reasonable concessions to give to a buyer

6 Replies

Our first flip is under contract but now the buyer is coming back with wanting other things done or credits...we pretty much remodeled the whole house including a new roof and a new furnace, new stainless appliances and we priced it slightly below market to move it and we did in 2 days with a multiple offer situation. The buyer wants us to redo the electrical because it is "old", it is fine and passed city inspections and our electrician said it is fine also. Also their is a large tree next to the curb that is lifting up a portion of the sidewalk and her insurance said she needs to fix it in a years time or else they won't insure her so she is asking for that as well as the broken lining in the fireplace be credited. Those are just the bigger things, there is also about 7 smaller things she wants done which we agreed to, we already said no to the electric but still don't have her response. In the meantime this issue with the tree  popped up.So what is reasonable to cover here?

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The fireplace liner should have been repaired, and it seems the tree/sidewalk should be addressed.  As for the rest, no.  You can adjust the price of you like, cancel if they don't agree, and remarket if it was such a quick sale.

It's really about your risk tolerance & demand for the house.

Do you think that if you say no to all and she backs out that you can sell it for the agreed on price quickly? If the answer is yes then say no to all of it. If the answer is no then your going to have to make some concessions.