Skip to main content

My realtor thinks I’m asking for too much credit after negotiations

Context: - 3300 sq foot house built in 1990. - on market for two months and no competing offers. - Asking price was 620k and my offer of 595k was accepted.

We had our inspection which revealed many minor issues (not worried about minor stuff) as well as some larger issues that I want to negotiate a seller credit for.

My realtor immediately started going on about how we can maybe ask for around $3k but after going through the inspection report I want to ask for $10k. My realtor is balking at $10k and making it seem as if I’m asking for an outrageous amount.

The issues and my rough estimates of costs are as follows:

—————-

Miscellaneous electrical issues throughout: $500-750 - exposed and improper wiring in basement - couple ungrounded outlets in kitchen - improper panel wiring issues

Plumbing: $1000 - 2 out of 3 sump pumps are not operating and need to be replaced - unused leftover plumbing coming out of garage wall where a former mini bar used to be needs to be removed to hang missing drywall in garage

Gas leak: $250-500 - gas leak in kitchen cabinet underneath the range top

Forced Air Furnace: $2500 - old and inspector noted that it could require repair/replacement at any time

AC compressor: $1000 - old and inspector noted that it could require repair/replacement at any time

Garage dry walling: $500 - missing a very large section of drywall which is currently a safety issue because no protection from fire spreading

Windows: $2500 - large number of windows with broken thermal panes - large number of windows that are inoperable and won’t even open - very old and likely need replacing soon

Ventilation issues: $500-1000 - both bathrooms on second level have vents that just blow into attic and need to be fixed to vent outside

TOTAL: $8750-$10000

Am I being unrealistic to ask for $10k on a 600k house with the above issues?

submitted by /u/DropOutSoftwareDev
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/195k0st/my_realtor_thinks_im_asking_for_too_much_credit/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more