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Message
re: Home Buying Negotiations between Buyer/Seller
Posted on 3/19/21 at 11:30 am to Schmelly
Posted on 3/19/21 at 11:30 am to Schmelly
I bought a house last October. Got 40k under the original asking price. I still asked for seller to replace roof, have ac looked at and some other minor stuff. They had ac looked at, was good. Took care of a few other small things and basically said get bent on the roof. Never hurts to ask but seller doesn't have to do any of it if they choose, and I wouldn't when it comes to the roof.
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Posted on 3/19/21 at 11:31 am to tigeralum06
Roof will likely cost them their deductible($2500) if there really is hail damage
Spending 2,500 after inspections seems reasonable and not too bad
Spending 2,500 after inspections seems reasonable and not too bad
Posted on 3/19/21 at 11:31 am to Chad504boy
quote:
I'd stick with a 5k allowance and put buyer in the deciding crunch.
That’s the current plan.
Can’t wait til my BIL wakes up and sees that his wife, me and the OT have figured this whole thing out for him LOL
Posted on 3/19/21 at 11:33 am to Schmelly
That's being generous if there's another full price offer on the table first day.
Posted on 3/19/21 at 11:33 am to lsupride87
quote:
Roof will likely cost them their deductible($2500) if there really is hail damage
Spending 2,500 after inspections seems reasonable and not too bad
It’s $4k but I just think she doesn’t want the headache
Posted on 3/19/21 at 11:33 am to Schmelly
Do the small stuff. Pay a roofing contractor to inspect the roof for any leaks or weak spots. If it’s sound, then tell them to kick rocks. If it has weak spots I’d counter off to knock off 5k from sale price for house as is if they threaten to walk away since it’s already 15k over Value anyways.
Posted on 3/19/21 at 11:34 am to LSUBoo
quote:
That's being generous if there's another full price offer on the table first day.
Well, she said $2k. Full price offer was there 2 weeks ago. People may have found something . Idk
Posted on 3/19/21 at 11:34 am to Schmelly
Put the house back on the market. Housing market is hot in most of the country.
Posted on 3/19/21 at 11:34 am to tigeralum06
quote:
Make an insurance claim for the roof.
Insurance claim may have already been made and the seller just pocketed the money instead of replacing the roof. The buyer would be stuck with replacing the roof with money out of his own pocket.
Posted on 3/19/21 at 11:37 am to Ingeniero
quote:
Houses are selling like hot cakes right now. I'd respond with an offer to clean the AC and provide an allowance for the buyer to repair the window. The rest they can get lost with.
This is also true. Nobody is building right now due to material costs. It’s a sellers market if you’re in a decent area
Posted on 3/19/21 at 11:55 am to Schmelly
quote:
1. “hail damage to roof - recommend having roofing contractor evaluate for replacement”
2. No AC vent in master bath
People rag on realtors all day, often deservedly, but the unmentioned scapegoat in a lot of these transactions is the inspectors. Unfortunately they accept a lot of responsibility so they will write up any and everything as a CYA. There are some really good inspectors that find legitimate issues around houses that buyers are unaware of, which is certainly worthwhile.
However, both of these are a CYA and the buyers realtor is just telling them to ask for it to get something back from the deal. If they offered asking price on day 1, the realtor is simply trying to feel worthwhile. Otherwise, why were they necessary?
If you absolutely must, get a roofing company to come look and write up a report saying “the roof is fine” and you’ve satisfied the inspectors requirement. If not, formally respond with “No, current roof condition was a factor of pricing” and they must choose to formally accept/reject.
Posted on 3/19/21 at 11:58 am to Schmelly
Unless the roof is like 15+ years old and is leaking, that’s not reasonable to ask. The other minor shite, sure. But a roof replacement? That could a $10k job. The buyers need to eat that or don’t but.
Posted on 3/19/21 at 11:59 am to gumbeaux
quote:
If I was buying the house I would want the roof replaced and a vent in the master bath before I bought it. Other potential buyers will probably want the same thing.. Lots of other houses on the market if the seller refuses.
Lol. Uhhh no there’s not
Posted on 3/19/21 at 12:00 pm to gumbeaux
quote:
Insurance claim may have already been made and the seller just pocketed the money instead of replacing the roof. The buyer would be stuck with replacing the roof with money out of his own pocket.
Dude, wtf are you talking about. Lol. Just stop
Posted on 3/19/21 at 12:00 pm to Schmelly
I would tell them to take a hike because you'll have two more asking price offers again tomorrow.
Posted on 3/19/21 at 12:02 pm to DeafJam73
quote:
Unless the roof is like 15+ years old and is leaking, that’s not reasonable to ask. The other minor shite, sure. But a roof replacement? That could a $10k job. The buyers need to eat that or don’t but.
10yo and not leaking
Posted on 3/19/21 at 12:02 pm to Cfrobel
quote:
Except unless the next offer has no contingencies they will have the same problem again.
As others have suggested, get the insurance company to pay for and then relist it adding $15k to the asking price with the additional asset of a brand new roof and PROFIT!
This post was edited on 3/19/21 at 12:04 pm
Posted on 3/19/21 at 12:06 pm to gumbeaux
quote:
Lots of other houses on the market if the seller refuses.
Lol, inventory is at record lows. I'd tell them to kick rocks
Posted on 3/19/21 at 12:07 pm to MMauler
quote:
As others have suggested, get the insurance company to pay for and then relist it adding $15k to the asking price with the additional asset of a brand new roof and PROFIT!
They shoulda did this last year when the hailstorm hit. But they didn’t know they’d be selling so soon. Family expanded a little sooner than they planned lol
Posted on 3/19/21 at 12:15 pm to Schmelly
A couple of things are happening here. First, some inspectors want to pass the buck to any other person they can. This is why a roof with any minor issue whatsoever is going to get dinged on a general inspection. The official inspection summary will recommend having a "licensed roofing contractor" take a look. See where this is going?
Now, you have the other issue of knowing about the potential roof problem, as another poster mentioned. This is all on paper now, and the seller is aware. If the buyer or seller walks, it will legally need to be disclosed by the seller, and will potentially scare off future buyers. This is immensely frustrating, but blame our litigious society for this one.
Thirdly, this is technically a seller's market, but not for all homes by a long shot. In addition, buyers are writing aggressive contracts just to "win" a house. Inspections and appraisals are another ball game.
Now, you have the other issue of knowing about the potential roof problem, as another poster mentioned. This is all on paper now, and the seller is aware. If the buyer or seller walks, it will legally need to be disclosed by the seller, and will potentially scare off future buyers. This is immensely frustrating, but blame our litigious society for this one.
Thirdly, this is technically a seller's market, but not for all homes by a long shot. In addition, buyers are writing aggressive contracts just to "win" a house. Inspections and appraisals are another ball game.
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