Our house is under contract. The buyer's inspection was last week and they had until Saturday to get back to us with any feedback.
My realtor was out of the country so just checked in with me this morning. His message was - He sent over the reply and inspection report this weekend, however I wanted to talk with him before going over everything with you.
This is obviously bad news. What could it mean? I won't be able to talk with him until this afternoon and my mind is racing.
I'd ask to see the inspection report. I don't see why he'd need to go over it with the inspector before you seeing it.
I think my op was unclear. My realtor wants to talk with the buyers realtor before sharing their response and the report with me.
I'm guessing this must mean the inspection report showed something really bad?
No, it might not be really bad, but there might be items that your buyers want concessions on and your REA wants to clarify the issue/their request. Don't borrow trouble And I guess it may vary by state, but when we bought in Florida, we as buyers had no obligation to share the full inspection report with out sellers/their agent (at least that was what our REA said).
Post by downtoearth on Feb 23, 2015 10:59:29 GMT -5
Yeah, our last realtor tried to copy and paste the exact notes from the inspection and royally screwed it up somehow. I wouldn't let her send it over until she let me re-write the things we were asking for b/c as she wrote it, it sounded like we wanted the entire house rewired, when what we really wanted was one room to have the appropriate conduit for the wiring and a new, updated breaker box. I'm guessing your realtor just needed clarification on the terms b/c they weren't clear.
Your agent can't discuss/come to an agreement with the buyer's agent without your consent or knowledge. Even trying to knock a few items off the inspection report request - that's not up to your agent to decide without you. So I'm guessing it's just clarifying.
Post by hopecounts on Feb 23, 2015 15:04:31 GMT -5
Our agent did this, the inspection report was poorly done so she wanted to clarify some of the requests from the buyers before going over it all with us to speed things along. There were no big issues and it was minor things that we were happy to address and none were particularly costly.
I would also assume clarification rather than something particularly bad. Keep us posted if you're willing!
Just heard from the realtor - finally! He's going to come over and go through the inspection report point by point with us tomorrow but it sounds like they have asked for every single thing mentioned in the inspection report to be credited or fixed before settlement which is in 4 weeks .
We live in a 100 year old house, and so while we have worked hard to keep it well maintained it needs some things here and there which obviously add up. I'm so disappointed I had really hoped they would be more reasonable.
I guess at this point, I would go over with your realtor what you want(or not) to fix or credit. It's up to the realtors to go back and forth. I have a feeling most people ask for everything to get fixed and then it negotiates down to critical fixes. Hope all works out for you.
My approach was I would fix x, y and z and pay for one year of home warranty.
Good luck. They may find a reasonable middle ground, or they may be in over their heads and looking for an out.
We were already giving them a home warranty per their request in the first round of negotiations. I saw the inspection report last night. They are literally asking for every single thing in the report (even what is labeled in the report as normal for the age of the house) to be credited or repaired.
I hope we can come to an agreement but it is looking doubtful.
My approach was I would fix x, y and z and pay for one year of home warranty.
Good luck. They may find a reasonable middle ground, or they may be in over their heads and looking for an out.
We were already giving them a home warranty per their request in the first round of negotiations. I saw the inspection report last night. They are literally asking for every single thing in the report (even what is labeled in the report as normal for the age of the house) to be credited or repaired.
I hope we can come to an agreement but it is looking doubtful.
Hopefully they will negotiate down. We asked for some stuff we didn't really care about so we had something to give up in negotiations. Asking for everything is crazy though. If they want perfect, they should build new, and even that's no guarantee.
I'm sorry. They sound ridiculous. Sometimes, after an inspection, it comes to light that a parent or someone else has freaked them out about everything.
I'd either come up with a reasonable credit or pick the things your agent thinks are reasonable/normal to repair and offer that.
Post by iammalcolmx on Feb 24, 2015 9:35:12 GMT -5
Before I speak on how ridiculous they are being, how many things are based on the normal age of the house compared to those straight up needing repair? Also I think Home Warranty's aren't worth anything.
I'm also on the side of ridiculous. As the owner of a 95 year old house, well, you go into it expecting that it's not perfect. We had about 30 items on our inspection report. And the house needed some work, but there were things like a cracked window pane on a garage window, for example, or a lack of railing on one side of the back steps that were just not major issues in the long run. We asked for about 5, all of which were either major (electrical wiring) or a safety issue (changing the plastic dryer vent tubing for metal). Off the top of my head, they did the dryer vent, fixed a broken pipe in the crawl space, put a filter over the furnace intake, and credited us for the electrical work at closing. There may have been one more small thing I can't think of.
My approach was I would fix x, y and z and pay for one year of home warranty.
Good luck. They may find a reasonable middle ground, or they may be in over their heads and looking for an out.
We were already giving them a home warranty per their request in the first round of negotiations. I saw the inspection report last night. They are literally asking for every single thing in the report (even what is labeled in the report as normal for the age of the house) to be credited or repaired.
I hope we can come to an agreement but it is looking doubtful.
Our buyers did the same thing. It was nothing major but more things that are annoying and general maintenance and normal wear and tear (i.e. clean out the dryer vent (even though I had cleaned it 2 weeks prior), re-caulk a perfectly good tub because there was a very small part of mold mildew). We fixed like 2 of the 5 and then offered $300 for the rest and they accepted.
My understanding is that you don't have to fix everything but I would talk to your agent. Our agent also told us not to get into the home warranty discussion and we agreed we wouldn't be offering it.
Stay positive, you already have an offer don't let the inspection make it fall apart. I know it's easier said than done but it'll work out
I don't expect you to answer these but you probably have more negotiating power than you think. How long was your house on the market before you got this offer? Is the offer below/above asking price or how in line is it with what your true rxpectation was?
Like a po said, they can ask for a pony and the moon, doesn't mean you will give it to them. Go through it yourselves and with your realtor and come up with a reasonable counter.
I don't expect you to answer these but you probably have more negotiating power than you think. How long was your house on the market before you got this offer? Is the offer below/above asking price or how in line is it with what your true rxpectation was?
Like a po said, they can ask for a pony and the moon, doesn't mean you will give it to them. Go through it yourselves and with your realtor and come up with a reasonable counter.
Our house was in the market for 3 months before we took it down, renovated the kitchen, and relisted it for the same price. It then sold in less than a week. They made a full price offer.
After meeting with the realtor we learned that they wrote a somewhat crazy response to the inspection report where they requested every single thing in the inspection report to be credited or repaired. The credits added up to about $7000 and the repairs are another $5000 or so.
Our house is 95ish years old. It is in pretty good condition but as an older house it has some wear and tear. Many of the things were listed as "normal for age" in the inspection report but they asked for the credit anyway. And some of the things were really just nit picky. We also have some original windows (pretty common in our area) in our house but took that into consideration when pricing the house for sale. They want them replaced. They are all in perfect working condition.
So our realtor is going back and forth with theirs to see if we can come to some sort of compromise. Hopefully this will all get resolved soon as they requested a pretty quick settlement so we really need to get moving!
Thank you all for calming me down! This is our first time selling so it's all new to us.
I don't expect you to answer these but you probably have more negotiating power than you think. How long was your house on the market before you got this offer? Is the offer below/above asking price or how in line is it with what your true rxpectation was?
Like a po said, they can ask for a pony and the moon, doesn't mean you will give it to them. Go through it yourselves and with your realtor and come up with a reasonable counter.
Our house was in the market for 3 months before we took it down, renovated the kitchen, and relisted it for the same price. It then sold in less than a week. They made a full price offer.
After meeting with the realtor we learned that they wrote a somewhat crazy response to the inspection report where they requested every single thing in the inspection report to be credited or repaired. The credits added up to about $7000 and the repairs are another $5000 or so.
Our house is 95ish years old. It is in pretty good condition but as an older house it has some wear and tear. Many of the things were listed as "normal for age" in the inspection report but they asked for the credit anyway. And some of the things were really just nit picky. We also have some original windows (pretty common in our area) in our house but took that into consideration when pricing the house for sale. They want them replaced. They are all in perfect working condition.
So our realtor is going back and forth with theirs to see if we can come to some sort of compromise. Hopefully this will all get resolved soon as they requested a pretty quick settlement so we really need to get moving!
Thank you all for calming me down! This is our first time selling so it's all new to us.
@juno
Id fight hard on replacing the Windows. Originals in good repair aren't nearly as bad as people act like. do you have storms for winter?
They are downright crazy. Good luck. If you got a full price offer in a week after the kitchen reno, don't give away the house to crazy people. If they walk, there will be another.
af1212 I hope things work out and go smoothly for you.
H and I are buyers and had an inspection done (on Feb 24th) on the townhouse we made an offer on. We only asked for two things and the rest of the (very minor) things we'll take care. It's a sellers market here so our REA was very clear that we'd be lucky to get them to agree to fix one of the issues.