Vail Daily column: What needs to be fixed by seller?
My husband’s perfectionism is driving me crazy! We are buying a property that is not new, and he thinks the seller should make it like it is new again. We have just had someone inspect the property and now my husband is telling our Realtor to write up every single thing the inspector noted, and more.
I think the home is fine, and we have it at a good price. Now, I am afraid we will lose it because the seller will get angry and tell us to move on. What do you suggest?
You have a truly difficult situation. Inspectors write up everything that is not perfect — but not with the intention that a seller will indeed make all the cosmetic changes. After all, you saw most of the imperfections when you made an offer and then agreed upon a sales price. If there are health and safety issues that were discovered, then the situation should be handled accordingly.
You need to ask your husband if what he wants to write up as objections are really worth losing the property over. There may be a back-up offer or another interested party waiting to see if your deal does not go through.
Possibly, you and your Realtor can establish a position of compromise in which your husband prioritizes the items to be fixed instead of asking for the small items easily and independently fixed.
Also, bear in mind, the seller will probably not agree to everything you ask for, even on an abbreviated list. Presuming you finally have agreement on how you will resolve the inspection objection list you send, your Realtor will advise you that you need to discuss details with your lender and how to proceed from there, if you have a loan.
Method of Resolution
Your Realtor will instruct you to ask your lender whether the method of resolution you have chosen will have a detrimental impact on your ability to receive the loan you desire and if it will cause any delays in the lender’s processing and funding of the loan. How the resolution is handled could also necessitate calling for a more extensive inspection process at your expense.
These inspection objection and inspection resolution processes need to be handled by competent lenders and Realtors so that there are no unintended consequences. Just make sure you have the whole procedure explained before making any quick decisions.
A knowledgeable, trusted Realtor will be able to help you through this process seamlessly because we Realtors encounter similar situations on a regular basis.
I hope your husband will proceed by gathering all of the facts and consulting all of the relevant parties. Best of luck to you!
Joan Harned is an owner and broker for Keller Williams Mountain Properties and heads up Team Black Bear, her own real estate team. Harned has been selling real estate in Eagle County for 27 years, is a past chairman of the Vail Board of Realtors, a past Realtor of the Year, a past director on the Great Outdoors Colorado Board and a member of the Luxury and Land Institutes. Contact Harned with your real estate questions at Joan@TeamBlackBear.com, 970-337-7777 or http://www.SkiAndTeeHomes.com.