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On Compromises and Concessions

Compromises and concessions are just as much a part of the negotiation game as is the price.

A buyer may seek concessions during a purchase if something is found to be an obstacle that may hinder the closing of the deal. Some examples may include repairs to the home, or even the purchase, repairs, or money toward appliances.

However, some requests for concessions may end in just a simple compromise. A seller may offer a dollar amount instead of a repair, or offer to put money toward moving costs instead of the purchase of a new appliance, like a drying machine, for instance.

There are times when buyers need to know just what is considered a viable request, too.

I once had a client ask for reasonable concessions related to appliances in the home, but then they took it a step further and began asking for containers of spackle, buckets of paint, and yes, even light bulbs. I had to remind them that spackle, paint, and light bulbs didn’t jeopardize or endanger their living in the home and frankly, the only thing that would jeopardize is the entire purchase.

To be clear, concessions aren’t meant for a buyer (or seller) to go on a shopping spree at The Home Depot. The point is to make the house livable, functional, or to pass inspection. This isn’t your opportunity go on a shopping frenzy but instead, it’s your opportunity to close out a purchase without reservation.