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Inspection- who pays for repairs?

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October 16 2009 - Irving
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It's all negotiable.  I usually recommend a credit in lieu of repairs.  This mitigates the seller's liability.
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October 23 2009
The seller is usaully the one to pay for repairs, unless the house is being sold, AS IS!! This has to be incorporated into the contract! Usually on a house the buyers Attorney will ask for a credit or repairs to be done by the Seller. Most cases everything is negotiated and you go back and forth until everyone's comes to an agreement. Sometimes you luck out, depending on how motivated the Seller is to sell the property! Everyone's senerio is different!

Millie from Exit Realty
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October 22 2009
This all depends on a lot of factors.  Repairs are part of the negotiation process, but, depending on what kind of contract you have on the house, the buyer may be able to walk away and get their earnest money back upon refusal of certain repairs.  According to Alternative 1 in the NC Offer to Purchase and contract, all built-in appliances, the electrical system, plumbing system, heating and cooling system, roof coverings, doors and windows, exterior building surfaces, structural components, porches and decks, fireplaces and flues, crawl space and attic ventilation sytems, and water and sewer systems must be performing the functionfo which it is intended and not be in need of immediate repair.  If these things are not done by the seller, the buyer has the option to walk away with no penalty.
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October 17 2009
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It is negotiated.  The buyer can request the seller pays, but the seller does not have to accept.  At that point the buyer can bow out or chose to pay for the repairs themselves.
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October 17 2009

Typically the seller is responsible for making the repairs.  However, depending on the situation,  if it's a short sale, the buyers may pay for the repairs because they are usually getting a deal on the home.

The seller is not required to do the repairs and can lose on a buyer.  Buyers get their earnest money back too.

If they are lender required repairs, the contract is very clear that ALL the repairs are to be performed BEFORE closing so you can't negotiate with the buyer where they can do the work after they move into the house.

Naima

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October 17 2009

If the seller doesn't have the funds to make any repairs and there are no other options and deal will fall apart if the repairs aren't made and I'm making 10 or 15k on the deal as the listing agent, I throw the money in and make the deal happen.  Most agents are to greedy to do that, but a lot aren't.  Of course if the repairs are more then half my commission it wouldn't be worth it to me to put up my money initially.  I look at it this way, if the deal falls through, the same issues will come up with the next buyer's inspection.  I would rather make some money then no money and move on to the next transaction.

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October 17 2009
It depends.

If the buyers inspection turns up repairs that are needed, the buyer can go back to the seller and request they either make repairs, take less money for the home or escrow the money needed for repairs and the buyer would do the repairs after closing.

The seller (in most cases) are not obligated to make the repairs and the buyer (in most cases) is not obligated to accept the property without repairs (assuming there is an inspection contingency).

The seller may be obligated to make certain repairs if there are safety issues that make the home unsalable. In that situation the seller would have to pay to make the repairs. But they could also sell the property 'as is' which makes the responsibility of repairs up to the buyer.
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October 16 2009
 
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