Tuesday, February 25, 2020

Request for Repairs & The Sellers Market

Whenever I'm working with buyers or sellers I remind them that the Request for Repairs in the California Association of Realtors purchase agreement is never a 'wish-list'.

If the tile is chipped, don't ask for a repair. If the carpet is ugly, nope, don't even think about it. If the fireplace is defective, ask. If there are electrical issues, ask. That leaky faucet, sure ask on that too. Nasty, old Air Conditioner? But, it still works, nope, that's what your home warranty is for.

As a reminder, the biggest things to focus on are Fire, Safety, Health.

Now, with that said....keep in mind, we are totally in a Seller's market. Multiple offers, properties shooting of the shelves within days, not weeks or months (Yes, a few years ago, it took months to get a home sold - enjoy this market Sellers!).



Also, a little known fact....very rarely have I seen this happen....a Seller doesn't even have to respond to your Request for Repairs. Yup, can ignore it completely and still insist on Contingency Removal for investigations.

Go back a bit.....all property is sold AS-IS in Cali. Yes, but, all buyers have a right to do inspections. And, they have a right to ask the sellers to do repairs, give credits, etc. 

Sellers Market & Request for Repairs. Don't expect miracles. That Seller knows that they can go without any repairs and the Buyer will likely accept as there are a ton of buyers scrambling for homes right now. On the flip side, a property that was over-priced and took over a week to sell (yes, that's long right now), that Seller may be more likely to consider a reasonable Request for Repairs as they just want to be done, they want to close escrow and move on.

I'm in the middle of both of these situations right now.....we shall see how they pan out....

For more info or if you just want to chat Real Estate, holler! 
I absolutely love sharing knowledge!
~ Lauren@KeepYourWitz.com ~ (661) 313-5470 ~

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