What are the price limits to damages or fixes after home inspection?

[Anonymous]

So after the inspection let's say they said to fix "whatever" will cost me 1000.00.   Do I try to get them to fix it or reduce the cost of the (bank owned) house or because the price is not that bad to repair do I just go ahead and pay out of pocket?

So what I am getting at is at what price range do I begin to have my realtor negotiate with the bank or seller to pay for the fixes etc? 

note: First time home buyer

Thank you

[Anonymous]

I think that you also have to consider what repairs are needed. For example, is it a leaky roof, a faulty wire, or a broken window?

[Anonymous]

I see freudandbeck .  I have not had the inspection yet.   its later on today.  Thank you for your prompt response.  

[Lel]

There's no "right" number at which you could/should start to negotiate repairs paid by the seller or price concessions so that you can pay for the repairs.  I assume that when you wrote your purchase contract, you included an inspection contingency.  So, you can use this contingency to negotiate the price or repairs before closing.  Just be aware that the seller isn't compelled to agree to whatever you request, and he can cancel the contract if he/she feels that the buyer's demands are too much.  By the same token, with a correctly written contingency on your part, you can walk away from the contract, with the return of your earnest money, if the deficiencies are too much.

[Anonymous]

 I am in the final stages of buying a bank home property. When, we had our inspection done, many issues came up. major things like a broken pipe coming leaking into the walls and down into the kitchen light fixture, down to closet doors being off track. ( they note EVERYTHING, or so it seems). They also said a picture window should be replaced, a couple of other things. The one thing we asked the bank to fix was the leak. and they agreed and had it fixed. According to our realtor it was in their best interest, because we were a full price offer. Also, after our FHA appraisal, we found we needed a new garage roof, and today they are having that done as well. I would ask for major things to be done. It doesn't hurt to ask. Things that we had in our report such as hedges needed trimming, a light switch cover, those can be done later. I guess the bottom line  is , you need to decide what you can live with as far as fixing on your own.