October 25, 2019
The Home Inspection is complete, but the contract is now at a standstill. Because until the Buyer signs off or requests are made, negotiated and agreed to – you don’t actually have a “done deal” during the time between the Inspection and that signing off period.
It’s the day after the inspection. Anxiety levels are running high on both sides of the aisle. The buyers and their agent are waiting on the report, and the sellers and their agent are hoping they don’t hear much.
This isn’t just a time of nail-biting for the seller, but the buyer has to sift through a bunch of disclaimers, photos, explanations and fine print of a large document that doesn’t come with very clear instructions and even less understandable language in some cases.
Just exactly what does “5-10 year expectant life” mean? Why can’t the Inspector just say plainly, “roof is in good shape and should last another xx years, barring any unforeseen weather or other mishaps”?
Many inspection reports leave a buyer uncertain of what to ask a seller to do or fix or change a sales price or what….?
When it comes to the Final Home Inspection Report there is no standard response to follow. There are so many variables to consider as to what happens next!
- What has been pre-determined in the contract already – price, terms and concessions
- What are the expectations of the buyer concerning the condition of the home?
- How the experience of the agents involved impact the decisions moving forward
- What is customary for the current market conditions?
General guidelines can certainly help to move your transaction toward a successful closing. Start by reviewing the report carefully, soliciting the counsel of your agent to answer questions you have about what it means and how it affects you.
What is negotiable and what is non-negotiable
What are you willing to tackle yourself and what you will ask the seller to do
Set realistic expectations and negotiate in good faith. Now is not the time for emotional decisions or knee jerk reactions. Most sellers are prepared for the possibility of repairs and will usually be reasonable as well.
Not every recommendation the Inspector makes is necessarily a “repair” item that must be completed. For those items that are definitely of concern, express what you’d like to have happen and let your local marketing specialist work on your behalf to bring you to a successful close of your house sale.
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