Lenders and Buyer Discounts

Things turn up during home inspections and they can lead to buyer discounts. Let’s say the home inspection turns up the fact a new roof is needed. Instead of the seller getting a new price, they will often discount the sales price by an amount equivalent to the replacement cost. This is perfectly legal, but keep in mind lenders might not go along with the approach. The lender may require replacement prior to giving the loan to protect their security interest. If a discount situation arises, make sure the lender signs off on it.