Any Suggestions of How to use inspection report

[Abdessettar Ibourki]

Hello All,

I am waiting for my first 4 unit inspection report, but want to be prepared to either drop the property buying price down or instead do the found repairs.

Can you guys shed some lights on the some ways to approach this task?

Thanks.

[Marc Winter]

Quick answer:  it depends.  In negotiating, the one who wants it the most, looses.  Do you want to buy the property more than the seller wants to sell?

Many people use an inspection report to get price reductions to compensate for necessary (either in reality or in buyer's mind) repairs.  It becomes a negotiation, so govern yourself accordingly.

One caveat:  NEVER have the seller do the repairs.  If necessary, as in for larger-ticket items, get "a couple two-tree" contractor written estimates and get your price reduction.