T his column introduces a number of important concern that are often trivialized in the real estate transaction. Hopefully this will shed a little light on the subject and clear up some of the issues. Most purchase agreements include an inspection contingency that allows the buyers to inspect the property. Who pays to repair defects discovered during the inspections is often negotiable. Frequently, buyers and sellers agree to share the cost to repair defects.
Sellers often balk at petty requests.
Also, sellers can't be expected to remodel or upgrade their house to the buyer's specifications. The defects that sellers are often receptive to repairing are ones that pose a health or safety threat. Inspections may reveal that systems aren't defective at all but that they are at the end of their useful life. If the system is truly on it's last leg, the buyer may be able to negotiate a credit from the seller, or a price reduction, to help pay for a new system at some time in the future. Defects that surface after closing can be problematic.