If you have taken good care of your property, you
rightfully expect that selling your New Orleans home will result in its fetching
a good price when it hits the market. That’s the right mindset for success, but
it serves sellers best when it’s only a starting point. Dealing with flesh-and-blood
buyers can require some judicious flexibility—for one reason, there is usually
an inconspicuous (somewhat annoying) fly in the ointment. The metaphoric fly is
the fact that no property is without its flaws; and its metaphoric buzzing is
likely to get louder as your sale’s closing grows nearer.
Structural elements of a house have varying life spans
since wear and tear is inevitable in any space where people live. Many of a
home’s features eventually require repair, and if it’s very soon, given that
most informed buyers expect to take over a property with as few problems as
possible, post-inspection demands can result. Especially if you’ve put a good
deal of effort into getting everything shipshape, it can be maddening.
Nevertheless, plan to ignore any impulse to scrap the sale
and tell the buyer to take a hike. Since some post-inspection requests are par
for the course, you should know your options when you’re selling a home in New Orleans and your buyer requests repairs.
Repair
Obligation for the Seller
As the seller of the property, you are not required to fix
anything in the home inspection report. Any repairs cited are points of
negotiation: just because an inspector cites flaws, that doesn’t mean repairs
have to take place before the sale can be completed. If you don’t want to
accept a purchase agreement that is conditioned on the completion of repairs, that
is your option.
Purchasing
a Home Warranty for the Buyer
Buyers sometimes request that you as seller pay for a home
warranty. A home warranty generally covers the buyer’s outlay for major defects
for a year following purchase. Such a warranty will typically cost no more than
$600, and again, the decision to purchase one is up to the party selling a
home.
Major
Repairs
In many cases, requested repairs will be relatively minor,
so it’s often preferable to have them made to proceed without further wrangling.
But (you can almost hear that fly buzzing louder) should requested repairs be
more extensive, you’ll have to evaluate the cost against the sale price.
Whether to
Complete a Repair
Your home might be your pride and joy, but it is important
not to take requests for repairs personally. Selling an New Orleans home is
most successful when the seller first carefully examines the request, then makes
a rational assessment based on what will produce the optimal outcome. If a next-best
offer is on the table, its terms should be reexamined. You can also offer to
proceed with the original purchase agreement but not agree to complete the
repairs as requested. If the buyer likes your home and believes the price is
reasonable, he or she may agree to proceed with the purchase as-is.
Whether or not you are concerned about potential repairs,
if you are thinking of selling your home in New Orleans this summer, contact me today for a complimentary
evaluation!
Terez Harris NOLA Real Estate Group
(504)297-2619
Harris.Terez@gmail.com
Keller Williams Realty New Orleans 8601 Leake Ave. New Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers licensed in the state of Louisiana.
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