Home sellers naturally don't want to make repairs to a home they're about to vacate. But homebuyers, equally naturally, want their dwelling to be perfect. So, who's right?
Usually, buyers and sellers negotiate a compromise that allows their transaction to move forward.
But not always, says Kent Temple, broker and owner of Keller Williams Realty - The Temple Team in Mooresville, N.C.
"Buyers think every house should be a new house, and sellers say, 'Why should I fix anything?' At that point, it's one more thing we have to negotiate, and not only does it get contentious, but we lose deals because of it," Temple says.
Real estate contracts differ from place to place, and some places have more than one common or so-called standard contract in use, explains Harvey S. Jacobs, a real estate attorney with Joseph, Greenwald & Laake in Rockville, Md.
Read on:
http://www.bankrate.com/finance/real-estate/who-repairs-home-buyer-or-seller.aspx