Buyers carry out home inspections to ensure that they get what they are paying for. In most cases, these inspections are carried out after an offer has been made and it is not unusual for a buyer to insist on a contingency that covers him or her in case the house turns out to be way worse than they expected. This is what may then trigger a second round of negotiations.
Having to renegotiate on the price of your home is something that you should strive to avoid because of a number of reasons. For starters, it is a waste of time as it may extend the period that it takes to close on the sale. This is inconveniencing especially if you are banking on the proceeds of the sale to help you reinvest in an ongoing home construction or as down payment for your new home. The other reason why avoiding renegotiation is important is because it can cause you not only to get a worse-than-expected price, but also to lose out on the offer as some buyers usually opt out of a deal in cases where changing expectations are involved. The following are tips that will come in handy in helping you to avoid the disadvantages of post-inspection renegotiation.
Fix easy-to-repair defects
An easy way to avoid having to renegotiate after a buyer's inspection is to simply fix any defects around the home. This is because their existence may give a buyer a good-enough opening to get you to give him or her a sizeable discount. For example, the presence of roof stains is a common sign of a leaky roof, something that makes most buyers nervous. This is because a leak can occur as a result of costly structural defects. If the stains on your roof were caused by something as simple as a loose fastener that was replaced or something as innocent as open shower curtains, remove them before the inspections. Doing this will save you from cumbersome post-inspection negotiations.
Prepare a comprehensive disclosure form
It is the this-is-not-really-what-I-signed-up-for factor that makes most buyers opt out of a sale agreement. The fact that they also have to worry about potentially hidden problems also makes post-inspection renegotiation difficult. To save the buyer from any surprises, you can volunteer to offer a comprehensive list of all the defects that you were unable to fix. This helps to ensure that the buyer's expectations are in line with the reality and ensures that even if there is need for negotiations, there will be little to no deviation from the originally agreed upon price.
Talk to a real estate agent for more.