Andrew Wetzel's Musings

September 14, 2016

Inspection Problems That Can’t Be Ignored

Filed under: Uncategorized — awetzel @ 2:43 PM

From Realtor magazine:  http://realtormag.realtor.org/daily-news/2016/08/17/3-inspection-problems-buyers-shouldn-t-ignore#disqus_thread

The property inspection is one of the major reasons sales fall through.  Some buyers simply decide to terminate a sale; some demand unreasonable repairs be made which forces a seller to decline (whether due to finances or frustration matters not) some or all resulting in termination by the buyer.  It is an emotional “event”:  how does the house compare NOW to what the buyer expected when they made their offer?  What has the inspector found that is a true “material defect” as compared to “normal wear and tear”?

Unrealistic buyers need to consider what they have already invested in time and expense to get to that point while seriously evaluating their alternatives (this was the BEST house, wasn’t it?  Repairs aside, what else motivated them to choose THIS ONE?).  Sellers must also realize that a better offer with fewer repair requests may not await them.  What is their ultimate co$t for not selling at this time?  “The devil you know” is facing you.

Should a sale fail, the seller has a responsibility to do more than assume the bad report just an “opinion” of a bad inspector.  They may need to address some of the deficiencies to protect themselves or to avoid compounding the problem later and, frankly, they need to provide the report to future prospects.  I am not an attorney and respectfully encourage anyone who doubts my opinion to talk to a one.  Post-settlement disputes arising out of what a seller “knew or should have known” can be serious and a Realtor cannot keep confidential what contradicts the law.

HIRE WISELY!

 

 

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