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Buying & Selling Real Estate

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Lance Adderly
  • New to Real Estate
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Negotiation advice selling rental

Lance Adderly
  • New to Real Estate
Posted Nov 19 2022, 18:35

Hello. Newbie real estate investor looking for any advice to help me decide how to approach this negotiation. Currently trying to close on an out of state sale on a SFH rental with a tenant scheduled to move out at close. Of course after their inspection the buyer has their "fix it" list and its quite long (per my realtor) On my end my PM had an estimate performed on all items listed by the buyer, totaling $6,250. We went back and forth with several proposals and it lead to my most current counter and preference was not perform any repairs and to reduce the price by $5000 and after close a $5000 check is given to the buyer to complete the repairs as they see fit. The buyer accepted and wants the home but did not sign the addendum. They want everything repaired or back out. I'm trying to sell sooner than later and I am considering repairing the work up to $5000 but because Im coming out of pocket Im worried the buyer could back out of the deal or any other requests. Anything is possible but has anyone been thru similar negotiations and is somewhat the norm to hear? Any examples to share?

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