Re-negotiate after Home Inpection

[Howie NA]

How many of you re-negotiate after a home inspection. Assuming there is something wrong with the furnace, air conditioner, little water damage or so on. What does everyone do? Drop the deal or get compensated in money?

[Jon Holdman]

Sorry but I must disagree because I've done it. Even on an as-is property, you can renegotiate, and banks will adjust their prices. You probably won't get much adjustment by complaining about things that were obvious from a casual walk-through. But if the inspector finds something hidden, you can certainly bring it up. Maybe they will refuse, in which case you can walk away or you can pay the previous price. If the bank cancels the offer because you asked for a price adjustment (I've never seen one actually do a "repair credit"), then who cares. Next!