This post will explain what your options are when buyers come asking for fixes. 0000008226 00000 n 2. 0000047663 00000 n The work has begun on widening Hwy 42 East from Glen Laurel Rd to Buffalo Rd in Clayton. [���� ? s�T��֒�B�,�(����=�:��C��kx�5���o*k��`d�3�R�3(J��X(s������}`���a�sTp �s��������� �)�l��I��=j�Ŋ�ƽC(�|Nv,HVHY�+����"�z��C1���U�h���b+Y�*�;*�rAv�R���5bl�'!K�X{G���)�� d����_%�Ī>!3l|�;Z� ��e7S�U��R(��C)�9� dȐ֕�ȓ�aºs0�i�%�υtTmW+����x`�w�F��\��Ƒ�K�'�tyʹwR9Ղ�P�#ŋvq�O��*O���,�J�K-�z빲��-���u��Q�#�J��|�C�8�2�Ӕ(�nT��:��P�t���P�(X��'Z*�X��Z{�E}W��o�^�P Unless otherwise specified, the buyer has 10 days to complete any of the inspections elected in Paragraph 11. Unless the Seller notifies the Purchaser in writing to the contrary by _____, 20_____, the Purchaser will assume the Seller agrees to make all repairs listed below. 0000001664 00000 n Buyer reaffirms their right to cancel, and the seller responds by claiming that the buyer is in breach of contract and seller is entitled to retain the deposit. IF BUYER FAILS TO Addendum to Inspection Response Buyer shall have the right to inspect and accept Seller's repairs prior to closing. 0000108514 00000 n We had a home inspection done and there were a few items that needed repairing but considering the house was almost 25 years old not a lot. In a buyers market its a little different but once a buyer has made an offer on a house they want they house it's not as if they'll go down the street and buy another one if the seller won't make the repairs. N��*�9:F��u��:�ў�>�1D�>�#U�y�S3.5,R�u Step 29 – If applicable, complete the Seller Response and Buyer Reply to Request for Repair (form RRRR) – aka the seller's response to buyer's Request for Repair (RR). Yes a home inspector will make note of a light bulb that is not working and recommend repair or replacing because it may not be the bulb that is blown but something more serious. Revised December 2018. The buyer submits a repair addendum under Paragraph 9 (c) (3) on day 3 of the “Due Diligence Period” asking for termite repairs. 0000018220 00000 n <<3CE430FFBE8CBC489BED262882C0D11A>]/Prev 195602/XRefStm 1484>> Buyer submits to Seller a list of repair items via a request for repair form or amendment to the purchase contract. Remember everything is negotiable and you are not obliged to do any repairs just keep in mind the buyer is not obliged to buy the house if you don't. If you’re a home buyer, getting a professional home inspection is an important step in the process. 0000016452 00000 n If you are paying for closing costs you will likely be able to narrow the list down. You negotiated the offer and agreed to the sales price, agreed to a closing date and maybe you're paying closing costs, signed the sales contract and now this. The repair request is an itemized list of requests the buyer is making to the seller and they can be cosmetic, mechanical, structural, pretty much anything they want to ask for...doesn't mean you have to do them though. The request for repairs: notifies the seller of any material defects discovered by the buyer which were undisclosed and unknown to the buyer prior to acceptance of the purchase agreement; calls for the seller to repair, replace or correct the noticed defects prior to closing the transaction and delivering possession to the buyer; A seller has a choice of three responses. 0000181292 00000 n Not all markets are like this but it's nearly always better to work with the buyer you have than to go and find a new one, so long as they are being reasonable. 0 REPLY OR FAILS TO REQUEST IN WRITING AN EXTENSION OF TIME TO REPLY, BUYER ACCEPTS SELLER'S INSPECTION RESPONSE ABOVE. However, if you are moving into requests that are very expensive such as major plumbing, electrical and appliance repairs, and issues with the roof or foundation, this is where I recommend the seller consider hiring a professional to assess the situation and determine what repairs need to be made. Major Items On A Home Inspection Will Need Fixing. The seller agrees believing that this is the only repair that the buyer wants. Nor will you have to issue through your seller’s agent the Seller Response and Buyer Reply to Request for Repair No.____ Or other Corrective Action Form RRRR. �I���>��]KE�.ʵ:1���6#: �T�X.�EKj�f"���h(Q�&\�z�x�$�������o8r��H%�IFj�P.�2`�(�9�o:B��@Iq�����CH��V�����Ѷi;�[���3�̥:P_d�l��H�dO}�!tRa���4T��h�4���C�˙�,��Ǐ(zQ4�qm��j���V�Q,�j�e���@JR:G�V����N�ڐ�N�&��K ��CҟGۦ��w"���h�ڐ[���rϒm�#E�ŴoHTS�4�� a�T� All home inspectors are not created equal and if you have two home inspectors inspect the same house it is very likely they will come up with two different reports. %%EOF If your house is older than five years and your agent prepared a net sheet you may have allowed for any repairs you felt might be needed. If they are minor and more of an inconvenience decide if it's easier to just do them and move on or negotiate some of them off the list. In truth almost every home regardless of age will have something wrong with it or something that needs attention, even new homes have something that a home inspector will catch and write in their report. The seller can respond to the Request for Repair with the Seller Response and Buyer Reply to Request for Repair (form RRRR). The most common way that is done in other states is to give the buyer an express right to propose repairs and then approve, or not, of the seller’s response to the repair request. As I said they were mostly minor items more of an inconvenience to my buyers  than anything  and the major components of the house were recently updated, new roof, new HVAC so the buyers took it as is. Read through each item and get to the solution and then you will be able to decide if it is a minor fix or something simple such as replacing a light bulb. Purchaser’s Requested Repairs Seller’s / Purchaser’s Initials Once you as the seller have been made aware of a problem in the home that you were unaware of before filling out the Residential Property Disclosure Statement and it is mentioned on there, then you must repair it or make note of it in the disclosure statement. Tags: home inspection, home repairs, seller credits, seller credits for closing costs, seller credits to closing costs This entry was posted on Monday, March 2nd, 2020 at 8:49 am and is filed under Underwriting Rules.You can follow any responses to this entry through the RSS 2.0 feed. Form RR if the seller is agreeing to either everything or nothing that the buyer requested. 216 46 If this is the case and you plan on completing the repairs you will be required to hire a licensed professional to come out and find the problem, give you an estimate for the repair and then complete the repairs before the settlement date. All sales on single forms are final. 0000046828 00000 n A portion of the seller's proceeds can be held in trust after closing and used to pay for repairs. So what do you do when you get a repair request from a buyer that makes your head spin? If you have a really unique property which happened to buyers of mine recently when they were competing with multiply other offers on a one of a kind property which they eventually won and their offer was accepted. If they are big ticket items you have to decide if you can afford to make the repairs, and if not possibly taking the house off the market. The sequence of events and the time periods to observe regarding home inspections are found in Paragraph 12, Inspection Contingency. Response time: 3 days. In older homes the HVAC system is one of the common systems in the home that require repairs however if it is working and it is doing what it was intended to do then that is all that is required. 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