Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
How did you amend your offer after home inspection?
Did you request the seller to make fixes? What sorts of things did you ask them to fix?
Did you amend your original offer? By how much (percentage-wise)?
Or both?
And did the sellers counter? How did it all turn out?
Re: How did you amend your offer after home inspection?
Our situation was a little unique in that during the inspection period both the wife AND their realtor went AWOL so we ended up having to rescind our offer. (The sellers are divorced) Anyway, that really upset us so we made them a lowball offer $25k less than our original offer for as is condition. Our original offer was already $45k less than their asking price. We ended up with $15k less for as is condition. We didn't trust them at that point to have the repairs done properly.
For the house we are selling they wanted $10k less after the inspection, but I think we are paying $4k of their closing costs and lowering the price by $6k. (or vice versa)
ETA: Things in our original addendum: repair 4 minor roof leaks, replace entire sewer line, replace a small section of waste pipe from disposal, etc...
They asked for $ off for the roof to be replaced (long overdue) and to fix the walls in our main floor bathroom. (Bad DIY job by previous owners)
Ditto PP. With our realtor's help, we picked the top items we wanted the seller to take care of: getting the HVAC system cleaned & inspected (the inspector noted it was dirty and old; if it was inspected, it might be covered under our home warranty should it fail the first year of our purchase, so this was a biggie); getting some old termite damage treated (not an active infestation) and a termite warranty for the whole house; replacing 9 windows with broken seals (this is a very minor issue and doesn't have any impact like air escaping into the house -- still, they'll need to be replaced at some point, and our buyer's agent thought it was worth asking for.)
The seller countered with getting the HVAC system cleaned & inspected, getting the termite damage treated & termite warranty -- no windows. We agreed. No amendment to our offer.
On his own, our seller fixed a couple of the teeny tiny issues that were found in the inspection report (a door that wasn't latching correctly, a broken sprinkler). Bonus fixes!
We asked for them to connect to town sewer (part of our original offer), have the furnace and HVAC serviced, fix a hole in the garage, get a new water heater and fix a broken window and a few other smaller things, but that were necessary for us to pay the initial price we offered.
So we kept the price the same because they agreed to fix all of those items. We don't close until June, so hopefully all the work will get done.
71 workouts completed in 2012
During our inspection they found that the septic wasn't draining properly. The owner had a specialist come out and the septic needed to be completely replaced. They decided to replace it....it was a 12k repair. There were also a couple of other issues that they fixed.
We signed a repair add. stating what they were fixing. We didn't change our offer price since they were fixing what we needed to fix. If they didn't fix the septic, we would've walked.
When we bought our house, we asked for a handful of small things. They were minor, so I only remember requesting that the furnace be cleaned and certified. We didn't negotiate the price...they offered a $400 credit, which we accepted.
We're selling the house, and the buyers requested that we clean and certify the furnace, and fix a fan that wasn't working. Total was just over $200. We took care of both, and there were no adjustments to the price.
Edited by moderator.