What Happens If A Seller Does Not Make Repairs Before Closing?
AuthorAmanda Dodge. Date:
Real estate is all about negotiating, from setting the sale price to agreeing on a closing date. However, some parties may agree to terms and then fail to fulfill their end of the bargain. Buyers have several options if the seller does not make the agreed-upon repairs or fails to do them correctly. The right course of action will depend on your preference for the house, your finances, and the local real estate market. It will also depend on the behavior of the seller. Here’s what you need to know about delaying closing, negotiating credits, and pursuing legal remedies. You will also learn to take steps to prevent disagreements through proper contract language. Common Holdback Scenarios Buyers typically make repair requests in their initial offers or through renegotiation after the home inspection. If you are entering the housing market, your real estate agent should walk you through your home inspection … Continued
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