I have just had a conversation with a purchaser who, whilst thankful that they now know after reading my pre purchase building inspection report what is wrong with the house they would like to buy, they feel the Vendor should fix the issues noted in the report.

So now you know what you need to know and you want to buy the home. If you don’t, walk away. Money well spent.

That means its time to get back to the seller. You have three choices. You can cool off, you can seek to negotiate on the asking price as a means of paying (at least in part) for rectification of the defects, or you can accept the house as it is (warts and all).

Cooling off is final and you can move onto the next house. If you do this be discerning about what house you look for as houses of similar age, geography and/or architecture are likely to have similar faults.

Accepting the house as it is means planning now for your maintenance program to commence as soon as you move in. Actually you should be doing this any way.

You can negotiate a new price with the seller. Do not however expect the seller to respond favourably. Lets face it the seller probably thinks their home is perfect. Whether they knew the defect existed or not they lived with it, possibly for many years. While some sellers will respond favourably and will even fix reported defects, more than likely they will not respond in your favour simply because you have a report.

The seller has a decision to make as to how to respond, whether to ignore your observations, to offer to have some or all defects corrected or to accept a reduced sale price. They don’t have any obligation to respond in your favour so you need to consider carefully how you go about this.

My recommendation when negotiating with the seller is to be fair and to treat the seller with respect. Chances are, if you are buying a home you area also selling (unless you are a first home buyer), meaning the roles will be reversed when you negotiate the sale of your home. If the deal you got is a good deal, don’t beat the poor seller up any more, accept it.