When you and the seller have negotiated on the price, the terms and condition of the sale, there is still work to be done. The services of an independent home inspector will be needed to evaluate every section of the home. As soon as the inspection report is completed, it will be used by the buyer and lenders to make sure that the property is in good condition. After the home inspection, you can still re-negotiate your offer. If you do it the proper way, re-negotiation can serve to your advantage. The result of re-negotiating your terms will all depend on your ability to make a good negotiation happen. A good negotiation will create positive result and will ensure that you will only pay for a fair price. It allows you to get a good deal in terms of pricing and the available facilities of the house.
Before starting to re-negotiate, it is important that you compile the results of your home inspection. Knowing the existing defects of the house will allow you to make it a point before the purchase is finalized. If you are thinking of saving money and time, you can perform the home inspection yourself.
The most concern when doing a negotiation is the price. You may discuss this to your real estate agent. Together, you can determine whether the home repairs should be rectified by the home owner or handle the repairs yourself and adjust your purchase offer. A home having several flaws and glitch will let you ask for a price that you think is just worth the value. Assess and compare other properties in nearby locations to help you determine the value of the property.
You can also point out and demand a solution if you find problems with safety issues like violation of local building codes, nonworking circuit breakers, broken floor beams, termite problems, broken pavement, or underground oil tank liability issues. You can help your negotiation with these issues and offer possible solution and remedies that the house will need. Another thing that really works in a negotiation is letting the seller to have a lot of options as it increases your chances for a good negotiation.
Finding items in or outside the house that will need considerable amount of fixing and planning may help you win over the negotiation. A twenty year old roof for example, should need to be replaced by the next owner, or a furnace that is still functioning, but will soon be in need of fixing. These big items are most of the time the most difficult to resolve since sellers do not want to always admit that their old roof needs replacing and their furnace needs fixing. On the other hand, the buyer does not want to live in a new home that will require a lot of money for maintenance. It is important that both parties should resolve their differences by having a reasonable compromise.
A home inspection should be able to provide you the overall appearance of the property and prevent you from buying a home that has a lot of problems that even the seller is not aware. Make sure that you are easy to reach as the seller’s response could come quickly. There are sellers would like to close the deal as quickly as possible.