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Started By
Message
re: Home Buying Negotiations between Buyer/Seller
Posted on 3/19/21 at 10:43 am to cajunangelle
Posted on 3/19/21 at 10:43 am to cajunangelle
+1
Plus, realtors suck once you get a contract. They don't care about owner coming out of pocket for roof--realtor's commission only decreases 3% of the roof cost and they rather have a sure sale to protect the rest of their commission.
Also, say no to Seller paying for home warranties. They are worthless and realtor gets an undisclosed commission for selling the warranty.
Plus, realtors suck once you get a contract. They don't care about owner coming out of pocket for roof--realtor's commission only decreases 3% of the roof cost and they rather have a sure sale to protect the rest of their commission.
Also, say no to Seller paying for home warranties. They are worthless and realtor gets an undisclosed commission for selling the warranty.
This post was edited on 3/19/21 at 10:47 am
0
Posted on 3/19/21 at 10:44 am to MMauler
Except unless the next offer has no contingencies they will have the same problem again. When a listing goes from pending to back on the market some buyers may wonder if something is wrong and there is no guarantee they will get another offer at over ask.
Posted on 3/19/21 at 10:44 am to MMauler
quote:
Explain to them that there was another full priced offer the first day they put it up for sale so you'll fix everything for a $15k increase in the price. Otherwise, you'll just relist it for $15K over the price they agreed to pay.
You’d think their realtor mighta mentioned that huh? I told her I’m more concerned about this realtor than what the buyers are asking for
Posted on 3/19/21 at 10:45 am to Schmelly
quote:
But when you have 2 full price offers on day 1, you have some room to say no
The only risk is if you start pushing back on offers, the listing can get stale and buyers will start to suspect there are other issues with the house.
Thinking as a buyer, I'd be most concerned with the roof, depending on the age of it. I wouldn't demand it be replaced, but I'd probably ask for an allowance. But as a seller, it doesn't hurt to call your insurance and see if they'd cover it. Hard to believe their realtor is telling them to fix it all.
Posted on 3/19/21 at 10:45 am to BeerMoney
fix small shite.
offer them a 5k allowance on roof.
they can take or walk.
offer them a 5k allowance on roof.
they can take or walk.
Posted on 3/19/21 at 10:45 am to Cfrobel
quote:
Except unless the next offer has no contingencies they will have the same problem again. When a listing goes from pending to back on the market some buyers may wonder if something is wrong and there is no guarantee they will get another offer at over ask.
Normally. In this market? Things are selling like tickle me Elmo
Posted on 3/19/21 at 10:47 am to Schmelly
What market is this? Totally a seller's market around here and most would tell them to kick rocks. Most post-inspections requests are reasonable, but I'm not putting on a new roof or fixing foundation in this market.
Posted on 3/19/21 at 10:48 am to dakarx
quote:
consider getting an estimate for the roof and offer splitting the cost with the buyer
From my experience with buying/selling 3 properties over the last 2 years, this is the new norm. The buyers agents are now somehow roof experts and are able to spot roof damage on 2 story homes from 100 yards away! Every roof person that looks at a property will tell you that you could use a new roof, because that's their job.
Do as suggested by other posters and fix the small things. The AC vent thing - F OFF!
I'd offered $2500 in price reduction for roof replacement. At that point, it's up to them as they'll probably not even worry about the roof and you've sold the home.
Posted on 3/19/21 at 10:49 am to The Spleen
quote:
Thinking as a buyer, I'd be most concerned with the roof, depending on the age of it. I wouldn't demand it be replaced, but I'd probably ask for an allowance. But as a seller, it doesn't hurt to call your insurance and see if they'd cover it. Hard to believe their realtor is telling them to fix it all.
Same thing I thought. Why’d they go straight to “replace”? I chalked it up to first time buyers. The realtor is sending someone to take a look to see if it needs replacing. I told her if he thinks there’s a job involved “it NEEDS it”. She’s already said she’s not changing it
Posted on 3/19/21 at 10:51 am to Schmelly
quote:made my seller meet code and put in about 10k worth of work on proper ventilation for the water heater and stove and split the electrical panel too.
The vent thing is laughable. House ain’t had a vent for 40 years now it has to have one
it really depends on how desperate you are to sell and move.
Posted on 3/19/21 at 10:55 am to LSUgirl4
quote:
it really depends on how desperate you are to sell and move.
That’s half of it. The other half is the other options you have in your back pocket. Do you people even read or just like sayin “look what I did”
Posted on 3/19/21 at 10:55 am to Schmelly
Maybe. It's always a risk, even in the hottest markets often the first offer often ends up being the best.
Posted on 3/19/21 at 10:56 am to TigerScratch
quote:
I'd offered $2500 in price reduction for roof replacement. At that point, it's up to them as they'll probably not even worry about the roof and you've sold the home.
Just told her to do this, but as a payment towards closing costs. That way the next request gets nipped in the bud at the same time
Posted on 3/19/21 at 10:57 am to Schmelly
quote:
Same thing I thought. Why’d they go straight to “replace”?
Their agent probably told them to. I mean yeah, if I was buying a house in this market and could get the seller to replace the roof just before buying, I'd be ecstatic. But I certainly wouldn't expect it in this market.
I'd just counter and say our deductible is $4000. We'll give you a $4000 allowance for the roof, and fix some of the smaller items.
Posted on 3/19/21 at 10:58 am to Cfrobel
quote:
Maybe. It's always a risk, even in the hottest markets often the first offer often ends up being the best.
They just asked for ~$20k in repairs. That’s not realistic
Posted on 3/19/21 at 10:59 am to The Spleen
quote:
I'd just counter and say our deductible is $4000. We'll give you a $4000 allowance for the roof, and fix some of the smaller items.
$4000 towards closing specifically
Posted on 3/19/21 at 10:59 am to Schmelly
You are correct. If they wanna walk over the hail damage let them. It’s an insane sellers market. Buyers asking for too much will struggle to be taken seriously. Some places ar waiving appraisals and inspections because of this to get a house. If you fix the easy stuff and tell them no on the roof they will probably be ok. Roof inspections are free though so you could get a roofer to give you an inspection and let them know the results. Inspectors are shitty people these days.
Posted on 3/19/21 at 11:00 am to Schmelly
you don't have to be an arse to the buyer or the realtors. Just say "no, thank you." that forces the buyer to accept it with the defects or walk away. if he's getting multiple full price offers on day one, it will sell. the realtor wants her commission for the least amount of work, as would i.
Posted on 3/19/21 at 11:01 am to Schmelly
No, but I am sure they don't expect to get 20k off. It's a negotiation and if they end up not negotiating in good faith then the seller should walk.
Posted on 3/19/21 at 11:02 am to Schmelly
quote:photos?
SIL
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