The Negotiation Process after Home Inspection

Published: 02nd September 2009
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There are many processes that one has to go through in order to get a good negotiation after home inspection. First of all, you should often negotiate after your own interests. You should never quit negotiating until you get what you want. Besides, as a buyer, it is you who will benefit from your investment for a long time. Pay attention to your own nagging interests, what suits you best and what fits your taste. However, when you keep on negotiating, you earn the best deals for your property and leaves you feeling satisfied after a good day's haggling.

Making an offer often entails negotiation. Indeed, you acquire a home at a particular fee for defined terms and conditions which incorporate contingencies that enable you to decline an offer in unexpected circumstances. A seller will read you the property agreement and you can either back out of the contract or not. Do not rush in signing the contract as this will hinder you to make negotiations prior to buying the house. Signing the contract before purchase means you have agreed to the terms and conditions and will not leave any room for possible negotiations.

If you are just being cautious and conscious of how your future property should be, a seller may consent to a home inspection. Either you pick out your own home inspector or the seller has first dibs on the home inspection. After the scheduled home inspection, you are given two to three weeks in approving the report.

It is actually uncommon that a home inspection exposes nothing, even if the property that is being examined is brand new. Despite minor problems such as leaking faucets, home buyers will always find a way to negotiate all over again.

In negotiating, there will always be counteroffers especially if you have asked the seller to make changes and repairs to the property before you buy it. As wearying as it may seem, back and forth negotiations until you get the best deal is all worth it. If the deal seems acceptable enough especially if the seller has agreed to the price adjustment and home repairs, you can already sign with confidence.

If you are still having doubts, you can negotiate over the property's disclosures. See what the seller has to reveal. A smart buyer knows that hard-hitting negotiations do not usually begin until after signing the deal. The next negotiation occurs beyond the disclosures. You should also obtain a list of property flaws as pointed by the seller within days of signing.

You can back out of the transaction if the report has revealed something that does not bode well for you. You can refuse the offer without penalty. Either that or you can some negotiate more. Experienced sellers may be accommodating and will frankly point out the defects to you. They know that once a deficiency has been revealed, they have to deal with it by hook or by crook.

Also, some sellers may get desperate in selling their homes. As a last resort they will agree to your terms about home repairs and lowered prices even if they do not want to. You might as well take advantage of their offers since other sellers are not that lenient when it comes to buyers purchasing their properties.

It is always important not to pressure sellers too much. Insisting on far-fetched demands may result in sellers refusing and may deflate your chances of acquiring the home. Know about negotiation processes and deal your way to a good negotiation after home inspection. If you need help, take a look at Arizona Real Estate Guide and Guide to AZ Real Estate .


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