Dear Michael: We are in escrow on a home and requesting a credit from the seller for repairs. The seller is losing money on this sale. Should we take this into consideration when we request a dollar amount?
Answer: The fact that the seller is losing money has nothing to do with you or your request. It probably means that the seller will be stingier with crediting you any type of request.
If the seller owes more than what the property is worth, the seller may only have limited funds. If this is the case, you may be out of luck. Give your request a try. You have nothing to lose. When you are requesting your credit, ask the seller for what would be considered a reasonable request. Be fair in your request. Don’t worry about the seller’s losses. If your seller has common sense, he/she will negotiate with you. The seller will have to realize that the next buyer may request the same repairs or even additional credit for repairs.
Michael Kayem is a Realtor with Re/max Execs, serving Culver City and the Westside since 2001. Contact him at (310) 390-3337 or homes@agentmichael.com.
