I am planning on purchasing a house and want to know what are reasonable demands at closing. The house needs a lot of work, and I don't know when to start with this and what is reasonable..
2007-02-11 17:33:20 · 7 answers · asked by Danny 1 in Home & Garden ➔ Other - Home & Garden
necessary repairs like roofing, tree removal, foundation work and stuff like that are reasonable, you can work out an escrow..but something like a fence..it is questionable as to whether you could get that done or not since it is not an absolute necessity, unless you were talking about a legally required barrier around a pool..then that would be considered reasonable
2007-02-11 17:38:09 · answer #1 · answered by dances with cats 7 · 1⤊ 1⤋
The time to negotiate is before you sign any contracts. Stipulate in your contract that you want certain things done to the property. If the seller doesn't want to, then he rejects your offer. Also some things can be deducted from the price of the house, but all of this has to be negotiated at the time you sign your contract, because you want stipulations. Make sure you get a good reputable Realtor to do this for you. He or she can guide you in what's what. If the house is in disrepair the owner probably doesn't have the money or skills to do the repairs. The fact that it needs work should also be reflected in the selling price of the house.
2007-02-12 01:48:40 · answer #2 · answered by Lola 6 · 1⤊ 0⤋
You can ask what ever you want, but the current owner can act or not and that is where you have to negotiate. You mentioned that the house needs a lot of work, did the price reflect that? Also you are paying a real estate agent to assist you, what have they done for you ? Have they been of assistance or have you not asked them? They should have a pretty good feel for what is reasonable and what is not.
2007-02-12 01:44:55 · answer #3 · answered by MT C 6 · 1⤊ 0⤋
The seller has factored in all the work you will have to do to the house when they came up with the selling price. Don't ask for so much that they decide to fix it themselves and just sell it for a higher price later. Be reasonable and look for the seller to fix what is necessary (ask your realtor for advice)
2007-02-12 01:44:26 · answer #4 · answered by ednolb 3 · 0⤊ 0⤋
You should ask for whatever your hearts desired, what you get or, settle on, may be something more reasonable. Remember that they're selling and want to get out, they have you there and, may meet some demands from you. On the other hand if they have other buyers waiting, you may be out of luck, it can work two ways so, don't get to pushy.
Thre's a lot of property out there today and many buyers. Be careful but you don't have to be a begger.
2007-02-12 04:47:52 · answer #5 · answered by cowboydoc 7 · 1⤊ 0⤋
Just factor what you think replacing or repairing these things is into what your offer price is. Also have to look at similar property in that market and adjust accordingly. You can't make "demands", well you could try but you won't get a great response.
2007-02-12 01:37:53 · answer #6 · answered by devast725 3 · 1⤊ 1⤋
There are no set rules for this and it is all subject to negotiation as is the selling price of the house. (anything you can get is reasonable.)
2007-02-12 01:39:04 · answer #7 · answered by dano 4 · 2⤊ 1⤋