Negotiating repairs after home inspection
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- Опубліковано 3 жов 2018
- phoenixrealestateandhomes.com/
Negotiating repairs after home inspection is a time where we improve our buyer's deal. Happens almost every time.
If you're planning to buy or sell, you're going to have to fill out a BINSR. What is this, though? BINSR stands for Buyer's Inspection Notice Seller's Response and is a document that is used to request and negotiate repairs. To learn how it will apply to you directly when buying or selling, watch my latest video.
When we complete the inspections and have the general home inspection report it is time to get to negotiating repairs after home inspection. This is one of my favorite places in the entire purchase process.
While most agents run from this and wish it were not part of their job I tend to see it as an opportunity to sweeten the deal for my client. This is true for home buyers and can also be applied for homeowners who we represent when marketing their property. The real gems in any real estate deal occur when negotiations ensue. And any agent worth their salt should see it that way. This is where we earn our keep and help to get our customers more out of the transaction.
Learn more: www.phoenixrealestateandhomes...
I’m John Cunningham with eXp Realty. Thanks for stopping by my channel. Every Thursday I add new videos for you. The topics span the gambit and I always want to give information out that is going to help you with your real estate goals. If you have a real estate topic you’d like me to cover let me know. You can message me by any of the means below.
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Thank you for watching our video: "Negotiating repairs after home inspection".
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Had a home inspection this week (first time homebuyer) and this video was just the guidance we need! Thanks for your clear and straightforward content.
I am really glad it helped Victoria. Was there any other thing in your purchase process that you feel needs a video? I like providing video content that gives the info needed to navigate the process
John thank you for ALL the valuable information! You have a boat load of information in this vid, and is especially very handy for new agents like myself. Not only that, you took time out of your busy day to answer my call and answer additional questions I had. I truly appreciated our talk :)
Glad it was helpful Manuel. Let me know if you have a chance to apply some of that...
Very helpful and funny!
I like your style of sharing info. Very informative thank you sir!
Glad you think so Nicholas
The last time I was in the market for a house, my home inspector killed the deal. He was really good at his job. The Realtor's were not happy however. Too bad.
Been there. Not a fun outcome. I went to the school of hard Knox on that one. Now, I am VERY particular about who I use for home inspections. Not just the company, but the inspector themselves.
Hi, John, thanks for the straightforward, concise video. As a first time homeowner, I just completed an expensive inspection. Now, I'm anxiously waiting for the seller's response. Thanks for sharing. And I used logic and avoided submitting a laundry list of minor issues. Videos like yours have been a lifeline for the last couple of months. If the seller offers an extended warranty, what is covered and for how long?
It depends on the warranty company. They are all a bit different. some cover all appliances. some cover all air conditioning issues, while others cover a part, but noit all of it. Ask for a copy of the warranty brochure form the company they are buying the warranty from. if you have to company name you can probably download the warranty coverage from their website. I hope that helps.
If you are aware of any issue from an open house (for example noticing an ac unit is 20 years old) it would be better to keep that to yourself and then mention it at this stage to try and get the closing concession right? Thanks!
Honestly, I hadn't thought about that. BUT, I like the way you think. Maybe you should consider a career in real estate....
Hi John, thank you so much for your video! If a seller requests to have a 10 day buyer inspection contingency, does that mean that the inspection and any negotiations have to happen within the 10 days? Or that the inspection has to happen within 10 days, and after the 10 days you can no longer back out, but negotiations can still occur?
Normally a 10 day inspection ends after 10 calendar days from time of contract. Repair negotiations must be done before the 10 days is up unless both sides agree to something else. Your earnest money will be at stake if you decide to cancel due to inspection items after the agreed inspection period ends.
Hi John, according to contract, seller is already agreed to give $4000 towards closing. would it be wise/logical to ask for repair cost after inspection ?
Yes, because legit repair costs separate expenses. Why should you inherit big repairs? If you already accounted for these costs, then I can see why you would not push it though. If there are big costs like HVAC, roof repairs, electrical problems that came up in an inspection, then I would definitely negotiate to get something for them.