Get a home inspection: Paying for a home
inspection as a seller may seem like a waste of money, since the buyer is required get one before closing.
Knowing how to prepare for a home
inspection as a seller is always an important consideration for keeping a sale from falling apart.
Not exact matches
WIN Home
Inspection offers a home - based, low - overhead franchise opportunity inspecting homes
as well
as commercial buildings for buyers,
sellers, lenders, and real estate investors.
If your contract with a
seller includes a home
inspection as a contingency, you have the legal right to back out of the purchase if your
inspection reveals substantial damage the
seller did not disclose.
In buyer's markets — where
sellers scramble to attract buyers — always make sure you include an
inspection as part of your offer.
Using the information from the
seller on current utility expenditures to establish a baseline and comparing what energy efficiencies could be incorporated that aren't currently being used (
as would be revealed in the home
inspection) can give a homebuyer the necessary, balanced idea of what to anticipate for utility costs.
Closing Costs: Fees paid at the closing of a real estate transaction by the buyer and
seller, including fees from your lender or third parties for services involved in the transfer of property, such
as appraisals,
inspections and title searches.
«The home
inspection may reveal otherwise, and,
as a
seller, you don't want to wind up putting your foot in your mouth,» she explains.
If the buyer has already paid some of the closing costs in advance (such
as loan app fee, appraisal,
inspection, etc) and has a
seller contribution amount specified in the purchase contract, how is the buyer reimbursed at closing?
My goal is to reduce the stress involved for buyers and
sellers during the transaction process, so I treat the home
inspection as an educational process.
This way you (and your agent, lawyer, etc.) get all this important information
as quickly
as possible and can immediately cut / paste sections from the Report Summary section (or any section) to send to the
seller if there are any
inspection items that need to be discussed.
As a
seller, if you have owned your building for a period of time, an
inspection can identify potential problems in the sale of your building and can recommend preventive measures which might avoid future expensive repairs.
As a
seller, if you have owned your property for a period of time, an
inspection can help identify potential problems and recommend preventive measures, which might avoid future expensive repairs.
At the end of the day though, a buyer may have several value added considerations such
as seller paid closing costs and repairs after an
inspection contingency but the
seller will (or at least should) always negotiate...
For a
seller, a pre-sale
inspection enables you to solicit clean bids — offers from
sellers that have little or no conditions,
as all factors are known and presented to all interested parties.
At the end of the day though, a buyer may have several value added considerations such
as seller paid closing costs and repairs after an
inspection contingency but the
seller will (or at least should) always negotiate on the basis of what their net proceeds after all concessions will be.
As a leader in the home
inspection industry, AmeriSpec helps buyers,
sellers and real estate professionals feel more confident about real estate transactions and helps to reveal possible repairs or unforeseen costs.
I would advise clients to always obtain their own
inspection report
as I believe there was an Ontario court ruling some years ago that a buyer can not rely on an
inspection report prepared for a
seller and therefore there is no recourse against the inspector and no fiduciary duty required from the
sellers inspector.
However, the pound quickly found
sellers, likely because wage growth was not
as impressive upon closer
inspection.
Here's a look at three potential
inspection outcomes and what each one means to you
as a
seller.
Typically,
sellers will simply proceed with whatever work needs to be done,
as noted on the
inspection report, so the sale can move forward.
For example, a borrower may receive a refund of their earnest money deposit, appraisal fee and home
inspection fee (
as long
as they have paid for these and the
seller has agreed to refund their payment).
There are many steps involved with selling a home such
as dealing with buyer and
seller agents, conducting a home
inspection, staging the home and finalizing the sale paperwork.
The
seller is responsible for all costs and liabilities of completing the required repairs
as reported on the VA home loan
inspection.
Passing a VA home loan
inspection is not
as difficult
as most agents and
sellers believe.
Should you share your home
inspection report with a home Buyer
as a home
Seller?
Our home
seller inspection reports, also known
as a pre-market home
inspection report, are full narrative reports that are easy to read and understand.
If the sale of your house is conditional on an
inspection,
as it almost always is, Williamson often suggests that the
seller be present when the inspector checks out the house.
If a home
inspection reveals that expensive repairs are necessary, a
seller may offer a concession to offset potential or known repair costs
as a way to help a buyer who may be unwilling or unable to repair a furnace or replace a worn roof.
It requires
inspection and licensing of many dog breeders, dealers, and
sellers,
as well
as shelters and rescues that foster and adopt out dogs.
Even if the
seller had actual knowledge, he probably doesn't need to disclose them
as they are «discoverable by a reasonable
inspection».
The
sellers» lawyer responded at 1:55 p.m. and stated that the
sellers were confident that the permit could be closed promptly
as all of the work was done correctly and the appropriate
inspections had in fact been conducted and that the matter could likely be resolved within a few days.
As such, buyers ought to insist on a home
inspection clause coupled with a demand for a
seller property information statement to properly protect their interests.
The
sellers didn't have to agree to any of our requests after
inspection because they knew they had 16 other people who would happily take the house «
as is» (or «
as was»).
• Prepare documents such
as representation contracts, purchase agreements, closing statements, leases, and deeds • Accompany buyers during visits to and
inspections of property, advising them on the suitability and value of the homes they are visiting based on current market conditions • Conduct quarterly seminars and training sessions for sales agents to improve sales techniques • Advise
sellers on how to make homes more appealing to potential buyers increasing average selling prices by 16 % from initial appraisals • Evaluate mortgage options helping clients obtain financing at the best rates and terms
Acted
as an intermediary in negotiations between buyers and
sellers and accompanied buyers during visits to and
inspections of property, advised on the suitability and value of the homes.
As the
Seller, it is your responsibility to get the home ready for the
inspection.
As a result, many
sellers try to remove the words «sole and absolute discretion», from home
inspection condition clauses or include additional language that if the amount to correct all deficiencies is less than $ 1,000, then the
seller has the right to correct the deficiencies and the buyer has to close the transaction.
The second clause allows us to ask the
seller to make repairs, request a discount in price (called a re-trade) or exit from the deal altogether
as a result of what is found during the
inspections.
Zwicky had promised to sell the home
as is rather than ask her
sellers to get an
inspection done on their DIY projects or neutralize the home's look.
The SPIS is a catch 22, If you don't fill one out your neglagent and now if you do get one filled out your liable, The items on an SPIS are items agents need to discuss and disclose in every real estate deal, so without the form
as a guideline we will always have areas that get overlooked or at least areas that we will be accused of not doing enough research, an SPIS on it's own is not enough if the
Seller is hidding something, but the oppourtunity to do a home
inspection was included and revealed a problem, getting rid of the SPIS will not change the
Seller hidding problems and then making their agent the escape goat,
as always good agents will need to «protect thy @ss» RECO did nothing to acknowledge the condition for the home
inspection should have been enough to allow the Buyers to verify the SPIS, this story has facts not being told otherwise the agent would not have pleaded guilty to these claims.
The Georgia appellate court ruled that a fraudulent
inspection report could serve
as the basis for a lawsuit by the buyers against their agent, the
seller, and inspector.
The
seller - obtained /
seller - paid - for
inspection, like an appraisal, is valid only for the day of the
inspection; thus it may be a few weeks out - of - date when used
as a selling tool.
Any home
inspection clause should establish some limits on what will be an acceptable home
inspection for the Buyer and then the
Seller can negotiate in good faith knowing that
as long
as the home meets this minimum no re-negotiation will take place.
The program includes home
seller benefits at every stage of the process, such
as professional photography, including aerial drone shots, pre-home
inspections, professional cleaning, appraisals and home staging.
Home
inspection reports can help agents convince
sellers to lower the price,
as these reports are generated by an objective third party and based on facts.
When a buyer waives their own home
inspection because it has already been ordered by the
seller, the buyer wins
as well because their agent can position the decision
as «sweetening» the deal without increasing the offering price.
Aside from
inspections, any SPIS or lack thereof, we
as REALTORS are the first line of defense to both our
seller and buyer clients
as far
as disclosure is concerned.
If there is a known defect in a home that the
seller is aware of, but said
seller is also of the opinion that a home
inspection likely will not uncover the defect, it is easier to fib with fingers crossed, hoping that after the deal closes the defect will not become a problem in any event, such
as some aluminum wiring mixed in with copper wiring.
It's your job
as an agent to keep
sellers calm and focused on the big picture; however, when it comes to home
inspections, most homeowners aren't used to having a stranger peer into their attic, open every cupboard and closet or test every appliance.