Many homes in eastern North Carolina were damaged by last year’s storms, so it’s more important than ever to have a plan in place when dealing with inspection reports and repairs. Inspectors can be incredibly specific when making their reports, and buyers sometimes ask the seller to take care of every last item—no matter how unreasonable they are.
Asking this of the seller leads to a lot of negotiation, as the list then has to be gone over point by point. Once the buyer has made a decision of what they want repaired, they then choose how they want to address them.
What’s the best way to do so? Instead of creating a big hassle by demanding the seller to pay for everything, buyers should simply ask for a seller credit to cover the repairs. Then, they can contract the work they want to be done.
When a lender requires that major repairs be completed before closing, the seller is usually responsible—they’re still the owners, after all. They need to find competent professionals for repairs, make sure receipts are saved, and ensure any applicable warranties will transfer to the buyer.
Throughout the process, there must be clear communication between agents and clients along with signed agreements provided to all parties. We’d be more than happy to help you throughout the process of negotiating repairs and handling paperwork.
Feel free to reach out us if you would like our assistance, have any questions, or need more information. We look forward to hearing from you soon.