North Carolina, LOU, Lockwood discussed on Savvy Realtor


Have seen fifteen thousand dollars of maybe monies, and Lou of repairs or you know, that amount of estimates of repairs being negotiated during the due-diligence period. So there's not a set dollar amount. I think the biggest thing to remember tad is that if there's any type of major problems if the seller doesn't fix those items for you, you know, they will need to fix them for the next person. You know, say for example, there's a plumbing leak. Okay, you're not going to be okay with it. And the next buyer would not be okay with that. So sellers can put up a fight on not fixing those items for you. But I bet she they're not going to have Lockwood selling their home to the very next person. Also, anytime there's anything like plumbing leaks, electrical issues, maybe the h back is broken those are material facts, and it's required that the. Seller disclosed and especially the agent that is now listing the property discloses any type of material facts that they are aware of. So it's not like, you know on your inspection report. Maybe you know, we find out there's a broken H back that you terminate they released the home, and they can hide it that the h back is broken. Right. That's against the law. Great scheme. You just can't. Due-diligence money. Right. Exactly. So don't be so concerned about that. Because once again, you know, you have a little bit of pull they are. Because if they don't fix it for you. They would have to fix it for the next person and end goal, of course, in someone's selling your home is to get it sold as well. Just like, I know you wanna buy it. So keep that in mind when it comes to negotiation of repairs, North Carolina board of ethics real tours. That was a joke just to be. Not suggesting anybody's scheme the system in that mayor some out there. But you know, I understand that. That's a big concern tad personal experience have gone through something very similar both on the buy and the sell side. And it's always a kind of overwhelming to go through that process because there really isn't a great rule of thumb, right? I mean, there's not a two percent of the purchase price or something. Like that. There's nothing like that that exists. It's going to be different for every home. Very true. And remember that the North Carolina offer to purchase does read that the homes being sold as is. So it is. So it has is with the seller to make no repairs, but there's typically this understanding that but buyer and seller will be reasonable when it comes to negotiations. And so once again, if major things pop up on the inspection report, you know, a seller will need to fix those for any buyer in order to get them to move forward. So just keep that in mind. So you're not as nervous and so cautious with moving forward and through that process. Tattoo. Sounds like maybe you are at the beginning stops of purchasing a home here in our market. If you are thinking about buying a home, and you want to understand the steps from start to finish all the different contract terminology,.

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