreaker category include foundation problems, water damage, or mold. If the home has some major issues that you do not want to deal with, you could consider it a dealbreaker and walk away from the home purchase.
Consider What to Ignore and What to Focus On
Most items on the list will not be dealbreakers. Instead, they might be issues that you can fix. It is vital to know that you should not ask the seller to fix every item on the list. Instead, you might want to think about which items to focus on and which to ignore. If you ask the seller to fix every last thing, they might void the deal and start looking for a different buyer.
Know Your Options
When you decide what issues to focus on, you can handle the negotiations in several ways. The first way is to ask the seller to fix these things at their expense. The other option is to ask the seller to lower the price to compensate you for making the repairs yourself. Both options work well when negotiating after a home inspection, and your real estate agent can explain the differences. You will have to choose how to handle them, and your agent might have other ideas other than these.
Negotiating after the home inspection is something that most buyers and sellers do. If you have questions about your options, talk to your real estate agent about homes for sale.