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Updated almost 8 years ago on . Most recent reply
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Can repair costs be taken off the sales price?
Hi,
I currently have a rental property under contract that I'm selling. We decided to offer cash instead of doing the repairs that came up in the home inspection report. Instead of giving the buyer a check at closing we would like to lower the overall sales price. This will lower the capital gains tax and agent commission costs and save the buyer money.
However our agent is saying that it's not possible and that we need to give them a check at closing.
My question is, can the repair request be countered with an offer for cash to come off the sales price? If so how should the wording look?
Thanks in advance for any help.