Credit: Flicker

In an uber-competitively paced real estate market negotiations are often extremely limited. But good news for Central Oregon buyers … we are no longer in 2021 conditions! While we may not truly be in a “buyer’s market,” most sellers are actually quite willing to negotiate and you can (and should!) use your agent to do the heavy lifting.

One of the most common inspection items that is coming up in Central Oregon this fall is roof life and insurability. Yes, this is a serious issue! You need insurance and if an insurer is saying they won’t cover the current roof…this is prime negotiating material. Recently, one of my listings had a buyer back out for this reason. We knew the roof was original and it might come up during negotiations, but what surprised me was that the buyer and their agent chose not to even ASK if my seller would pay for it before backing out. And the truth? Seller was willing to cover the entire quoted $13k. Not only that, the roofer agreed that they would allow payment out of escrow — this means no cash from anyone, they would be paid when the sale closes. In other words, the roof would be brand new and installed before the buyer’s insurance even kicked in, and the buyer wouldn’t have had to pay anything. Talk about a missed opportunity for that buyer!

I also always counsel buyers to ask for any inspection items that are related to electrical or plumbing. These are viewed as safety items and can often get repaired/replaced during negotiations. A client who purchased in SW Bend this summer was able to get the seller to cover over $12,000 to replace the sewer line when a sewer scope inspection revealed a sag and blockage. While it was a large ask and carried some risk, there would also be risk on the side of the seller to say no. Once a situation is discovered, sellers are now liable to disclose that information to future buyers. So rather than risk losing the buyer they already have…many sellers are willing to say yes, or at the very least, compromise.

Ultimately, remember that the worst that can happen is a seller says no. If that happens, the buyer is free to decide if they’d rather walk away, negotiate further, or deal with the problem themselves. In my experience, negotiation is always worth the time and effort — for both parties.

On the seller’s side, negotiations don’t have to be scary either. I highly recommend that sellers tackle any concerns before listing — most will pay less to have items completed ahead of time than they will in buyer-requested concessions. Plus, attention to detail shows buyers that the home has been well cared for and they will be less likely to feel the need to negotiate at all. Whether buying or selling, find an agent you trust to guide you through the process who also understands the art of negotiation!

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