The days following a home inspection can be the most difficult in a real estate transaction says Inman News columnist Barry Stone.  This is the time that the decision to proceed with the purchase happens.  There is a lot at stake for both sides of the table.Buyers can make huge demands and sellers can be shortsighted in refusals.  Both sides can make self-defeating moves allowing a transaction to fall through over a difference of a few hundred dollars. 

Repairing a few defects while keeping in mind the goal of selling the home and moving on should be at the forefront of the sellers mind. Stone says to ask yourself: "Is that principle so important that you would rather put your property back on the market and wait for another buyer to come along sooner or later?"

Buyers, as well, should keep in mind their main objective. "They need to ask themselves: Do the costs of these repairs outweigh our desire to own this property? Would we rather cancel the sale and shop for another home?" says Stone. 

A little give and take is necessary in these negotiations. "Common sense and reason can be overshadowed by emotions."  says Stone.  So it's important to your eye on the goal and offer reasonable compromise.

Read more at Inman News.

photo credit: nikkigomez

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Posted in Headlines, Blogging, Real Estate Market Conditions

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