Okay, I know I am going to get killed by some on this but hear me out. For the most part, we all know that buyer's agents are going to wait to do the home inspection until after the lenders have approved the short sale as I would. However, after waiting for 3-6 months or longer for lender approval, you find out that the house has a significant issue. The lender(s) doesn't want to hear about it after they have approved the deal and the buyer could walk leaving your seller facing a potential foreclosure.
However, if you, as the listing agent, encourage the seller to have the home pre-inspected, you could head off many of these issues (I know money could be a factor for some sellers but many have the funds and are just not paying the mortgage). If pre-inspected and disclosed to potential buyers, the buyers could make an informed offer knowing what issues will need to be addressed. The listing agent could than provide the lender with all the material facts regarding the property and a copy of the report to justify an offer price. This would eliminate the buyer distress upon inspection after waiting several months for the bank approval and the seller being forced to potentially have to find a new buyer.
Thoughts?
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