Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
4,118,913
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've never negotiated a price adjustment for any contract except subject to a low appraisal. Inspection issues are negotiated for repair or credit for repair via closing cost credit.

Aug 28, 2018 03:43 AM
Rainmaker
1,922,214
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

The only negotiation that takes place after a home inspection is to get repairs done. 

Aug 28, 2018 06:06 AM
Rainmaker
1,723,245
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

I don't practice that tactic. Just because things turn up on an inspection doesn't mean it changes the price. 

Aug 28, 2018 04:51 AM
Ambassador
5,409,720
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I mostly deal with listings, and feel that renegotiating after the deal is struck to be dishonest so when they approach me with these proposals I like to just say NO.

Aug 28, 2018 06:00 AM
Rainmaker
4,044,560
Richard Weeks
Dallas, TX
REALTOR®, Broker

For the life of me I can't remember.

Aug 28, 2018 04:17 AM
Rainmaker
1,596,606
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Not much, most of our contracts AS IS. And we are condo people.

Aug 28, 2018 09:50 AM
Rainmaker
1,153,825
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

$2K from the banker. He called oh shit, I signed in the wrong place. We never make concessions.

Aug 28, 2018 09:24 AM
Ambassador
3,056,627
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

A $10,000 chimney rebuild - failure to disclose. 

Many others ... all related to discoveries of seller's failure to disclose. Some resulted in repairs and others in price adjustments. 

 

Aug 28, 2018 08:24 AM
Rainmaker
1,231,112
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

$60,000 if memory serves. I had a second that year of $40,000, both were short-sales and it was in 2008, before the banks organized.

Aug 28, 2018 07:17 AM
Ambassador
2,571,097
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    $35K.

     I was listing agent for a 1960's off-grade house.  Inspector found rotting interior studs behind the bathroom walls, and rotting floor joists under said bathrooms.  My seller agreed to lower the price by the $35K repair costs.  Buyer got an FHA 203(k) loan.

Aug 28, 2018 06:58 AM
Rainmaker
1,737,065
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I don't know the amount but it was for foundational work... very expensive.  The buyer got quotes, we adjusted the price and closed.  Buyers had the work done right after closing. 

Aug 28, 2018 06:49 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Nothing lately, but have gone as high as $50,000 in the past.  (Foundation and roof issues.)

Aug 28, 2018 06:32 AM
Rainmaker
1,639,986
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

After 30 years of this, can't say I can remember...Let me take a nap and I'll get back to you on this.Zzzzzzzz

Aug 28, 2018 05:33 AM
Ambassador
4,258,081
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I typically negotiate the repairs to have the seller pay the contractor at Closing or as a seller-paid Closing cost credit.

Aug 28, 2018 04:56 AM
Rainmaker
5,588,721
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

Does it matter all that much?  

Aug 28, 2018 04:43 AM
Rainmaker
1,109,545
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

On a multi-million dollar home success arrived at 16.8% ($1.7M) for a major structural defect. Fortunately the home closed on time and repair was completed in the off season with the new owners ecstatic upon their return. 

Regarding the Seller's side if I can approach 40 to 50% of what the inspection and estimates reveal that's a great negotiation.

Aug 28, 2018 07:14 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

On one we bought for investment, $15,000.

Aug 28, 2018 06:58 AM
Rainmaker
5,571,923
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

reasonable figures can be adjusted if it's required for a repair....

Aug 28, 2018 06:50 AM
Rainmaker
1,899,943
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I do not remember the dollar amount Praful Thakkar but I'd say I've seen Sellers adjust to the suggested repairs after the Buyer presented BOTH the inspection and corresponding repair estimates. Maybe around $8,000.

Aug 28, 2018 06:46 AM
Rainmaker
542,909
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

100%, Seller had intentionally tried to hide defects and Buyer walked.

Aug 28, 2018 06:28 AM
Rainmaker
2,641,812
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Answer varies as happiness is defined differently each time by the parties

Aug 28, 2018 06:20 AM
Rainmaker
259,017
Lesley Wilson-VanGoethem
Innovative Realty Solutions Group - Winter Springs, FL
Residential Real Estate Broker Associate

Had multiple large potential dealbreakers,
We gave an approx price to repair or replace ( not all were repairable)
Added a home warranty to cover some of the minor issues, but got 15k off between price and seller assist on a 275k home WITH the seller replacing a pool pump before closing and paying for the home warranty,,
It takes both sides to LISTEN and come to terms..

 

Aug 28, 2018 05:54 AM
Rainmaker
4,211,603
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Once involving a cash sale, a serious flaw was accepted by the buyer with a credit for the repair from the seller. Would have never worked with financing involved.

Aug 28, 2018 04:16 AM
Rainmaker
429,905
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

I think mine was $15-$22,000.  The house needed a complete reroute and foundation repairs. I think the reroute alone was around $15,000.  The buyers started having marital problems and now want to sell the house a year later.  

Aug 29, 2018 05:00 AM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

We typically take care of the repairs but had one price adjustement of $2500.

Aug 28, 2018 08:35 PM
Rainmaker
3,985,875
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I do not remember but it was substancial

Aug 28, 2018 03:36 PM
Rainmaker
514,124
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

$22k. Existing roof was only 10 years old but failing.  Buyer wanted to pick the new roof, seller didn't want to mess with it and agreed it was failing.  We did an $11k price change and $11,100 payment to buyers closing cost. 

Aug 28, 2018 02:56 PM
Rainmaker
1,387,378
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Rarely a price adjustment, usually a credit.  Last time was 5k I think.

Aug 28, 2018 01:54 PM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I do not look at inspection as a strategy to ask for price reduction..

Aug 28, 2018 01:52 PM
Rainmaker
911,001
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I don't recall. Mostly, concessions are handled by closing cost credits. Up to 3% of the contract price has been achieved.

Aug 28, 2018 11:30 AM
Rainmaker
6,607,962
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I do not recall a situation like this.

Aug 28, 2018 10:44 AM
Rainmaker
684,765
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

When we have the buyer we usually we push to have the work done, not a price adjustment. Sometimes we have price adjustments post-inspection. It really depends on who's involved, their preferences & the scope of the work. We just had one on the listing end for $7,000 & not long ago we had one in the double-digits.

Aug 29, 2018 09:29 AM
Rainmaker
710,004
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

It all depends on the situation.... seller credits can be negotiated. Never on the contract price.

Aug 29, 2018 07:36 AM
Rainmaker
4,939,881
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I remember one $3k, as the Seller did not want to do repairs, just credit the buyer.

Sep 03, 2018 06:36 AM
Rainmaker
1,219,069
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

$2,000 for a new heater.  Offer price was over asking as it was a competitive market and had an out of area buyer buying.

Aug 29, 2018 12:32 PM