Repairs & Negotiations in Escrow
In California, there’s always a period of investigation and inspection during escrow; this is common since the buyer wants to know the real condition of the home before they purchase it.
These inspections typically include a full home inspection and termite inspection and depending on the age of the home, the seller may also have the home tested for radon and lead-based paint as well.
Does the Seller Have to Make Repairs to Their Home?
Most sellers are prepared to receive a list of requests from the buyer once the inspections are complete but the BIG question is does the seller have to comply with the requests and make the repairs that the buyer asked for?
The answer to this question is no, especially if the buyers repair requests have nothing to do with improving the safety of the home, and the repairs are not required by state code, but in some cases, it may be in the seller’s best interests to make the repairs that the buyer has requested to their home especially if making those repairs will help their home close faster.
Sellers Should Have Their Homes Inspected Before Listing Them
One of the “keys to success” with selling a home is for the seller to have their home inspected before listing it because this gives them the benefit of comparing their inspection report with the buyer’s inspection report and the seller may possibly be able to get their inspection fee back.
Ultimately, the goal in every Real Estate transaction is for the home to sell and if the seller is unable to make repairs to their home they should consider lowering their asking price so that the buyer can use those savings to make the repairs to the home.
Buyers Should Make Repair Requests Within Reason
Although it’s within the buyer’s rights to request repairs to a home that they want to purchase the reality is that buyers should request repairs “within reason” and not submit a 40-page document to the seller because this could jeopardize the sale of the home.
At Fred Sed Realty, we’re experts at navigating the inspection process including making sure that buyers don’t get excessive and request more repairs than they should following the inspection.
Our Real Estate team also works hard at representing sellers so that they don’t go overboard and make more repairs to the home than they should.
To learn more about repairs during the escrow process, or to view homes for sale in Southern California, contact Fred Sed Realty today by calling us at (800) 921-9231 or connect with us online.