by Paula Swayne | Oct 14, 2011 | Income property, negotiating
As we all acknowledge, emotions run high during the search for a home, the negotiations that must take place and the hurdles we must jump. As a result, many times the events that take place are very personal. Sometimes we need to be reminded that, while the relationships are personal, the decisions are not.This post was inspired by an escrow my client is in. The property is a 5 unit income property. The owner is a Realtor, but has a fellow Realtor listing the property. For all intents and purposes, the owner is the listing agent since I have only spoken to the listing agent twice.The structure is sound, but there is quite a bit of deferred maintenance. Leaking faucets, furnaces unable to be lit, so testing not possible, window latches broken, air conditioning units not functioning are just a few of the major issues. My buyer and I wrote a Request for Repairs, only asking for the property to be in functioning order…no cosmetics. Only an hour after sending the request, I received an angry call from the owner. “I am very upset. In fact, I need to call you back after I get over my upsetness” (yes..he did say “upsetness”. That was 2 days ago and I haven’t heard back. I am meeting him this morning to get inspections on the plumbing, heaters and windows. Needless to say, I am not looking forward to it.This was not an “as is” sale. Asking for an income property to be in working order is not a personal affront. In Sacramento, we have city inspections of rental properties. I just...