Getting Ready for the Inspection
May 1, 2021 | Seller Insights
The buyer of your house will be conducting inspections in the near future. The inspection process creates some anxiety for most sellers and understanding the process can help alleviate the worry. Here are three things that will help the process go smoothly:
The buyer has three options after the inspection. a) Accept the house as-is with no requested repairs. This is rare. b) Send a notice to terminate the contract without even giving a reason why they want out of the deal. This is rare also.
No matter how nice your house is, most buyers end up choosing option (c) – a request that you correct certain defects. Just as most buyers end up asking for some repairs, most sellers don’t want to do any. It is not unusual for sellers to feel a bit irritated and frustrated. If you feel that way, you’re normal.
We have a small window of time built into the contract to negotiate over inspection items. If we cannot come to agreement with the buyer during this negotiating window, then the contract automatically terminates and we give the earnest money back to the buyer and start looking for another buyer.
There is almost always a way to come to an agreement about what you will and will not do. Subsequent buyers are likely to request most of the same items being requested by the current buyer. Thus, from a practical point of view, many inspection issues have to be addressed regardless of which person buys the property.
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