Let the Games Begin

Just Bling · ‎03-10-2010

Accepted offer on the house and now, they have "a list" of everything they want fixed and they are bringing in their own contractors to get an evaluation of what needs to be done and how much.

So what's the magic number for all of this to go away and let them think they won?

dex · ‎03-09-2010

You have to decide what you will accept and what you won't.We went through that same thing and we just agreed to a few of their demands snd refused on others.They are just hopeful that you will accept all but it is up to you.How much interest did you have in the house and how much does it mean to you to wrap this sale up quickly...did you get a good price with room to go ahead and do some of the repairs or do you want to wait it out..it's all a gambling game in some ways.

Ms X · ‎09-13-2012

I'm no expert, but I'd rather subtract $$$ off the price than do work. That way, you sell the house and they're responsible for making sure the job is done right.

GCR18 · ‎07-03-2013

I went through that when I sold my parents condo. We knew there were a number of condos in the complex for sale, knew it needed work and knew how much we paid a month to let it sit empty. I took $3k off the price. The buyer was happy as a clam.

I wouldn't fix anything. I think I'd offer what was reasonable. Like do you agree with everything they say is wrong and are you willing to let them walk. You could meet them in the middle too.

sandraskates · ‎06-26-2014

@Just Bling - that's pretty normal in a real estate selling transaction.

You can either fix it all, fix some of it, fix none of it and not give any discount (they may walk away)

OR fix none of it an knock some $ off the price.

Although you make less on the sale if you knock down the price, you're also not out of pocket for any repairs and the buyer's tax bill will be lower, which is attractive to some buyers.

See what they want first and how much it will cost.Your agent should help you through the repair negotiation process.

Good progress and I'm happy for you!!

(And I wouldn't look at this process as win / lose).

Mz iMac · ‎07-26-2014

To avoid "the list," why don't home sellers sell their house "as is?"

I wouldn't fix anything either.

"Never argue with a fool. Onlookers may not be able to tell the difference."

klajfakj · ‎07-11-2010

Was the list presented at the time of accepting the offer? If not, I don't think you are obligated to honor it. I guess it all depends on how badly you want to sell and how expensive the repairs are. Also, why allow a contractor (their contractor) AFTER the acceptance? All this should have been done before not after.

When we sold my mothers house, we had an open house where peope could walk thru and see exactly what they were getting. Her house was old and needed electrical updates and plumbing updates. It was an OLD house but the location was highly sought after. We settled on a price with someone where all was discussed before accepting an offer all parties were pleased with. Bottom line, YOU must know the price YOU will be satisfied with and weigh it with how badly you want to sell.

Sooner · ‎03-10-2010

One thing to remember here: most real-estate contracts are easily broken by the buyer and there are LOTS of ways to get back their earnest money as well.

You need to take it on a case-by-case basis and determine what it worth to you to sell the property. Sometimes you have to eat your pride or eat what you are selling. It's up to you. The best thing is to not be emotional about it. It is business. It's about the numbers.

jackthebear · ‎03-11-2010

@Just Bling wrote:
Accepted offer on the house and now, they have "a list" of everything they want fixed and they are bringing in their own contractors to get an evaluation of what needs to be done and how much.

So what's the magic number for all of this to go away and let them think they won?

No idea, but did you get an inspection and have your agent negotiate this one,

too much drama for me

KingstonsMom · ‎03-09-2010

@klajfakj wrote:
Was the list presented at the time of accepting the offer? If not, I don't think you are obligated to honor it. I guess it all depends on how badly you want to sell and how expensive the repairs are. Also, why allow a contractor (their contractor) AFTER the acceptance? All this should have been done before not after.
When we sold my mothers house, we had an open house where peope could walk thru and see exactly what they were getting. Her house was old and needed electrical updates and plumbing updates. It was an OLD house but the location was highly sought after. We settled on a price with someone where all was discussed before accepting an offer all parties were pleased with. Bottom line, YOU must know the price YOU will be satisfied with and weigh it with how badly you want to sell.

After many years of working for our Assoc. of Realtors, I agree that any 'punch list' for repairs/updates should have been negotiated when the offer/contract was presented.

If repairs/updates were not a condition of this offer/contract, then the sale is presumably 'as is' and you have no contractual obligation to repair/replace anything.

You never know how strong you are until being strong is the only choice you have.