Real Estate Agent · Kansas City, MO · Member since 2018 · 262 posts · 250 votes
I am in the process of purchasing my first home. The sellers have agreed to pay a majority of the closing costs and to fix some vinyl siding that needed to be repaired.
After having the inspection done, a mold spot was found in the ceiling in the garage - there is a bathroom located above it. The inspector believes it may be a leak from the bathroom. He is returning tmrw to do a more specific inspection of the area.
If there is an additional repair costs for a leak or if there needs to be mold removed - how do I get the sellers to pay for the costs? The house is under contract and closing is in two weeks.
I am not RE agent but I believe the seller can credit you some money to help mediate the issue.
For me, I never ask the seller to fix anything for me because their incentive is to keep as much money to themselves as possible. So sometimes they pick the cheapest materials or cheap contractors to put lipstick on a pig. If I ask for a credit, I can at least get the money and use people I know and trust to do a good job.
I am not RE agent but I believe the seller can credit you some money to help mediate the issue.
For me, I never ask the seller to fix anything for me because their incentive is to keep as much money to themselves as possible. So sometimes they pick the cheapest materials or cheap contractors to put lipstick on a pig. If I ask for a credit, I can at least get the money and use people I know and trust to do a good job.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
7y
Make sure you’re willing to lose the deal over this. The second you come back with an addendum saying your deal is modified so that the seller should pay for this or or that, they have the option of saying no thanks, I’m going with this other offer. As long as your paying market or above you should be able to get them to pay something if it wasn’t obvious when you first walked through it. Just don’t say you’re getting a smoking hot deal and need this $300 from the seller
Ps. This is the reason You should always put in backup offers on properties listed at good prices. I can’t count how many deals I’ve gotten where the original buyer asked for something like carpet cleaning or driveway oil stain removal on a house.
PPs. 14 days out and you’re still in your inspection period? Wow that’s tight.
Investor · San Diego, CA · Member since 2016 · 265 posts · 305 votes
7y
Steven May
Are you using a buyer’s agent or working with the listing agent direct?
This may play a factor in the strategy on how to handle this situation.
It doesn’t seem like there would be reasonable time for the seller to make a proper repair before closing, so best approach would be to request a seller credit. Some home inspectors are able to suggest a fair repair estimate to support the credit request.
Did you order an appraisal? If you are already buying under market value, the cost of repair may be worth taking on to secure the deal.
Realtor · San Jose, CA · Member since 2018 · 184 posts · 71 votes
7y
Do you still have your property contingency in place? If so, you are in a good position to negotiate the costs associated with the findings from the inspection report. Send the information to the seller, along with a bid for repair, if possible. Ask the seller's if they would issue a credit back through escrow upon closing. OR you can re-negotiate the purchase price, by creating an addendum with the new PP and stating exactly why both sides came into agreement with the new PP. This is all if you still have your property contingency in place. If you removed your property contingency, then you are pretty much out of luck. I've represented buyers on deals where we asked for credit back on repairs needed and the sellers agreed to pay a credit back at closing. Don't be afraid to negotiate, at the end of the day, you are the one buying the house, you need to feel comfortable and confident with your big purchase. Good luck!
I am in the process of purchasing my first home. The sellers have agreed to pay a majority of the closing costs and to fix some vinyl siding that needed to be repaired.
After having the inspection done, a mold spot was found in the ceiling in the garage - there is a bathroom located above it. The inspector believes it may be a leak from the bathroom. He is returning tmrw to do a more specific inspection of the area.
If there is an additional repair costs for a leak or if there needs to be mold removed - how do I get the sellers to pay for the costs? The house is under contract and closing is in two weeks.
Realtor · San Jose, CA · Member since 2018 · 184 posts · 71 votes
7y
Do you still have your property contingency in place? If so, you are in a good position to negotiate the costs associated with the findings from the inspection report. Send the information to the seller, along with a bid for repair, if possible. Ask the seller's if they would issue a credit back through escrow upon closing. OR you can re-negotiate the purchase price, by creating an addendum with the new PP and stating exactly why both sides came into agreement with the new PP. This is all if you still have your property contingency in place. If you removed your property contingency, then you are pretty much out of luck. I've represented buyers on deals where we asked for credit back on repairs needed and the sellers agreed to pay a credit back at closing. Don't be afraid to negotiate, at the end of the day, you are the one buying the house, you need to feel comfortable and confident with your big purchase. Good luck!
Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
7y
@Steven May This sounds like as minor plumbing issue. They will probably just take care of fixing the leak and clean up the what sounds like small mold issues.
If they feel they have bent enough with paying most of your closing costs and for the siding you have to decide if losing the house is worth what is likely a sub $300 repair.