Getting the deal done, when selling your home in the Kansas City Metro area
What was this seller thinking? We all know that this is a buyers market, however one seller didn’t get the message. While working with a home buyer client a few weeks ago, I was amazed by the seller’s lack of motivation to work with my buyers. After a lengthy negotiation we were finally able to come to terms and it seemed as though all was going well. Then came the home inspection…
This was one of many homes built from roughly 1982-1997 that used what was later deemed to be faulty plumbing material called polybutylene. While the seller felt that the plumbing was in fact working and did not leak, the real issue with this type of material is that it deteriorates faster due to the amount of chlorine used in today’s public water.
Without repairs being done, my client would have been sitting on a ticking time bomb while waiting for pipes to leak, burst, and damage to occur, so we asked that the seller share in paying for the cost of re-plumbing the house which we thought was VERY reasonable. The seller did not think so.
Over a month later and this home is still on the market and I imagine will be that way for a while unless the seller is willing to repair the now known issue regarding the plumbing of their home.
Once something like this is stated in the inspection report, the seller is obligated to disclose to future potential buyers. My client loved the home but was not about to purchase it with a potential repair of $10,000 staring them in the face.
A month later and the home is still vacant. And if the home sits vacant for 3 or 4 additional months and the seller’s mortgage payment is $1,500 per month, getting the original deal done by agreeing to share in the repairs would have been a win-win situation for all.
Don’t let that happen to you as a seller. Get the deal done by working with the buyer to reach a mutually beneficial arrangement. It will save you time, money and plenty of grief.