If you have found your dream home, you may be looking to the home inspection with both excitement and dread. You want the clearance to buy the home because it is in great condition, but getting through the inspection is like waiting to hear bad news. You want the inspector to find problems so you make an informed decision, but at the same time, you dread the idea of a problem turning up. If your home inspector finds an issue, or several issues, it does not mean you need to walk away from the home. Many home problems can be fixed with simple repairs. Consider yourself lucky to have an inspector who is thorough and weeds out potential problems before you have any leverage to deal with them. If your inspector finds a problem during the inspection, you can use the findings to negotiate a better deal. Expense reduction and contract negotiation is common when making a home purchase. Before moving forward after your inspection, be sure you understand your options.

When a problem is found, you can ask that the price of the home be reduced. Consider that the home is worth less because it is not in ideal condition. You may have to fix the problem immediately, but some problems are not safety issues. If your inspector finds there are parts of the carpet that are worn away, you can ask the homeowner to consider a lower price because you will eventually need to replace the carpet. Keep in mind, a cosmetic bargaining chip like this can be used even if an inspector is not involved. If the condition of the home is outdated or worn, even if the home is structurally sound, you can work with the homeowner on a better price.

You can ask that a problem be fixed by the buyer before the sale occurs. Instead of having to worry about fixing something as soon as you move into your new home, you can ask that the problem be dealt with while the home is in escrow. There is likely to be a period of time between your making the offer and the settlement of the sale. The seller can use this time to call in a professional and make the repairs or improvements. When doing a final walk through a day or two before the sale, inspect the work and be sure it is up to the negotiated standards.

You can ask for the money to fix the problem. If you want to get the deal done as quickly as possible and the home can be occupied with the existing problem, just ask that cash to fix the problem be part of your deal. You will walk away from the settlement with the funds to make the improvement. Cash can be especially helpful shortly after buying a home.

Finally, remember you can always walk away from the deal. The home seller will be more concerned they will lose their sale based on the findings of an inspector. Use anything the inspector finds a leverage to get the best deal you possibly can.

Author Bio: Ellie Lewis recently spent time researching expense reduction programs for a client who is in need of help. She signed his staff up to take a contract negotiation class in order to perfect their skills.

Category: Business
Keywords: expense reduction,contract negotiation