Negotiating Repairs After a Home Inspection:

FAQ,  Writing the  Addenda: Where Can I find a blank addendum?  Should the buyer share the inspection report?

FAQ: 

1. Every situation is different.  The buyer or seller may split some, or all, of the repairs that appear on the inspection report . Other times, the buyer be solely responsible or the seller will be responsible . When reviewing the inspection report determine which items you would prefer the seller to repair. As a buyer, always try to come to the seller from a kind and courteous place. Your realtor will handle your negotiations for you and should also assist you in determining which repairs have a reasonable expectation of being handled by the seller and which will be your responsibility .
2. Maintaining a home is part of home ownership. Every homeowner has a different ideas and abilities regarding what that means, but no home is perfect.  Break your repair list down: are they common maintenance items? Are they major defects that will be expensive to repair? Were they issues that could have been seen by the naked eye and therefore argued that they should have been part of your original offer? Will they prevent you from obtaining insurance and or financing for the property?
3. Get quotes to understand the cost of needed or desired repairs.
4. Understand, that with the as is contract and during the inspection period, the buyer is able to exercise the home inspection contingency and cancel the contract at their sole discretion. Buyer is entitled to receive their escrow deposit back . Intern, the seller is not obligated to make any repairs at all. None.
5. At Dalton Wade, we always recommend seeking a credit for repairs instead of repairs. This is because the expectations of the buyer and the sellers are very likely different . This way there is no confusion as to the expectations in terms of the repair.
6. Understand that all parties will approach repair requests from their own perspective. Try to understand those perspectives. the seller may have had no idea that some of these issues existed until your home inspection . They may also be strapped for funds and already feeling resentment regarding price negotiations. Be gentle.

Writing the  Addenda:

1. If you do negotiate repairs, it is not recommended that you share this addendum with the lender unless you want their oversight. They will require additional inspections and their oversight could definitely cause problems with obtaining loan approval in a timely fashion. when writing in a pair addendum do stipulate that the repairs will be done by a licensed professional with proof of receipt.
2. A credit addendum will be simple.  The seller will provide a credit, in the amount of $--- to the buyer towards closing costs, prepaids and allowables due at closing. Speak with lender if there is already a credit and you fear that credit amount will be above what id acceptable to the lender.
3. You can use a blank addendum. 
4. If your buyer decides to exercise their right to cancel based on the inspection contingency section of the contract , then you will send over a release and cancellation and notify the seller in writing that “the buyer is exercising their right to cancel, per the inspection contingency in section 12 of the contract and canceling the contract”.
5. Always know your dates. Your inspection contingency date is an important one. 

Where Can I find a blank addendum?

1. Go to you Mid transaction docs folder
2. Then add document (the right of the folder name)
3. Then templates
4. Then Common addenda orFL Interactive Forms
5. Form is named;  Addendum to Contract (FAR ACSP-4)

Should the buyer share the inspection report?

              Ultimately, that decision is up to the buyer. They paid for the inspection report. It is recommended that you share any section of the report that is applicable to specific repairs or credits that you are requesting. If you do share the report it is recommended that the seller agrees, in writing that the report will remain confidential and not be shared with out the buyers written consent.

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