Buyers' Agent........Grind Sirloin Not Our Seller!!!

By
Managing Real Estate Broker with RE/MAX Executive Realty

 

home inspectionWhat are the challenges that surface after most home inspections are done on a pending listing?  There is rarely a perfect home.  Perfection and construction are not two words that can be used in the same sentence.  There are too many adversarial factors involved such as changing seasons with the use of dimensional lumber!!! 

After that home inspection is complete and a laundry list is submitted with a chunk of change to be credited to the buyer or taken off the previously agreed upon price, what’s the next step?  Our next move is to review the list and apply a realistic cost of repair.  Some of the items must be repaired whether this buyer purchases the home or another buyer because of safety issues.  Those items will be remedied at the sellers’ expense by a licensed professional.  We always recommend that our sellers take care of electrical issues, for safety purposes.

The best part of having a home inspection with the buyers’ dime is that now we can go through the property and repair all minor items.  If there is a major repair, we disclose it from this day forth.  “When one train leaves, there’s always another one right behind it” and that’s the message to the buyers’ agent who uses the home inspection as a renegotiating tool to grind the seller for a better price.  We never fall victim to that ploy!! 

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negotiating after home inpection

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Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Hi Ginny....they will do that....we find that very rarely do we lose a deal because of a home inspection....and very rarely does the price change!!

July 16, 2011 02:11 PM
Ambassador
1,276,635
Loreena Yeo
Realtor® | Frisco TX Community Ambassador
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.

I've gone through once where the buyer requested the most bizarre things and threathening to pull out if the seller doesnt comply. It got my sellers mad enough to feel like they've been held hostage. Even after the seller complied to some craziness, buyer decided to pull out. They were never serious to begin with. Thank God we got another offer 1 week later. A good home is a good home. Buyers always recognize it.

July 16, 2011 02:37 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Loreena....some buyers are out there to find a good home and then hammer until they get the number they want....if the seller complies, it's because the seller is desperate and it becomes obvious....if the seller says no and kills the deal, the buyer will usually agree if the home is a good home....have to learn to say no....

July 16, 2011 03:46 PM
Rainmaker
50,548
Jonathan Dalton
Realty ONE Group

One of the nice things about the contract in Arizona is it doesn't allow for such things. Buyers can ask for repairs, take the house as is or cancel. Not to say repair allowances don't happen but the vast majority that I have seen have been offered by the seller, not demanded by the buyer.

July 16, 2011 04:08 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Jonathan.....that's a good thing....in our area, we can almost expect that with every home inspection the buyer will be looking for something....they'll at least try to get something....

July 16, 2011 04:13 PM
Ambassador
736,324
Jerry Newman
Texas REALTOR, San Antonio Military Relocation
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com

Hi Barbara, Safety and Health issues should always be everyone's concerns. I can't believe those Buyer's agent that try to ask for more than that, just to get more out of the sellers. I just recently negotiated  for repairs for an electrical box from the sellers, and it wasn't that much to ask, since it was a major concern.

July 16, 2011 04:18 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Jerry....we've had buyers' agents who ask for thousands of dollars for an adjustment to the sale price for minor issues....not all are that bad, but some are....

July 16, 2011 04:20 PM
Rainmaker
997,506
Karen Fiddler, Broker/Realtor
Laguna Beach & Lake Arrowhead, CA (949)510-2395
HOM Sotheby's Intl Realty, 949-510-2395

Everything can be taken to extremes, but when I'm the buyer's agent...I'm going to push for as much as I feel is needed for my buyers. Glad I don't work in your area though....you're tough.

July 16, 2011 04:23 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Karen.....needed and not needed are two different things.....our job is to protect the seller from the vultures and we do a good job of that.......our listings have plenty of activity and there's no reason to give in to every whim.....I'm soft!!! my team members are tough!!! 

July 16, 2011 04:30 PM
Rainmaker
501,530
Christine Smith
Exclusive Buyer Agent & Attorney, Canton, MA
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com

I always tell my buyers...there is no such thing as a perfect house.  Structural issues, water, major items that were not noticeable when we looked at the house.  If we saw them when we looked, it would have been reflected in the offer price anyway. 

July 16, 2011 05:29 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Christine.....you need to learn the Franklin area....we have most of the listings in this town.....this may be a breath of fresh air....

July 16, 2011 05:46 PM
Ambassador
1,453,413
Michael Thornton
Home Inspector - Nashville, TN area - 615.661.0297
Complete Home Inspections, Inc.

Barbara, you are right. There are no perfect houses on this plane of existence. I tell folks, houses were built by men, and we all know, men are not perfect...

July 16, 2011 08:27 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Michael....every house has flaws....even multi million dollar homes....there's not an inpector anywhere who could not find a flaw in every home....

July 16, 2011 08:31 PM
Rainmaker
80,504
Virginia Dean
Keller Williams Realty

Great post Barbara, I suggested it.

You offered a very good explanation of what should and should not be asked for after an inspection.

Thanks for your expertise.

By the way, I added you to my teachers and mentors circle on Google+

July 16, 2011 08:50 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Hi Virginia.....I just can't bring myself to do another "facebook" type thing....google+ is not on my list....but realbird was a great addition.....I hope you're using that....and thanks for the suggest.

July 16, 2011 08:53 PM
Rainmaker
80,504
Virginia Dean
Keller Williams Realty

Barbara, joined realbird but need to figure out how to use it for the team listings...too much to read, too little time.

thanks for your response

 

July 16, 2011 10:53 PM
Rainmaker
714,035
Jackie Connelly-Fornuff
Century 21 AA Lindenhurst NY
Long Island NY Real Estate Agent

Hi Barbara, I always tell my buyers to be realistic. Have the seller repair things that are safety issues and be reasonable about it.

July 16, 2011 11:50 PM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Virginia...there's a webinar every monday.....they show you the basics and it's great.

Jackie....that's the way to do it....

July 17, 2011 01:03 AM
Rainmaker
591,494
Laura Giannotta
Your Realtor Down the Shore!
Keller Williams Realty - Atlantic Shore

I love viewing listings that have already been inspected!  I also urge sellers to get an inspection...even if they don't repair items on the inspectors list, we have a general idea what to expect. 

July 17, 2011 05:53 AM
Rainmaker
1,930,976
Barbara Todaro
"New Franklin MA Homes"
RE/MAX Executive Realty

Laura....I can understand that....sometimes the entire report is in hand and can be shared....

July 17, 2011 06:21 AM
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Rainmaker
1,930,976

Barbara Todaro

"New Franklin MA Homes"
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