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negotiations for home repairs

May 11th, 2015 at 08:59 am

We are in the process of negotiation home repairs that came up during the home inspection. We already had a structural engineer come out and give us a report. Repair option #1 is $5-10k with $1500 engineering work. This is recommended repair and option #2 is $20k including the engineering and only recommended in 5-10 years if there is movement of the crack after repair #1. If we choose to do repair #2 then repair #1 is not necessary. We are responsible for 40% of any repairs as per our association.

Buyers asked for repair #2 started immediately. Our initial response was we will give you $10k to do the repairs. Our realtor said that wouldn't fly they don't want cash (we offered $15k) they want us to deal with the problem. We didn't want to hassle with a construction project and negotiating with the neighbors and just all things that happen during construction.

But that being said to not lose them we then offered repairing the crack at option #1 because that's what our association (2 other owners) agreed it. Yes it's less money our portion would be $5k instead of the $15k we offered them. But I'm about to have a headache embarking on chasing the engineer, bidding out the work, supervising the work, and packing/moving, and trying to close. If they had taken our cash offer I would have been extremely happy.

So now we are waiting. Waiting to see if this offer is acceptable to them. They may still demand repairs and option #2. In which case we have to decide what to do. We don't want to lose them because we can't start the process over again. But at the same time our neighbors are correct in not wanting to pay for more than $10k repairs which is the suggested repair and not jumping the gun to the $20k repairs which he said are unnecessary and not typical. $10k repairs are expected and typical. And $10k is high end.

We should hear back by the end of close today. Cross your fingers, I never knew selling my house would be so hard. I knew we'd have to pay but I never expected I might be running a construction project to sell my house.

Further thoughts are that my realtor said it does make our association look not penny pinching and proactive by agreeing to do this work and doing it quickly. But who knows if the buyers even want to work with us.

3 Responses to “negotiations for home repairs”

  1. creditcardfree Says:

    I hope they want to work with you. Buyers like to have things ready to move in unfortunately. I have a construction issue on our hands too. I'll write about all of it after its done. Inspection is finally tomorrow...so the issue and how to deal with it should be decided soon after.

  2. HouseHopeful Says:

    Good Luck! It could go either way - people moving in don't want to start with a problem, but that solution could be one they feel addresses that issue. Hope it all works out!

  3. Ima saver Says:

    fingers crossed!

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