Need Advice for FSBO on amndmnt reequest

[Mary Jones]

I entered into a contract to sell my house by owner and the buyers wanted their agent fees and closing costs, to which I agreed. Following an inspection, they have asked for repairs which I do not intend to do. I need advice as to whether I just fail to respond to the amendment request or do I request the buyer to accept the home "as is"? I do not have any forms for making the request. Is there a good source for these? I have had a lot of interest and verbal offers since accepting this offer and have no concerns that I could sell my house without this contract. I would appreciate any advice from the professionals and appreciate it in advance.

[sdhomes]

First make sure you have a copy of the inspection. Then respond in writing that you will not make any repairs. It is then up to the buyer whether or not they want to proceed.

Be aware that you now have to disclose these issues to the next buyer. Make a copy of the inspection report and give it to the next buyer with your other disclosures and inform them that while they are entitled to conduct their own inspection, you are not willing to do any repairs.

If you do decide to negotiate on repairs, try to settle on a dollar amount credit to the buyer in lieu of repairs. That would help to reduce any liability associated with the scope/quality/warranty issues of the repairs.

[Mary Jones]

Do I need a specific form to reply? If so, can you suggest where I can obtain one? I am in Georgia. Thanks, so much, Bob

[Sam Dodd]

I think you need a realtor or an attorney. But anyways you can look on your state division of realtors page for the blank addendum form. Also if the buyer is requesting repaired based on the inspection depending on the contract he should be entitled to his earnest money back if you refuse.

[Sam Dodd]

In other words you need to consider if it is worth losing the sale of the house over the cost of the repairs as he can legally back out of the contract if you refuse to do the repairs.

[Ryan Ward]

I'm in Georgia and technically you do not need to use any particular form. What contracts are your offer on? I am however, not a lawyer and I have not seen your contract so take this advice with caution. What you want to make sure of is that your contract has what is called "mutuality", meaning, that all parties involved agree. You would word it something like this in your counteroffer for their request for repairs "all parties agree that seller will make no repairs". This helps to clarify that everyone is in agreement.

[Ethan Hall]

I think it is too tough to call without seeing your contracts.

I can suggest that you might find a Realtor to review your paperwork and get your deal closed with it costing you too much. I do these for FSBOs from time to time for a flat fee. I do not charge a percentage since I am not really spending any money to advertise the house or anything. You may find someone in your area willing to do this.

Hope this helps.

[Dan Connolly]

The GAR (Georgia Association of Realtors) does not make their forms available to the general public.

I think your best bet if you want to do this without a realtor is to get a real estate attorney to handle it. In Atlanta they will typically close the transaction for something in the neighborhood of $450 for their fee $150 for the title search, (+minor fees for recording the deed and overnighting your payoff if you are paying off a mortgage). Also, the seller pays $1/$1000 for state transfer tax.

If they are handling closing, they typically charge $50-$75 each to prepare extra documents (power of attorney or inspection docs etc.). If you are in the Atlanta area I would be happy to recommend some good Real Estate Attorneys.

[Saodavi]

If you're not going to do any repairs, don't bother asking for the Inspection Report. Then you won't have to disclose it to future prospective buyers.

Requests for repairs are common ... especially if they are related to safety or are required by lenders. Leaky roofs, leaky gas/water pipes, unsafe electrical or structural issues will probably have to be repaired regardless. I'd recommend repairing things if the costs are reasonable (under $1000). It beats carrying the house for another month or two ... or three.

Besides, you're already saving money by not hiring a Realtor. Don't get to greedy or you'll lose whatever savings you thought you were getting (which is typical for FSBO's I might add).

I would encourage you to reply to the offer so the Buyer's don't think you're incompetent or unreasonable or a jerk. At the very least say, "I appreciate their offer but the agreed upon price is as low as I am willing to go. If you would like repairs to be made, we can add them to the price of the home and they will be completed prior to closing." Something like that would probably get the job done. Of course you'll need a Realtor or an RE Attorney to help you firm up the verbiage and structure the deal according to your states laws and the lender's guidelines.

[sdhomes]

If you're not going to do any repairs, don't bother asking for the Inspection Report. Then you won't have to disclose it to future prospective buyers.

Bad advice.

Once specific repairs have been brought up, a first year attorney could make the case that these are now material facts that should be disclosed.

When in doubt, disclose.

Take Dan's advice and spend the $500 for an attorney. You will sleep better.