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What to we do with an amendment requesting repairs?

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In your contract, paragraph 23 gives the buyer the right to end the contract for any reason. Usually for 7-10 days. We call this the time the “Option Period”.

During this time the buyer inspects the home to determine if the condition is acceptable. The buyer’s choice is to end the contract and get their earnest money back, take the house as-is, or negotiate.

Photo by Mark Florence

A negotiation begins with a contract amendment sent from the buyer’s agent. Usually, a list of repairs for the seller to complete before closing. Sometimes, it is a few little things or sometimes it is a big list. Rarely, is the home accepted as-is without negotiating. All houses have some problems. The seller does not have a duty to do any repairs.

Seller’s options are (1) do the work as requested, (2) offer money, (3) refuse to do some or all it, or (4) some combination. The amount of money is the consideration of the cost to get the work done. If you offer money, offer it first in the form of a reduced price to further protect the appraisal value. Second, as a payment towards buyer closing costs. Buyers option is agree or terminate.

Sometimes it’s a tough negotiation. Usually, an agreement must take place for the contract to continue. If buyer doesn’t terminate before the deadline, the unrestricted right ends. Buyer and seller must consider their options to establish their negotiating position. Repairs made by the seller are made in accordance with Paragraph 7.

Notice: This website contains general information about legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional services provider.