Here is some daily commentary provided by The Cromford Report dated June 7th.
Jun 7, 2025 - Some buyers are now flexing their negotiation muscles by asking for remodeling instead of repairs. In most cases, these do not show up in concessions because the cost of the remodel are included in the agreed sales price.
Listing agents have told us buyers have asked for...
1. The interior to be completely re-painted (a $5,000-$7,000 cost)
2. All windows to be replaced because they are old single pane
3. All windows to be tinted along with a specific contractor and price
4. New roof even when the current older roof isn't leaking
5. New A/C when the current older one is working
6. Bathroom to be remodeled
7. Closet to be re-framed because it was not perfectly rectangular
If you only have one interested buyer and are highly motivated to sell, it can be hard to resist agreeing to such requests. If the cost is to be added to the sale price then you could argue that it costs the seller nothing, as long as the deal goes through.
For the buyer, these requests are a way to finance their remodel without having to blow through their cash. This activity also keeps the recorded sales price elevated as long as the appraisal comes in.
In a market like this, the effect is to increase the apparent strength of sales prices. If this becomes widespread, it can even increase prices when the underlying value of the housing stock is depreciating.
The home that is being purchased is in effect newer and nicer than the one that was advertised - meaning that a higher percentage of list is achieved.
The practice is eventually limited by appraisals and appraisers are increasingly noting in reports that home prices are in a declining trend.
