Seller says they will do the repairs

Published on 22 September 2024 at 09:06

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Do not trust they will be done corretly

 

When a seller says they will get repairs done during a real estate transaction, it typically means they are agreeing to fix certain issues with the property, often as part of the negotiation process. This could arise after the buyer's home inspection report highlights problems like structural damage, faulty electrical systems, plumbing issues, or other concerns.

Key things to keep in mind when a seller agrees to repairs:

1. **Written Agreement**: The buyer and seller should put any agreed-upon repairs in writing. This can be included in the purchase agreement or as a separate repair addendum. The more specific, the better, so both parties know exactly what repairs will be made.

2. **Scope and Standards of Repairs**: The agreement should detail the scope of the repairs, how they will be completed, and who will perform them. It's common for buyers to request that a licensed contractor or professional do the repairs rather than the seller themselves.

3. **Timeline**: Repairs should be completed before closing, so a clear timeline is necessary. This ensures that the buyer has time to verify that repairs are done properly before finalizing the sale.

4. **Final Inspection**: Once the repairs are completed, the buyer may request a final walkthrough or inspection to verify that the work was done to their satisfaction. In some cases, a re-inspection by a home inspector can be arranged.

5. **Credits or Price Reductions**: Sometimes, instead of having the seller handle the repairs directly, buyers and sellers agree on a credit at closing or a price reduction. This allows the buyer to take care of the repairs themselves after purchasing the home.

Make sure all details about the repairs are properly documented to avoid any potential disputes later in the transaction.

 

Make sure you get receipts from true licensed professionals doing the work

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