What can you ask the seller to fix?

When seeking for homes on a real estate platform in India, making an offer on a home, almost all buyers ask for a home inspection. After receiving the inspection report, many people seek repairs or concessions. As a seller with a focus to sell properties online, it's critical to be prepared for the house inspection process and to know how to bargain if a home inspection reveals any less-than-ideal findings. After all, 15 percent of sellers who had a sale fall through did so because the buyer pulled out after the inspection report. A house inspection is a detailed assessment of a home that is for sale, performed by a qualified professional home inspector, based on a visual evaluation and testing of the home's systems and components. The end result is a home inspection report that describes the present state of the property and warns potential purchasers to any serious concerns. When purchasing a house, most buyers seek a home inspection in order to prevent spending thousands on unanticipated repairs after closing and to avoid overpaying for the property.

There are many reasons why home inspections fail most of the time which you can’t mention on a real estate platform for brokers. Even if the house isn't very old, sellers are frequently surprised when a buyer's inspection report includes a large list of repairs. Some of the most typical main problems that come up during inspections are roofing problems which can range from a few missing shingles to leaks or soft areas, and in some cases, a complete roof replacement if the roof is old or deteriorating. Wiring that isn't up to code, frayed wiring, and poorly wired electrical panels are among the most frequent electrical concerns. Leaky pipes, malfunctioning water heaters, and sewer system difficulties are among the most costly plumbing concerns. Cracked foundations, sinking, and basement water damage may all be expensive to repair. Termite damage, as well as the presence of other pests or vermin, can be major red flags for potential purchasers. Mold is a frequent concern, particularly in damp or humid areas, and remediation can be costly. Inspectors frequently find failing window seals, windows and doors that don't open and close correctly, or shattered glass. Asbestos or lead paint: This is a significant problem that should be avoided at all costs if you're selling an older property. Many contracts have particular asbestos and lead paint disclosure obligations, so be sure to report everything you know. Chimney damage: If an old chimney isn't in functioning order, it's a safety issue that has to be addressed.

With that in mind, let's imagine you're not buying a flawless property and you've received a report from the inspectors detailing a list of problems that need to be repaired or addressed. Let's move on to the difficult topic of "what is acceptable or fair to expect the Seller to fix?" It’s important to consider the following factors before asking for fixes.

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Value of the Property

We understand that when the Sellers read your request for repairs, their first thought is likely to be, "How much will all of this cost?" The fact is that, in most situations, the Seller's decision will be based on financial considerations. If you're purchasing a high-end property, $10,000 in repairs will be little. There is no clear-cut figure that is fair or unjust, but thinking about the repair list in terms of cash vs the home's worth might help put things in perspective. You don't want to ask for too much, but neither do you want to nickel and dime the Seller over minor details. 

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The Price you Paid

Did you pay the home's fair market price? Have you gotten a great deal? Have you made a generous offer that is somewhat above fair market value in order to get the property with mountain views? When it comes to repairs, this might make a huge difference in what you should ask for. If you're paying less than fair market value, I wouldn't anticipate or ask for much in the way of repairs. If you're paying fair market value, on the other hand, it's usually not unreasonable to ask the Seller to perform some of the repairs.

Aesthetic or Functional?

As a general rule, asking the Seller to modify anything that is merely cosmetic is neither fair or acceptable. Seals on windows are one example that instantly comes to mind, and they may be difficult to traverse. It may surprise you, but it gets hot in Mumbai, like very hot! It's so hot that our window seals might stretch or buckle, which isn't attractive. The window, however, is still functional until the seal fails or there is moisture build-up in the glass. It isn't fair to expect the Seller to replace the window if it is still functioning but has unsightly seals.

Does the repair affect your safety?

As a general rule, asking the Seller to remedy something that is a health or safety hazard is fair and reasonable. Termites in the house, for example, can be dangerous if left untreated for lengthy periods of time. It is fair to request that the Seller cure any active termites discovered.

Market 

This is a really significant aspect. To buy, sell, rent properties in India, is it a Buyer's Market, a Seller's Market, or a Balanced Market right now? We'll be producing a video on this issue shortly that explains into the differences between buyers, sellers, and balanced markets, but for now, consider how fierce the competition was for this home.

If the house has been on the market for months with no activity, you may be allowed to ask for more in repairs before making an offer. On the other hand, if you're dealing with several bids or, worse yet, back-up offers, I'd limit your repair requests to a minimum. As you can see from these variables, determining what is reasonable when requesting for repairs following a home inspection is a delicate balancing act.

Credit: Manavi Sarang