Home Buying Process
- My Commitment to You
- Pre-Approval
- Pre-Approve Yourself
- What Does My Monthly Payment Pay For?
- Types of Loans
- Preparing Yourself
- Earnest Money
- Down Payment
- Closing Costs
- Insurance
- Finding What You Want
- Finding What You Need
- Making an Offer
- Counteroffer
- Inspections
- Re-Negotiation
- Final Walk-Through
- Closing
- Change of Address
Re-Negotiation
After all desired inspections have taken place, the seller will obtain estimates for those repairs, and if you or the seller determine that those repairs are in excess of the agreed upon amount, either party has the option of canceling the contract or re-negotiating the terms. If the estimates are within the amount that the buyer and seller had agreed upon in the contract, then the seller is obligated to perform those repairs.