Guaranteeing Repair Expenses to Seller

[Sean Dezoysa]

Hi; I am noticing that sellers are often upset about my estimate on repairs. I don't try to make extra money by overquoting repair expenses so I'm thinking of offering the seller an agreement where I double the repair estimate for the sale (buying at an even bigger discount) and then pay back the difference after repairs have been done. All contractors will be paid by check and sign a document stating their prices to me.

Has anyone used a similar agreement? How did it it work for you, both at the negotiation table and after the rehab?