Here’s how sellers should handle requests for repairs from their buyers.
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As a seller, there are many little negotiations to go through once you’ve received an offer. One of the most stressful for many sellers is dealing with buyer’s requests for repairs. Today I’m sharing a few strategies that will make these negotiations a bit less stressful and more productive.
Once you go under contract, the buyer has 10 days to get an inspection and request repairs to the home. (Though this won’t be an issue if your buyer has waived inspections.) The document is called the Buyer’s Requests for Repairs and typically contains descriptions from the buyer’s inspection report to help you understand what they’re asking for. To most sellers, this feels like a long list; you may receive 25 requests.
I advise you to break down the list, ensure you understand what they’re asking for, and have your real estate agent ask for any needed clarifications. One item on the list could sound like a complicated electrical issue when the buyer just wants an electrician to take a look at the electrical box and ensure all is well.
Once you go under contract, the buyer has 10 days to get an inspection and request repairs.
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Next, you’ll decide which repairs you’ll do. One mistake many sellers make is simply starting in on making a bunch of repairs when instead, this period should be about deciding what you’re going to do. It gets very confusing for everyone involved if you panic and start calling a slew of vendors to fix things.
You have to respond to the buyer; don’t let them feel ignored. Communication is crucial! Again, I caution you not to start in on these repairs yet. Your next step should be to compose a buyer’s addendum, which is just a document stating what you plan to have fixed, checked, etc.
I hope all your repair negotiations turn out well and you go from contract to close with as little stress as possible. Keep your cool, and follow the process.
If there’s anything we can do to help you or you have questions about repairs for requests, call or email us. We would love to speak with you.