Seller Credit Roof Repairs

It also protects the seller if initial estimates for needed work turn out to have been overstated.

Seller credit roof repairs.

Buyers who ask for credits just to get the price down may be taking a chance. If the sellers agree to pay for the roof repair or at least help with it try to negotiate a cash credit rather than let them handle the repairs. They re almost certain to take the cheapest route. If the roof needs a full replacement there s a chance the seller will replace it or have it replaced under their home insurance policy.

Sometimes they will offer cash credits instead. Finally if you get the credit there will be less back and forth to confirm that the seller correctly made the repairs. The seller may agree to meet the buyer s demands but making repairs to a home fixture such as a roof isn t convenient while a person still occupies a home. Scott brown owner of brightside home inspections in syracuse ny.

Chances are you may do a better job than the seller too. Hvac systems and water heaters. Ask for a repair credit rather than having the seller coordinate and pay for the work ask for a repair credit instead. We signed a mutual acceptance form stating the seller would give 10 000 credit in lieu of roof repairs our agent told us this is great and that we would have the money to do the repairs ourselves.

Once the repairs are made the roofing company will issue a roof certification to show it s in good condition. If you re selling your home you might wonder if there are common repairs needed after a home inspection most buyers after all won t commit to purchasing a place until there s been a thorough. Well now we are being told that the money can only go towards our 5 000 in closing cost and we miss out of the other 5 000. These agreements help protect the seller because buyers sometimes ask for credits just to help offset the closing costs and never intends to do the repair work.

They are typically used as a cash credit to accommodate for repairs that surface after a home inspection but they can also be used to help with closing costs. Note that a seller s credit is rarely used for minor repairs which could be done before closing. And this is how the repair credit. The buyer may just ask that the seller have those repairs done or ask for a price reduction.