Negotiate Concessions
During your Option Period, if you discover issues that need repair that were not expected or previously disclosed, it makes sense to try to get concessions from the seller. This might be an actual repair. More often, it comes in the form of having the seller pay some of your buyer-side closing costs. Leaves cash in your pocket so you can deal with the repair later.
Benefit is that you choose the repair provider and potentially have any warranties in your name.
Downside is that it might be on your honey-do list for years.
This second round of negotiations can be affected by the first round - the contract. If we beat every last dime out of the sellers, we might find empty pockets. If things went cordially, we probably will have an easier time getting reasonable requests made now.
If the seller doesn't agree to a solution you can accept, your recourse is to opt out of the contract and go find another house.
Benefit is that you choose the repair provider and potentially have any warranties in your name.
Downside is that it might be on your honey-do list for years.
This second round of negotiations can be affected by the first round - the contract. If we beat every last dime out of the sellers, we might find empty pockets. If things went cordially, we probably will have an easier time getting reasonable requests made now.
If the seller doesn't agree to a solution you can accept, your recourse is to opt out of the contract and go find another house.
