Chris at Hauseit (https://www.hauseit.com'>https://www.hauseit.com) goes over the dilemma that occurs when a seller is not willing to negotiate after a home inspection. What can and should buyers do in this situation?

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If the seller refuses to negotiate or budge at all after the buyer has a home inspection and asks for a credit or repairs, then the buyer can either back out or go through with the deal as is.

In most cases, the buyer will just go through with the deal as is, because they've invested too much time and energy into the process of buying that particular property. This is especially likely when buying a condo, and the inspection is likely to only reveal minor things if anything that the buyer him or herself didn't find via a visual inspection.

The buyer could of course continue to try to negotiate right up until the expiration of the inspection period in Florida, or really with no time limit in New York since inspections are done before contract signing in New York.

A buyer may also opt to simply back out if during this inspection or diligence period the stock markets crash, in which case the buyer could opt to back out really for any reason.

Note that inspections are much more important when buying a single or multifamily house where you're responsible for the entire structure. In that case, the inspector may very well find issues which you wouldn't have found yourself, and some of these issues can be structural and quite serious. In these cases, if the seller doesn't want to budge, then it may well make sense to just back out of the deal.
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https://www.hauseit.com'>https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit (https://hauseit.com). Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 4948258 | https://www.hauseit.com'>https://www.hauseit.com
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