http://www.searchreslt.com/sale-price/
What is negotiable after a sale price has been agreed upon?
Both parties have agreed to the inital sale price. A home inspection has occurred. The buyer is now asking for an additional reduction in the price.
If the inspection uncovered something which the buyer did not know about, then they could try to negotiate to have the condition repaired or to have a price reduction as a result. However, note that the buyer could not back out of the transaction because of minor problems, only a real serious issue could release them from the purchase contract (I would need more info on what is at issue in your case to address it directly). I had a similar situation with an investment condo I sold. I never lived in the place, so I didn't know there were any problems. The inspection revealed that the AC wasn't blowing cold air. The buyer requested that a new unit be installed. I responded that the place was being sold "as is" and the buyer knew that it had an old AC unit, but in all fairness, I gave him $150 to have the AC serviced. Note that I didn't agree to have it serviced before settlement, because if the service tech told me it had to be replaced the unit I wouldn't want to deal with it.
Larkmart – Sale Price
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