Home Inspections & Repair Negotiations for Sellers

Posted by Jim Kimmons, Broker/Owner • January 11, 2008 • Printer-friendly

If you haven't sold a home recently, it is easy to forget how frustrating a home inspection can be. Today's inspectors, hired by the buyers, are looking at more than ever before. In Taos, we even have Radon inspections happening more frequently. A seller in the Taos real estate market needs to be prepared in several ways for an inspection:

Make minor repairs even before you list the home.
Know that the inspector will write up even minor defects they see.
Allow some room for repair costs in your final purchase price negotiation.
Don't be offended by the inspection report or the buyer(s)' demands.
Work with a real estate broker skilled in this type of negotiation.

At Gallery Realty of Taos, we're working for our Sellers and trying to get them closed with the maximum amount of money in their pockets. However, being realistic about property condition is important. Allowing some room in your desired net amount for repairs is important. If you do, and the buyers don't ask for much, you put more in your pocket. If they are bargaining hard for repairs, at least you've prepared for it monetarily.

It's OK to say no to repair demands. Deals can fall through, but sometimes that's the best result. Again, planning from the beginning with the listing price, and keeping repair negotiations in mind during the purchase negotiation phase, will usually head off deal-killer scenarios.