Short Sale Differences – Negotiating Repairs
Similar to when purchasing a foreclosed property, the seller will likely not be in a position to pay for, or make repairs on, the property, as they are usually broke at this point. That doesn’t mean that you can’t try to negotiate repairs into the deal after your inspection, but you should be prepared for the seller to not be able to make any repairs to the house. As long as you know this going into the deal, your expectations will be appropriately set, and anything you and your agent can negotiate in, by ways of repairs or money for repairs will be a bonus. Expect short sales to be “As-Is” transactions though. Your inspection is meant to determine if there are any deal breakers with the condition of the home.