You and the sellers have gone back and forth and have finally come to an agreement on the repairs. Yea!! You are one step closer to closing on your house in Spring Texas.
But wait! Who is going to do the repairs? Is the sellers’ cousin, Jim Bob, who is a self-proclaimed “Handyman Rock Star” going to do the repairs? Or are the sellers going to contribute money towards your closing costs in lieu of doing the repairs leaving you with the hassle of coordinating the repairs after closing?
Repairs are a hassle because you have to secure the quotes, schedule the repairs and then hope the contractors are on time, and finally approve the repairs. Easy to understand why neither buyers nor sellers want to handle the repairs.
If I am representing the buyers in the real estate transaction, I want the sellers to contribute money towards the buyers closing costs in lieu of repairs. Since my clients are getting ready to move into the house, their idea of how a repair should be done will more than likely be different than the sellers. The sellers won’t be living in the house too much longer and are not going to be concerned with how long the repair lasts.
If I am representing the sellers in the real estate transaction, I want the sellers to contribute money towards the buyers closing costs in lieu of repairs. If I have the sellers handle the repairs there is a possiblity the buyers may not agree the repairs were done properly. If the buyers don’t agree the repairs were done or done properly, the buyers could either delay or cancel the closing.
In some real estate transactions the sellers have already agreed to contribute the maximum amount allowable by the lender to the buyers closing costs. Leaving the seller no choice but to handle the repairs. In this situation I advise my sellers to have the contractors do exactly what is written on the repair amendment and for the repair receipt to also match word for word what is written on the repair amendment. I want to eliminate the potential for disagreement by the buyers.
I can’t make my clients follow my advise on how to handle repairs. I wish I could though. Especially when one of the pitfalls I was trying to protect them from occurs.
We were very lucky to have Jill helping us in finding a home in Houston this summer. She is THE... read moreWe were very lucky to have Jill helping us in finding a home in Houston this summer. She is THE best agent we have ever had in our past moves, and I have similar feedback from my colleagues whom she helped moving to Houston this summer.
We really were impressed by her knowledge about the Houston housing market and related policy, and she was always there to answer the questions we had. She was very quick to find out what we really wanted, and walked with us home by home very patiently till we found the one we like. She spent many hours with us in the design center, making suggestions from carpet colors to light fixtures. Since we moved from other states and were not in town when the house was being built, she walked through the house and sent us progress photos everyweek. Mostly impressively, she worked hard to deal with the builder on the progress and quality issues on our behalf, and in the final home walkthrough, we were amazed at the details she helped to capture and ensured the builder fix the punchlist item timely.
All in all, we are very happy to have Jill help us. We recommend JIll extremely highly, and would not hesitate to seek her help if we were in the market again. read less