Requesting a price reduction for surprise defects

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Q: Can I subtract from the offer I've made on a home if the home inspection shows there are some big problems, or do I automatically have to cancel the deal altogether? --Richard N. A: When it comes to inspection revelations, "big" is relative, but, like beauty, it's in the eye of the beholder. By that I mean that if you think that a condition problem is too big for you to buy the home on the agreed-upon terms, then it is. But it sounds like you're at least willing to consider taking the home anyway, assuming you can get a price reduction. In your situation, deciding that you don't want to take on the condition problems surfaced in inspections without a discount doesn't necessarily have to be a deal-killer. Here are the factors that ultimately determine whether an inspection-based price reduction request will kill your deal: 1. The contract. Did you agree to an as-is sale? If so, be aware that "as is" doesn't bind you to buying the place, but it is an expression t...