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When selling one of your biggest assets, your home, you want to maximize the value at every opportunity and this includes re-negotiating after you’ve accepted an offer to sell.

Usually, after an offer has been accepted, the home inspectors would enter the picture and their job is to go through your home to look for any defects, lack of maintenance, or discrepancy issues. (These are just a few) Once the inspections are completed, the buyers will typically review their findings with the appropriate professionals, get bids on the work required to bring the property up to their liking. A lot of times, the buyers will then ask the sellers to make repairs or reduce the purchase, or chip in for some of the buyers closing costs. They can also ask for all three!

So what do you do when a buyer asks you for thousands, sometimes tens of thousands of dollars?

Here are three tips to help you prepare your home for sale and have to deal with inspections and repairs.

1. Pay for pre-inspections. -Since most buyers will be performing their own inspections, it’s good practice to conduct your own.

Pre-inspections will allow you to find out what an inspector might uncover. Then, you have a few different options: 1) Fix anything that could be a concern as well as documenting it to disclose to all interested parties. 2) Don’t fix anything and disclose the inspections to all interested parties so they know what they’ll be dealing with prior to submitting an offer.

2. Don’t hide any problems. – More than likely, any issues will be uncovered during the escrow process.

If there is an issue with the home either have it fixed before hitting the market or disclose it upfront to all interested parties. Remember, we need to disclose everything that we know about the property to the buyers.

3. Pay attention to all of your closing costs. – Buyers typically ask for credits or a price reduction once they have completed their inspections.

Be sure to negotiate hard up front for the best price possible before accepting an offer. Buyers hold the advantage once their offer is accepted and can ask for credits, repairs, or a price reduction but the seller has no leverage to ask for any more money.

If you have any questions about pre-inspections or are thinking of buying or selling a home, please call me at 323-497-2596

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