I am currently negotiating the private purchase of the single-family home we have been renting for the last few years. Seller is and I have a very good and transparent relationship. Seller needs to close within 30 days for tax purposes and we just had the inspection report completed. Couple of fairly sizable repairs needed (driveway needs to be repaired/replaced, retaining wall in the front of the house needs to be rebuilt) -- what is the best way to approach the seller about these repairs? No way they can be completed before closing/settlement so should I just ask for the cash for repairs at the time of settlement?
The driveway should have been obvious to you already, since you live there, and likely the retaining wall. You can try, but kind of hard to negotiate for things “found during the inspection” that were already obvious.
The seller knew about the retaining wall and has already agreed to fix it. The driveway wasn't something I would expect a landlord to do with renters living there but he is well aware of its deterioration. The question is: what is the best method for negotiating the cost of repairs given the short timeline needed for closing?