We are selling step dad's house. We have acceted an offer 10% less than the asking price and about equal to the appraised value.
Next comes the inspection. We are selling "as is" but the buyer can cancel or negotiate based on the inspection results.
The septic is not new but is not showing signs of failing.
If something comes up with the septic, I am thinking to offer to reduce by half or two thirds of the repair price. My logic is that if we redo the septic the value of the house with a brand new septic has to go up by at least a third of the cost.
Does that make sense?
I figure any of the other problems are obvious and should have been accounted for in the original offer.
Next comes the inspection. We are selling "as is" but the buyer can cancel or negotiate based on the inspection results.
The septic is not new but is not showing signs of failing.
If something comes up with the septic, I am thinking to offer to reduce by half or two thirds of the repair price. My logic is that if we redo the septic the value of the house with a brand new septic has to go up by at least a third of the cost.
Does that make sense?
I figure any of the other problems are obvious and should have been accounted for in the original offer.