Consumption and Real Estate
Help with negotiating results of a Home Inspection?!?
Question : Help with negotiating results of a Home Inspection?!?
The “person” buying my home wants $ 12,000 in repairs (largest items: Radon Remediation (we are at a 4.6) $ 3000, a Chimney Liner ($ 3000), and … they are claiming there is POSSIBLE Asbestos inside our ductwork ~ it’s non-visible for $ 3500 (we had a company come out ALREADY and remove Asbestos, for $ 4000, and issue a Clean Air Certificate. They claim there may be more, they missed?!?) Our Attorney is giving us the impression that these items aren’t negotiable (we know the Radon isn’t). We always thought this part of the process WAS negotiable? Any thoughts?!?
o I’m in Princeton, NJ.
o Of course I’m aware of the market … we are already selling for $ 135,000 less than we started.
o 4.6 is not bad, 4.0 is allowed.
o Great idea on having them prove the asbestos (re-test).
o Yes, code now requires a Chimney Liner. Fireplace works great ~ masonry.
o We’ve already spent $ 4000 (to remove asbestos ductwork & furance) ~ they want an ADDITIONAL $ 12,000.
asbestos inspection
Best answer:
Answer by Bubbles
Last house I sold- they ask for 20,000 in repairs and I completely refused. Some agents tell buyers this is a great way to “save” more money. I told them to go blow- and they still bought the house as is.
I would assume the radon is the only thing that HAS to be done and the rest is take it or leave it.
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#2 written by Real Estate Guy 1 year ago
It appears that they want a credit and will do the work themselves (or never do the work).
I would say ok, and then have the work done. These prices are too high.
In regards to the possible asbestos inside the ductwork. YOu have a clean air certificate. Tell them that you want another test, paid by them and if there is a problem, you will resolve the issue.
Credits are just another way to lower the price.
Does code require the chimney liner? Does the fireplace work without it?
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#3 written by Dizzy_Lizzy 1 year ago
I’m not clear if these are code violations or not. Where I live, the buyer can order an optional home inspection where repairs are negotiable. However, the seller is required to have a municipal building code inspection. Any code violations must be repaired at the seller’s expense before the home can be sold. Is something like this the case where you live?
To be honest though, it’s risky to let your buyers walk over $ 3,000 after you’ve already spent $ 9,000 to appease them. I’d spend the other $ 3,000 and get the sale done.
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#4 written by glenn 1 year ago
In Texas the seller has the right to walk away and not sell the house to these buyer’s. So if you are willing to do this then you can negotiate.
If you want this deal to work and not let the transaction die then you may very well need to agree to everything.
I am not aware of any state that forces you to even take care of the radon-What they do is make you disclose this stuff to any future buyer and the buyer requires you to remediate. I don’t think I would buy a house that had a reading that high.
It looks like you have a clean certificate on the asbestos and no evidence that any remains, so disclosing that to any future buyer should not hurt sales. This buyer sounds like they don’t believe that certificate.
With this buyer you may have to agree to everything in order to make this work. Any future buyer may want most of it done. How long would it take to find the next buyer? Balance that against the cost of repairs.
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#5 written by Peggy I 1 year ago
How badly do you want to sell? They obviously know that there is a buyers market right now, and if you are desperate to sell you will go along with their demands. They also know that if you won’t someone else will.
Unfortunate side effect of the housing crisis.
I would give on the first two, and stand my ground on the clean air certificate provided by the Asbestos removal company, perhaps ask them for some assurances for the new buyers. Or ask the new buyer to prove the Certificate is false.
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#6 written by 9 daughters 1 year ago
You’re right. It’s all negotiable. The problem is it’s such a buyer’s market many buyers’ negotiation consists of, My Way or the Highway.
However, once people make an offer they often get emotionally attached to the deal. In other words, even in such a buyer’s market you’ve still got room to negotiate. I’d submit a counter offer agreeing to some repairs but denying others. You can always concede later.
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Of course it is negotiable.
Possible asbestos is crap, they want you to spend money on something that may or may not exist? I would tell my seller to reject that, the buyers would have to prove that this is a problem, and if you have a Clean Air Certificate, it obviously isn’t a problem.
I would check with your local building codes department on the chimney liner, in some areas, existing construction is grandfathered out of compliance with these codes. But if you were building a new house or new fireplace in the house, you would have to install the chimney liner.
The bad thing about buyers in a buyers market is that they tend to want to ask for the moon and stars, thinking that the sellers will have to meet their demands because another buyer might not come along.