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alexb
LIF Adult
Member since 5/13 960 total posts
Name:
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Home inspection report
Assuming your report had some issues mentioned, what did you do afterwards? Ask the seller to fix? Re-negotiate the price? Asked for a credit?
My lawyer is asking for us to re-negotiate the price but some of the things dont seem too bad.
Just wondering what everyone else's experience has been...the house was built in 1973 so naturally it will have a few issues.
Thx!
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Posted 3/17/16 9:27 AM  |
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Prudential Douglas Elliman Real Estate
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Home inspection report
There are ALWAYS going to be issues found on the home inspection. Usually, most of them are not things that most sellers would be willing to negotiate about. Unless it is something really big or out of the ordinary, you have to decide if you are still willing to go forward with the deal as originally agreed to. But, with that being said, it can't hurt to ask the sellers to take care of things that you think should be their responsibility or to compensate you for those things.
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| Posted 3/17/16 9:37 AM |
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loveus
LIF Adolescent
Member since 9/13 684 total posts
Name:
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Home inspection report
I found the inspection will always find stuff bc no house will be perfect.
There were some issues but nothing major and we were advised to go ahead and not ask for anything.
Based on the housing market today, I wouldn't rock the boat and ask for money for minor things. I'm sure the seller has other buyers who are interested. If the house has been on the market for a while you might have some luck. I would ask your buyer agents for advise.
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| Posted 3/17/16 10:19 AM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Home inspection report
Inspection reports are basically a list of things the need to be done and a time frame (generally) of when you would probably need to do them. Unless they find something major that is generally unknown to a lay person then the seller will not negotiate.
Houses are priced with say an older roof or something like that in mind.
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| Posted 3/17/16 10:45 AM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
Name:
Mama mama mama....
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Re: Home inspection report
It depends on the issues. If the house looks ok (or mostly ok) on the report, you might want to weigh your options, esp if there are other offers waiting in the wings. No house, even a new construction, is going to be perfect.
That said, we actually walked away from a house after we got the inspection report b/c there were so many things wrong - electrical problems, asbestos, problems with the roof, water damage... we ran for the hills lol.
Message edited 3/18/2016 1:27:22 PM.
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| Posted 3/17/16 10:53 AM |
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JDubs
different, not less
Member since 7/09 13160 total posts
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Re: Home inspection report
We tried to ask the seller to fix and they said no. We still bought the house because they weren't considered major issues.
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| Posted 3/17/16 11:09 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Home inspection report
It depends on the issues. Generally if they are items you would not have been aware of prior to making your offer you can attempt to negotiate.
This is a very critical time as another offer can come in the meantime and you could lose the house. So whatever you decide try to go about it quickly. Have your realtor send inspection report items for support of items requested and move fast if you need to get estimates for anything.
Good luck!
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| Posted 3/17/16 11:25 AM |
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Re: Home inspection report
Posted by JandJ1224
.....This is a very critical time as another offer can come in the meantime and you could lose the house. So whatever you decide try to go about it quickly. ...
Good luck!
Can't stress this enough - that the window of time from getting the accepted offer to scheduling the inspection is very small. We lost 1 house based on this (house was priced extremely low so multiple offers came in). Listed Wednesday, we saw it on Thursday, offers made Friday and we found out Sunday morning - we had the highest bid. Sunday: we schedule inspection for Monday - by Tuesday afternoon, we get a phone call from our agent that another buyer outbid us, so we lost the inspection fee. That really sucked but seller has the right to take any offer he/she wants regardless of whether the inspection happened yet or not.
As far as the inspection, we walked away from a house in Oceanside because of the inspection report. Not only did we have to convert from Oil to Gas (I hate oil heat), finish the basement, and buy new appliances, but the 2 central air conditioning systems were already 14 years old. Our inspector told us we would have to replace the 2 units within the next 5 years. There were also issues with the garage door (it wouldn't open) and the electrical outlets in the bathroom were not grounded correctly; the wires in the electrical panel in the basement was all tangled up, plus there the termite inspection showed part of the garage had some damage.
We ended up walking away from the house.
The older a house is, the more likely there will be issues. A house built in 1973 is honestly, IMHO, quite new compared to the majority of 1940s-1960s homes that you see on Long Island. If you have any issues you should probably discuss with your attorney whether the seller will fix them, and if not, whether they will credit you for the repair.
We just went through this for the house we are in contract for right now. Seller is supposed to fix the electrical panel in the garage but opted instead to give us a credit, so we know going into the house that we should get that done quickly.
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| Posted 3/17/16 4:03 PM |
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