I entered into a contract to sell my house a couple of weeks ago. Because the market is slow, I ended up taking a lot less for my house than I was planning on. Now the buyers have had inspections, and they want me to credit them $3500 for repairs, most of which are complete B.S. I am really mad about this. Should I tell them to take a hike? Fred W.
Fred, take a deep breath and relax. In some ways this market can be called “Revenge of the Buyers”. Remember 4 or 5 years ago when Sellers told buyers things like “take it or leave it” or “don’t ask for anything to be fixed… we have 2 other buyers who want it”. Now the tables have turned. Don’t get hung up on the details of what the buyer wants. Some may be legit, and some might be categorized as outright extortion. But so what. If you want to sell you house, swallow hard and sign it. If you think you can do better in this market, tell them no. It is really that simple.
But tread carefully, because working with buyers today is a little like trying to feed a squirrel. They don’t really trust you, they are skittish, and any sudden movement or sign of trouble they go scampering for the woods. If you refuse the $3500, it could end up costing you $5000, $10,000, or even $20,000 more to get the next buyer in contract. It’s your call.
If you have a question, email it to me at Doug@680Homes.com and I will be glad to answer it.