One thing that I did not mention during the reviewing the offers portion of the series is the issue of inspections. When I am representing a seller of a short sale, I typically advise them to allow inspections, but for them to be for information purposes only for the buyer. I do not want my seller to be obligated to make any repairs whether they are at the buyers request or the lenders. This is because most of the time, my clients are already having a financial hardship, and it doesn't make sense for them to have to come up with cash to sell their home.
It is very important to make sure that all of this is discussed up front with the buyers, this will prevent most problems that may arise. Of course there is always the possibility that something serious will be uncovered, and the sale will not go through.
Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com
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