Anyone here who has purchased a home: I got the home inspector's report back and want to negotiate with the seller on fixing critical electrical and plumbing issues. How has this process gone in your own personal experiences? (Please boost)

@vanicpanic I've been on both sides of this. In both cases the outcome was a reduction in the selling price commensurate with the expected cost of performing the needed repairs.

@vanicpanic you might want to get an estimate on your side of the cost of work, then you can submit an offer which cites that and asks for either the work to be done by the seller, or reduces the price in return for your accepting the house as is.

@rafial So, I have submitted my initial offer, which was accepted by the seller. Then I had the home inspector come in. I want to renegotiate the offer (ask them to make the repairs would be preferable), and also to renegotiate the closing date (my asshole realtor pushed for a closing date of June 1, which I went along with because I didnt know better).

@rafial How would I go about proceeding? Getting a couple of contractors lined up to do estimates and then going back to my realtor with "hey, I want these three contractors to give me estimates and I want to push the closing date back"?

@vanicpanic yeah, that's pretty much it - presumably your offer had "contingent on inspection" language, so now you are exercising your contingency. Is the realtor you are talking about acting as the buyer's agent, or are they the sellers? I'm sorry to hear you are having trouble with them, a good buyer's agent smooths the process considerably.

@vanicpanic if you are in a situation where you can talk to the seller more informally, you could start with "here are the repairs I would like to see" and see if they are amenable to that. But even so, you'll need to amend or resubmit the offer stating the repairs to be made so you have a legal framework if you discover after the fact that the repairs were not carried out.

@vanicpanic from my own perspective, sellers are usually motivated to close, so accepting a lower price in exchange for the buyer handling repairs is more common, but every house sale is unique, so it's worth having that discussion.

@vanicpanic Also, you don't necessarily need three estimates initially, the goal isn't to find the contractor who you'll ultimately hire, it's just to come up with a defensible number that can be attached to the value of what is being negotiated over.

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