How to Negotiate Repairs After the Home Inspection | Unique Perspective for Buyers, Sellers & Agents

This is going to be a very different type of video. I'm going to provide the perspective of each party in the inspection negotiations in a real estate transaction: Buyer, Seller Real Estate Agent First Time Home Buyer: a person who has previously lived as a tenant or possibly even living at home with their parents. They are used to having someone else do all of the work for them. Possibly a second time homebuyer Luxury Home Buyer: not necessarily the price, it's more about how many times you have traded real estate. They understand what's important as a homeowner, buyer, seller, landlord and tenant because they have most likely been in all positions. Seller Mentality: I have lived in this house with this issue so what's the problem? The seller doesn't want to put money into the house when they are accustom to the issue. Real Estate Agents: Don't be the slimy person with dollar signs in your eyeballs pushing the transaction forward even though it's not in your clients best interest. The only way for a real estate agent to relate to their client during the inspection period is if they have been in the situation themselves. I highly recommend having an experience as a buyer of a property so you can put yourself in your client's shoes and understand what they are experiencing as a buyer. Did you know that the real estate contract is AS-IS? This means the seller does not have to do anything for the buyer in order to sell. Most realtors don't tell their clients that the contract is as is which is what results in a high standards of fixes and the buyer cancels. Realtors should also encourage their sellers to have an inspection. This will help the seller understand. First Time Buyer wants a perfect resale house. Luxury Buyer understands that the house is used and has been lived in. Due to the experience of buying and seller. For any buyer, do not ask for everything on the list to be fixed/corrected. How I do it: The buyer needs to review the inspection report and write down what it's important to them. I will do the same. We come together and discuss what's important to the buyer and move from there. Agents, you should absolutely 100% get your own quotes so you have something to actually negotiate. This is for a buyer's agent and a seller's agent. The smartest and best way to negotiate and actually see the outcome the client wants, quotes need to be obtained. Clients tend to be lazy and don't want to keep spending money on quotes when they feel unsure. Sellers can compensate buyers in 3 ways for inspection repairs: 1. credit the buyer 2. reduce the purchase price 3. pay the vendor directly from proceeds upon closing Don't let the transaction fall apart because of ego and resistance. Do your part to move the transaction forward. IF YOU ARE LOOKING FOR A REAL ESTATE ADVISOR IN YOUR CITY, LET ME CONNECT YOU! https://docs.google.com/forms/d/1Cp6b... Email: [email protected] Instagram: laurenmhouse Tiktok: laurenmhouse Facebook: Lauren House Realtor #realestate #negotiation #realestateinvestment #realestateagent #realestatetips #buyer #seller #sellyourhome #realestateadvice #inspectionprocess #inspection