What’s appropriate and what’s not when it comes to making repair requests as a homebuyer? Keep reading to find out.
Although we have a lot of new activity on the market, we’re seeing a high percentage of houses fall out of escrow. The main reason behind this is that a lot of misunderstandings are occuring when it comes time for buyers to request repairs.
Over the last few years, home sellers have all but ignored repair requests from buyers. When they’re getting multiple offers, they have the luxury of moving on to the ones that don’t require repairs. In today’s market, however, sellers are having to concede a bit more and they aren’t used to it. At the same time, buyers are getting bolder. So, what repair requests are appropriate in today’s market?
The first item that’s always fair to ask for is any problem that causes health and safety risks. For example, if a garage door has a broken motion sensor and you have children or pets, that’s a dangerous situation.
The second type of repair is something that you can’t identify when you go through the house and make your offer. An example would be a roof leak in the attic that isn’t visible during a walkthrough but is found during an inspection.
Where you’ll find some real pushback is with things you should have noticed when you first walked through the house. If you see a broken window, loose floorboards, or something else obvious when you first see the home, you need to include those request in your original offer.
Most people understand this, and if the buyer’s agent educates the buyer, it’s usually not an issue. However, buyers who come through with excessive requests typically cause the deal to fall apart. A lot of times, these people are working with agents who aren’t as experienced, which leads to more problems.
A lot of buyers look at real estate as a business transaction and are used to transactional dealings. However, real estate has an emotional attachment to it, which can make things tricky. When you have different styles and cultures, the request for repairs is usually the final hurdle and it’s extremely important that the buyer has a capable agent to make sure things go smoothly.
If you have any questions for me or know someone who is looking for help buying, selling, or investing in real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.