After going back and forth a dozen times we finally decided how much we were going to ask for in repairs. Often times, the buyer will request that repairs are made prior to closing, but because we were in a hurry to close (pending end of lease), we simply asked for a concession.
Because of the roof being a major concern we budgeted in the concession for a new roof in the coming years. In addition, we wanted the HVAC to be serviced and the chimney to be cleaned. In total we asked for $10,000.
While the $10,000 would only cover the cost of roofing the house, we knew that the roof was going to need to be replaced going into our initial offer and that we were not making an offer on a house that had a brand new roof. If the roof was brand new, obviously the house would be worth more. So in reality only part of that money was to go towards the roof.
We thought this was a reasonable concession given all the items on the [40 page] home inspection! They did not seem to agree.
Their counter was $2,000. I promptly fell out of my chair at work and became sick to my stomach. However, after getting back in my chair, talking with Matt [my husband] and calming down a bit, we realized they would probably come up a bit from that and $3,000 would cover the cost of fixing the roof that had a history of leaking [we had a contractor come out and give us a quote]. Getting the HVAC services and the Chimney cleaned wouldn’t be over $500 and we could swallow that. We decided that we would accept $2,000 if that was their final offer, but we thought it couldn’t hurt to try for more.
Our counter to their $2,000 was $5,000.
Question: We only ever talked to our lawyer about concessions, we have never asked for items to be repaired, have you?
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