Profile picture for DanHolt1

Buyer is asking for a paint credit

Buyer is asking for a paint credit for a deck and ceilings after we have an agreed contract.  I would think they should have taken that into consideration when negotiating the price.  The deck needs staining but should have been very visible on the buyers showings.  Ceiling has some black soot from candles.  If I do not agree to the painting request can the buyer walk away.  thank you.
  • October 15 2013 - US
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Answers (9)

Profile picture for CallTheSisters
Joseph

Well said.  I certainly agree.  Prepare and spiff it up before you put it on the market.  Those are maintenance items and should have already been done.
  • October 16 2013
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I don't know but I guess its just me. If I was going to put a home on
the market for sale I would definitely have painted the ceilings if they
were smoked up and I would have the home in its best possible showing
condition before placing it on the market.

The credit couldn't be that much to paint these things, I would just do
them cause I think you should have done them anyway.
A good weekend could take care of these issues and even if the they
walk away at least you would have them done and then the next buyer
cant use that to negotiate with.

If you take care of them then they are no longer a credit there just done.
-Joseph-
  • October 16 2013
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Perhaps these things arose after a home inspection? Waterproofing/sealing, or painting a deck is considered surface protection and some types of loans require that all outdoor surfaces be protected.
  • October 15 2013
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Profile picture for wetdawgs
Expecting a buyer to take note of surface condition of every surface of the home in the initial walk through is putting a lot of weight on what might be a 10 or 15 minute visit to your home.   But, that time has passed and it is time to decide what to do next.   Top of your list is to recognize that there are several steps of negotiation in the selling process, it isn't always easy, but that is the way it is.

Yes, they can ask for it.   Yes, they can walk away if they ask for it within the contractual contingency period.   But, you can also negotiate.
  • October 15 2013
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Profile picture for aracz
Hi Dan,

A few quick questions:
1) Was the contract an AS-IS one?
2) Was there anything in the disclosures or inspections that focused more attention on these areas?

If it is within the contingency removal period, and if it was not an as-is offer, then the buyer can ask for the work, and you can chose to decline. In the gran scheme of things, if the amount of credit in your opinion is not too large, and if you don't have a backup offer, you may want to discuss with your agent the benefits of going with the offer in hand, rather than risking not getting another buyer at the right price, and even splitting the difference on the credit.

All the best,

Arpad
  • October 15 2013
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Profile picture for CallTheSisters
If the buyer is using FHA financing the deck could be an issue and required by FHA.

While they shoulda and coulda seen the ceiling - maybe they were so excited looking at other things they did not see it.  Perhaps they were not aware the deck could cause their mortgage to be declined by FHA.

If you are still in the inspection contingency period and it has not been removed they can terminate the contract.

How much are they asking for? You can still counter anything they throw out to you.  Counter that you will do the painting and staining instead of giving them a credit. Try to resolve the issue and don't alienate a buyer.
  • October 15 2013
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It really depends on what your contract states and what you have in it for contingencies, if these request come as part of an appraisal condition or a building inspection, then yes they can walk, however if they are just trying to re-negoiate, then you are not required to give them a credit. I do agree with you, that things that are obvious like paint during an initial walk thru should have been negotiated on the original purchase and sale agreement. Hope that helps...good luck!!
  • October 15 2013
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Buyers can and have the right to ask for a credit/price reduction to offset the cost of fixing as long as they are within their contingency periods (property/buyer investigation periods). Not sure what state you are in? In CA if it is marked on the contract, buyers are within their contractual rights! You have a right to not agree to the new terms and they can either walk or move forward!  However, if there is no contingency periods then they have to move forward (if you say No), or risk losing their deposit!! I would consult with your agent to advise you!!

  • October 15 2013
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Profile picture for nwhome.us
You're leaving out a lot of information that is in the context of the agreement that you signed with the buyer.

As a seller you want to be able to give the buyer every opportunity to inspect the property before you close on the deal  You don't want them coming back after the fact and claiming that something was intentionally undisclosed.

There is no way for a buyer to do a complete inspection prior to making an offer and there is no way that most buyers will be experts in reading the nuances of the condition of the home that they have made an offer on. That's why they should be hiring expert inspectors.

Specific requests that a buyer makes after an inspection may not be much more than generic tasks associated with a specific amount of value that they find is closer to what they want to spend on the home. I'd recommend focusing on the dollar amount, not the task, and decide for yourself whether you are wiling to part with the home for that dollar value.

Yes, if the negotiation is prompted by an inspection, all of the requirements of the agreement are being met and you don't reach an agreement on the revised price, the buyer can terminate their offer and have the earnest money refunded to them.
  • October 15 2013
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