Should You Ask For Repairs On A Home You Are Buying?
As you shop for a single-family home to buy, you might notice that most houses you view need some work. You might find a rare home here and there that does not need work, but most homes will need at least a few minor alterations or repairs. Should you ask for repairs on a home you are buying? Many people do, but there are also times when buyers do not ask for repairs. Here are several factors to consider as you decide whether to ask for repairs on a home you want to buy.
Did You Include a Home Inspection Contingency?
The first thing to consider is the contract you gave to the seller. The contract is a purchase agreement, and you can add all kinds of things to this document. If you added a home inspection contingency, you could hire a home inspector to view and analyze the home. If the inspector finds problems, they will let you know by writing them on the inspection report. When this occurs, you can review all the issues the inspector found before asking for repairs.
Does the Home Price Factor in the Problems?
Another thing to consider is the asking price of the home. Did the seller factor in all the issues the home has? If so, you might not want to ask them to make repairs. If you are getting a good price on the home with the problems it has, the seller might not want to budge any more with the price. Additionally, were the problems the home inspector found things you already knew about when you viewed the home? If you knew about the issues already, you might not want to ask the seller to repair them. If you did not know about them, you could ask the seller to pay for them.
Do You Want to Make the Repairs?
Finally, you might want to consider two things. First, are the problems minor enough that you still want to purchase the house? Secondly, would you prefer making the repairs yourself or having the seller make them?
If you find out that the home has more serious problems than you thought, you can walk away from the deal. If you decide to purchase the house still, you can decide if you want to make the repairs or ask the seller to make them. You can then negotiate on the price based on what you decide. If you have questions about these things, talk to a real estate agent in your area.