Buyer selecting paint colors

[Justin Silverio]

I have a buyer interested in purchasing one of my rehabs that is about 85% complete. She was asking if should could pick out the paint colors since the paint hasn't been started. I don't have a problem with with this but at the same time I don't want to risk painting to her particular taste and then having to repaint if she can't close.

How do you guys/gals mitigate this risk? One option that I can think of is to hold off on painting until her inspection/financing contingency has been met.

[Joel Owens]

Figure out the cost of painting her colors and then having to repaint over them if she can't close. Darker colors if she wants might be multiple repaint to cover or primer and paint. You need to figure in labor costs as well. Then require this amount as a non-refundable deposit in case she cannot close.

Give her a short time on inspection contingency and then have the non-refundable money provision kick in when you go to paint. She or her attorney does not hold the money. Either you, your attorney, or a neutral title company holds so you do not have to fight for the money.

I am sure others have better ideas than me but this is just what popped up when I thought about it.