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Buyer Objections and Buyer Requested Repairs! Your house is under contract and the buyer inspections have been completed? It’s time for BUYER OBJECTIONS and BUYER REQUESTED REPAIRS! Watch below to find out more.
What happens next when your house is under contract after buyer inspections have been completed? Per the terms of the contract, once inspections are complete, the buyer has some choices to make before the objection deadline. The buyer can choose to accept the property in as is condition, cancel the contract if they don’t like what they found during inspections, or they can ask the seller for repairs. And then negotiate with the seller as to what will actually be repaired, by whom, and at whose expense.
Be aware, if no repair requests or objection is made in writing and received by the listing agent prior to the objection deadline date and time that are specified in the contract, the buyer is accepting the property in as is condition. As we stated in a previous video, the time between the objection deadline and the resolution deadline, the period when the buyer asks for and you consider their inspection related repair requests is the second time during the transaction that you will negotiate with the buyer.
I usually suggest that the seller concentrate on correcting the more critical or safety issues first. Once we have the buyers objections, we will give bids on the items that need repaired. One thing I ask sellers to consider is that once we know about the issues with your home, we are required by law to disclose and potentially repair these issues if your house goes back on the market.
In most cases, it is a good idea to try to work through these issues with the buyer you already have under contract. Now this does not mean that I think you should do everything that is requested by the buyer. In most cases, I will encourage you to at least negotiate through the process.
I recently had a listing that ended up with quite a few issues that were revealed through the buyers inspections. The seller successfully negotiated the buyer’s request for repairs that initially totaled over 15,000 down to 8,200. They were able to keep their transaction together rather than putting their property back on the market and starting over. Of course, I will always do what you want to do when you’re ready to evaluate buyer requested repairs. We wanna set you up for selling success.