Hey wait I thought….
Hey wait I thought….
The negotiations were over. When you buy or sell a home the majority of the negotiations take place when the buyer puts in an offer. But it is not unusual for there to be more negotiations when the inspection turns out bad.
Sometimes a seller will dig their heels in the sand and not want to lower the price, or do any repairs because they think they have already done enough. So if you are a seller what are your options.
1.) Fix the issue
2.) Reduce the price to compensate for the problem
3.) Or NOT SELL THE HOME
Number 3 is the key to the whole issue of the negotiations. As a seller do you really want to sell? If so then your other two options are to fix the issue or reduce the price enough that the buyer is satisfied. Or throw something in like a hot tub or furniture.
Your other option is not to sell it to this buyer and put it back on the market. But if it is a major issue it will come up in the next inspection. 99.9% of all buyers have a home inspection done. So it will chance are next to zero that the problem won’t be found.
So if you have to fix the problem and then put it on the market you are losing money in taxes, utilities, and maybe a mortgage payment. Plus you have all the grief of having to show the house again. So what are you really saving by not fixing the problem now?
So the best way of selling your house is to negotiate a solution to make the buyer happy over the issue without losing too much money. Remember you will have to fix it at some point in the future.
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Should I offer a bigger commission on my house?[wnt_grid keyid=”1″ title=”Homes for sale in Royal Oak MI” maptype=”disabled” ownertype=”all” paginated=”true” sortoptions=”true” maxresults=”50″ search_mode=”form” primarysearchtype=”active” searchtype=”city” state=”MI” single_family=”y” condo=”y” min_price=”500000″ max_price=”1000000000″ listing_status=”Active” county=”Oakland” city=”Royal Oak” /]