Negotiation After the Inspection
After the buyer receives the inspection report, they might get bids for repairs or set up additional inspections. For example, have a roof or foundation expert visit to inspect beyond the basic inspector's report.
- They might be happy with everything and simply let their option expire.
- They might ask for repairs.
- They might opt out of the contract without explanation.
- They might ask you to pay some of their closing costs instead of doing repairs.
- They might let their mortgage company know about things needing repair and then the mortgage company could may the loan dependent upon those items being fixed prior to closing. Who would pay up for negotiation.
- They might provide you with a copy of the inspection. Or not. (Pro's and con's to receiving the inspection. You need to disclose it to future buyers, which can be good or bad. You have an opportunity to fix things before going back on the market if the buyer opts out.)