We recently represented a buyer in the purchase of his first home.  The house was great.  It was in a wonderful neighborhood.  The interior had been beautifully updated, and the air conditioning was new.  The house had been repainted inside and out, and a very nice, high-quality stockade fence had recently been placed around the backyard.

Things were moving along well, and the time came for our inspections.  We had requested a low figure for repairs, since the house had obviously been well-cared for and looked to be in great condition.  Of course, our request for repairs was also a part of our bargaining strategy, since we were asking for closing costs.

To our dismay, and even more to the dismay of the seller, inspections revealed the need for over $5,000 in repairs, including four piers, repairs to the furnace and hot water heater, and treatment for termites!  This came as a complete surprise to everyone involved.  Of course, that is part of why we have inspections--many defects are often not visible to the observer, and only become apparent on inspection.  I could see the look of utter disbelief and shock on the seller's face when the inspector went over repairs with us.

It seems that in some circumstances it might be wise for sellers to consider paying for an inspection before putting a house on the market to avoid unpleasant surprises at inspection.   This might particularly be true for older homes, which are likely more at risk for adverse findings on inspection.  Having a pre-listing inspection for the seller would help him/her have a more accurate understanding of the costs he/she will need to pay in connection with the sale of the house.

Has anyone had an experience with this?  We would be interested in hearing your thoughts or experiences on this topic.

 

 

 

 

8 Comments on SELLER'S INSPECTION: WHAT DO YOU THINK?

JUN
30
2007
5 Featured Posts

Great post. Many home seller's are unaware of problems that could exist in their home. Home seller's should get a inspection so they are not blind sided.... however, once you know about a problem you must disclose it. This is a double edged sword. If I was selling, I would rather wait and see what they find during the inspection period and then negotiate from there.

 

12:29pm • #1
Localism Sponsor

BRAD,

Good points!  This is what we did on our sale, and we were able to negotiate a good deal for our buyer. 

12:32pm • #2
1 Featured Post Localism Sponsor

Good Idea. Think it would save everyone envolved lots of time and headaches

 

1:19pm • #3
130,028 Points Outside Blog
I agree to disagree. The inspector will just look for something so he makes sure he will still have a job.
1:31pm • #4
693,949 Points 72 Featured Posts Localism Sponsor Outside Blog
I recently had an inspection with a huge (and expensive) surprise.  My buyers backed out and the house went to the lucky buyers with a back-up contract.  Hope they got an inspection - in this area a lot of people don't.
3:28pm • #5
Localism Sponsor

Jeff,

Inspections certainly can be a big source of headaches, can't they!?

Susan,

Hopefully some inspectors will not feel an obligation to come up with too much!

Patricia,

It is interesting to hear that many buyers in your area do not get inspections.  Where do you practice?  I would say that most buyers here in Oklahoma do choose to have an inspection.

10:09pm • #6
JUL
01
2007
177,161 Points 16 Featured Posts Outside Blog

This can be a sticky situation. As you know, inspections in our area are pretty standard. I've yet to come across a buyer that refuses an inspection and I always recommend them when I'm representing the buyer. When I'm representing the seller, I recommend doing a pre-listing inspection, although most of the time, they'd rather wait and leave that up to the buyer. I guess for saving the expense. And as mentioned above, once something is found, it must be disclosed. I guess I too would wait, if I were the seller, however, I can see a benefit for the seller to know ahead of time what needs to be taken care of and it could be a positive for the buyer, knowing an inspection has already been done and those items of concern have already been handled.

I don't agree with the sentiment that inspectors only pick things out to keep their job though. A good inspector, such as the one I use, is looking out for the buyers, as well as not trying to be so picky that they squirrel a deal unnecessarily. I expect my inspector to point out the things that the buyer should actually be concerned about, but not be so picky that they scare the buyer away.

Great post!

1:18am • #7
Localism Sponsor

Ryan,

Good discussion of this topic.  We also use a great inspector who operates just as you describe.  An inspector like this is such a valuable asset!

Thanks for your comments!

8:48am • #8

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Ruth Ann Mertens-Oklahoma City Real Estate

Oklahoma City, OK

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Paradigm AdvantEdge Realty

Address: 16301 North May Avenue, Edmond, OK, 73013

Office Phone: (405) 348-4422

Cell Phone: (405) 255-6770

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Information about real estate in northwest Oklahoma City and Edmond, as well as the west OKC area, including Deer Creek, Piedmont, and Yukon. News and other helpful info about Oklahoma City, as well as general comment and discussion about issues in the field of real estate.


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