The structural inspector has just handed you his twenty-five-page report on your "perfect" home and you discover that it isn't really perfect after all. Maybe its "Old World" charge extends to the heating and plumbing systems or the roof leaks when it rains. What do you do in a situation like this? Do you back out of the deal and go back to square one, or do you renegotiate your purchase agreement with your sellers?
Your strategy will depend on several things. Did you know about the problems when you made your offer? Did you make an offer at the top of the market, or did the sellers build into the asking price an understanding that their home was a handyman's dream?
Most structural inspections turn up at least a few items, occasionally major ones that need attention. The property clause in your contract should spell out whether the buyer or seller is responsible for completing repairs. If there are major items that come up as the purchaser's responsibility and you are thinking of backing out, consider renegotiating with the sellers before you back out of the agreement, especially if you really like the home.
Our agents here at Sand Key Realty S & R, Inc. are here to help you with your future. Please give us a call at any one of our three convenient locations: 740 S. Gulfview Blvd., Clearwater Beach, (727-443-0032), 309 Belleview Blvd., Belleair (727-461-4200) or 2701 Gulf Blvd., Indian Rocks Beach (727-595-5441).
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