In this episode of “Get Real Estate Smart” David talks about how not to lose a deal once you ago under contract by asking for the wrong things on a repair request.
90% of the time when a deal falls through its during the inspection period.
It's important to understand things that you should be asking for and things that may not be as important.
You have to identify what kind of market you’re in and who has leverage first.
In a sellers market when inventory is really low and buyers are fighting for inventory, the seller is going to have leverage in the negotiation process.
However, it could still be a sellers market but if the property has been on the market for several months the buyer may have leverage to negotiate.
Things David does not recommend putting in a repair request include:
Cosmetic items such as: paint color or cracked tile. Those are things you can easily take care of on your own and are not worth asking for.
Things that are obvious such as new landscaping in the front yard, or a fence in the backyard. Those are things you knew about going into the offer so don’t out in a request for them.
Big things just because they are old. Items like the roof, water heater or AC. Asking for a credit just because they are old is not recommended.
Things you should ask for include:
Roof issues like leaking
AC not functioning properly or in working condition
With these tips and tricks we hope you now know what you should and shouldn’t ask for to allow your deal to stay together when you go under contract.