Home inspections and negotiations

[CTR0022]

Have a question for yall realtors. I'm in the process of buying a home, had the inspection done today. The inspector went over the inspection and his findings and recommended negotiating the big ticket items.

A few hours later we are talking to our realtor, and they are kinda brushing everything off and saying there isn't much we can do about it.

Wife and I are kinda not feeling the realtor is in our corner, especially when we are already paying $42k over list price. We aren't expecting huge discounts, but would like the items fixed or a credit in the $5k-$7,500 range is what we believe is fair based on the inspectors findings.

What do yall think?

[CoolHandLuke]

Cant you tell the realtor what you want to do since they do work for you?

[JayB]

#1 you need to have confidence in your agent. Confidence=Trust

#2 there is no List price on a home. Asking price is what you are saying?

#3 not many homes are going for higher than market currently. Did you ask for an appraisal?

#4 if things need repair and you don't want to do the repairs, RUN AWAY.

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[andre3k]

Your realtor works for your best interests. Have them ask for the repairs or the price concessions and see what the sellers says. If your realtor isn't being responsive then a conversations needs to happen.

Im surprised to see homes selling for over asking price in this market.

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[youngbuck1]

If your realtor won’t go to bat for you about the inspection, find a new one. If in dfw area I can suggest a great one that I’ve used to purchase many properties. Pm me if you want her info.

[adam_p]

Realtor knows there is a chance the seller goes with another offer that waves the inspection. If you're paying 42k over asking you aren't the only offer.

[Cox1]

Do you actually have an official buyers realtor representing you? Otherwise I believe it gets cloudy as to who is actually being represented in the sale. Current realtors can expand but that’s how I remember it.

[Greenheadless]

Everything is negotiable, sometimes not in the way you want them to be.

Maybe the realtor is saying by pushing the issue, you might be jeopardizing your position on the sale? You ready to walk away if they say no?

Also, I always take the credit if they allow, never have them fix. Use the credit to have the work done to your liking.

[youngbuck1]

Realtor knows there is a chance the seller goes with another offer that waves the inspection. If you're paying 42k over asking you aren't the only offer.

If they already accepted the offer they can’t back out for a different one. In my experience at least. We bought our last home in December 2020. Actually got to meet the sellers as they wanted to show the house to buyers. They took our offer and could not back out. He told me they were offered 100k over what we agreed upon as a sales price. He told me point blank. Think we had the first offer in and they had 12 after ours.

[jomw10]

Plenty of houses going above asking price. I’m finally closing on a house after being out bided in 4.
The seller cannot back out since they accepted your offer, but they are also not required to fix it. It’s up to you how hard you want to push. Maybe show the inspection and ask for a subset of things. When my son bought, the seller wouldn’t fix anything. My son had to do it or walk

[osochuck]

Plenty of houses going above asking price. I’m finally closing on a house after being out bided in 4.
The seller cannot back out since they accepted your offer, but they are also not required to fix it. It’s up to you how hard you want to push. Maybe show the inspection and ask for a subset of things. When my son bought, the seller wouldn’t fix anything. My son had to do it or walk

This x2
Tell your realtor to get with their realtor and see if there is any wiggle room.

I sure hope your realtor os fighting for you and has your best interest in mind and not a bigger pay day


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[toledo]

The inspector shouldn't be telling you how to negotiate. His job is to report on the house.

For me, id ask for consideration for the things that are-

1. Major issues.
2. Not already known prior to signing the contract.
3. Not normal for a home of that age.

If you stick with those three guidelines, you'll have a much better argument.

[Evolver]

Having been both buyer and seller, multiple times, I'm absolutely confident in saying that the only party who benefits from the home inspection is the home inspector. In my experience, about half of them are grossly underqualified or grossly under motivated and the fine print clarifies that is all just opinion and they're not liable for anything.

Depending on local market and larger buyers'/sellers' market environment, you can sometimes play the inspection report in your favor on either side of the deal. But either way, neither party is obligated to concede. All your negative inspection report does is give you a potential out on the contract, it doesn't create a mandatory concession from the seller.

All of that said, at the end of the day every transaction in the world comes down to the simple premise of what it is worth to the buyer and what it is worth to the seller.

[adam_p]

If they already accepted the offer they can’t back out for a different one. In my experience at least. We bought our last home in December 2020. Actually got to meet the sellers as they wanted to show the house to buyers. They took our offer and could not back out. He told me they were offered 100k over what we agreed upon as a sales price. He told me point blank. Think we had the first offer in and they had 12 after ours.

If the OP won't buy it without them giving a credit or fixing the issues it is the OP that is backing out not the seller.

[1riot1ranger]

Your realtor works for your best interests. Have them ask for the repairs or the price concessions and see what the sellers says. If your realtor isn't being responsive then a conversations needs to happen.

Im surprised to see homes selling for over asking price in this market.

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Actually, the Realtor works for the seller, who is the one paying their commission. I hate these renegotiations that happen after the deal, as a seller. If you should have seen the issues when making your offer then it's on you is my starting point. If they were not observable on the walk through then we can talk. Having said that, your requests sound reasonable. Tell your realtor that you will walk away and look for another deal and see what happens.