By admin1
3. Requesting that you leave certain items with the home
When a buyer makes an offer on a house, it’s usually for the home itself, not the items inside — unless you’re selling the property fully furnished. But sometimes, buyers may try to negotiate for specific items to be included in the sale, whether it’s appliances, furniture, or even outdoor features.
It’s a common negotiation tactic, and one that can catch sellers off guard if they’re not prepared to decide what stays and what goes.
Stays with the house
“Legally, anything that is permanently attached to the property is considered a fixture and is generally included in a home sale,” says David Reischer, a New York attorney specializing in real estate, mortgages, taxes, and estate planning. “However, state laws can vary as to what is — and what is not — included in the sale, so be sure to be explicit.”
When Samuel sells properties in his area, he generally expects to sell everything attached to the house as part of the deal. Items that are built-in and immovable are considered part of the “real property” and should remain after the seller vacates. Some examples include custom window treatments, built-in hot tubs, cabinets, and curtain rods.
Must-go items
Non-fixed items like movable furniture, curtains, lamps, and wall art are typically considered personal property and are not included in the sale of the home. These items are not permanently attached to the property, so they generally remain with the seller unless specifically negotiated otherwise.
Gray-area items
Semi-attached items, such as swingsets, light fixtures, outdoor fountains, wall-mounted decor, and above-ground pools, aren’t so clear-cut and should be spelled out in the contract.
Appliances like the fridge, oven, dishwasher, and washer and dryer usually stay because they’re a hassle to move, but the buyer may request them in the contract to be sure.
“I always recommend a seller not simply give away an appliance, even if they don’t want to move it when they leave,” Kurzner says. “If a buyer asks for appliances to stay, that means they see value in them and need them. The seller can often get some or reasonable value by countering such a request with a price.”
How to respond to inclusion/exclusion requests in a sale
If a buyer asks to include an item in the contract, you generally have four choices:
- Grant the request
- Refuse the request
- Grant the request, but raise the house price
- Refuse the request, but offer some sort of credit or price concession to make up for it
The decision to include an item in the sale should be driven by its value to you, whether financially or sentimentally. If an item is large or difficult to move, like a swing set or trampoline, Nelson’s clients often agree to leave it behind. It allows the buyer to feel like they’ve gained something extra while sparing the seller the trouble and cost of moving it. This approach can help close the deal with minimal hassle, offering a small “win” for the buyer without much inconvenience for the seller.
And in some cases, the law will dictate how you respond: “A seller should find out whether the law views something as a fixture or not to determine whether the item needs to be included or possibly negotiated into the larger transaction for a higher price,” Reischer says. Check with your real estate agent or a local real estate attorney to clarify the rules in your area.
4. Asking for a price reduction or credit for repairs
The inspection period is another big opportunity for buyers to negotiate with you. Even in a hot seller’s market, this stage of the game often sparks negotiations — and if the buyer was generous with the offer price, this is an opportunity for them to recoup some money. If the inspection brings to light water damage in the basement or a faulty HVAC system, for example, they may ask for some concessions to cover those costs.
In markets with high demand, “buyers are writing offers purely based on emotion, sometimes even before going through the property,” Nelson says.
“Maybe they’ve paid list price, or even higher than list price, and they feel like they want to get a win during the inspection process, whether that’s by asking for a price reduction, several repairs, or a closing credit to cover those repairs.”
Kurzner is seeing this happen a lot in his area, too — particularly because it’s a seller’s market, where buyers can’t negotiate as much on price. “Because many markets are very tight on inventory and homes are having multiple offers presented within hours of listing, buyers are offering top dollar to get under contract, and then trying to negotiate some more after they complete an inspection,” he says.
How to respond to price reduction or repair credit requests
If the buyer is requesting concessions on costly, major items — such as the roof, HVAC, furnace, or other mechanicals — and it’s clear that those items are nearing the end of their life, it would be difficult to refuse those. “If the seller refuses a concession and the deal falls through, it’s very likely the next buyer will ask for the same thing,” says Eric Hughes, founder and CEO of Rental Income Advisors.
On the other hand, he notes, some buyers may try to “nickel and dime” the seller by requesting concessions for smaller cosmetic repairs, such as paint, small carpentry fixes, gutter-cleaning, patching nail holes, and other items that don’t affect the value of the home. For those types of requests, you can usually stand firm.
“Buyers will sometimes request that a seller patch holes and marks caused by pictures, paintings and wall art,” Kurzner says. “This is — on the surface — no big deal, but rarely ever can you effectively patch and paint these holes without having to repaint the whole wall. I recommend never agreeing to touch up holes in walls.”
Samuel agrees. “When negotiating repairs or upgrades, we will agree to make any legitimate defect found that is a safety issue, but will not perform additional cosmetic upgrades or improvements without re-negotiating the price.”
If you don’t want to spend upfront money on making home repairs, another option would be to offer a home warranty to give some measure of protection to the buyer after closing, or offer to reduce the price instead of waiting for a lengthy repair to be completed.
