What
are Unacceptable Conditions when Selling Kansas City Homes?
Unacceptable conditions in the Kansas City homes market
are those discovered during a home inspection and/or an appraisal. Inspectors and appraisers inevitably find “unacceptable
conditions,” even when inspecting brand-new homes in Kansas City. They are par for the course.
The Residential Estate Sale Contract used by the Kansas
City Regional Association of Realtors defines an “unacceptable condition” as
any condition identified in the written inspection report prepared by an
independent qualified inspector of the buyer's choice.
After the unacceptable conditions are delineated, the
buyer has a few options. The buyer may
accept the desired Kansas City real estate in "as is" condition. The buyer can also decide to cancel the
contract. Most Kansas City homebuyers
take a middle route. They offer to
renegotiate the contract. In modern times, most
negotiations are based on a sort of goodwill.
Sellers try hard to sell the home in good order and buyers understand
that real property is composed of thousands of elements that could be
perfected.
How do the parties negotiate the repairs? Some contracts limit the dollar amount for
repairs of unacceptable conditions.
However, many a closing has been postponed or canceled because this
limited dollar amount is based on estimates.
Estimates are notoriously too low when compared to the actual charges.
The seller has a certain number of days (usually five)
after he/she receives the buyers offer to renegotiate a resolution for
unacceptable conditions. If the allotted
time passes and a new agreement has not been reached by the buyer and seller,
or the buyer has not communicated a written willingness to accept the property
"as is," then either party may cancel the contract by written notice
after the renegotiation period expires. Review
your contract for specific terms and details.
In conclusion, unacceptable conditions may not be
unacceptable at all to a buyer who earnestly wants or needs to close the deal
in a timely manner. On the other hand, depending
on the severity of the problems outlined by the inspector and/or appraiser, unacceptable
conditions may be a deal breaker.
Also see our article entitled, "How Pre-Listing Home
Inspections Benefit Sellers in Kansas City."
Shelly O'Boynick
Realtor, Broker Associate
RE/MAX Realty Suburban
12701 W. 87th Street
Shawnee Mission, KS 66215
www.ShellyOBoynick.com
cell-816.830.3370
email ShellySellsRealEstate@gmail.com
Shelly O'Boynick
Realtor, Broker Associate
RE/MAX Realty Suburban
12701 W. 87th Street
Shawnee Mission, KS 66215
www.ShellyOBoynick.com
cell-816.830.3370
email ShellySellsRealEstate@gmail.com
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