Offer Accepted -- It's Now Time To Do Some Investigating

Michael, It's the contingency time that sometimes causes problems.  When the inspection is not acted on quickly and say something like a radon test or well water test takes 24-48 hours for results to be produced.  Sometime extentions are needed by rarely is anyone happy about applying for one.

Michael, You are spot on, once the offer is accepted there is so much to do within that specific time frame. That's why it's so important to have an EXPERIENCED and CARING Realtor such as YOU guiding their client through the process to insure the transaction proceeds smoothly.

I wonder if people think once we have written a contract we just wait for our commission check...I also do more work after the contract then before.

Great work...Michael, once again.

Hope you have lots of acceptances (and closings) this year!

suggested.. :)

Hey Michael.  It can be so overwhelming for people.  Luckily they have an expert like you to show them the way.

Michael, Time for some due diligence by the buyer and their inspectors.  No doubt a crucial part of any contract.  This stuff can make or break a contract in a heart beat. When inspections uncover a plethora of defects things really get interesting for all parties.  We need to be on our toes and handling the objections with care. 

Michael, this is an excellent explanation of "Oh, it isn't over, yet."  Since states differ, yours is an excellent explanation of what to expect in California and your market in particular.

First time home buyers need to understand that these advisory forms are meant to scare but to inform and to protect. 

I actually enjoy the inspection process, usually.  It gives me an opportunity to learn more as well.  And, you are right....disclose whether or not you believe it is a material fact.

Michael Jacobs - This is really great information to know for buyers in CA and for me as an Agent in Texas. I get prospective Buyers from CA in my Open Houses pretty regularly. A couple came in yesterday. He was from TX and his wife-to-be is from CA. Both previously married; both have homes in each state. It was interesting for me to hear them converse together in the kitchen.

I noticed, he was pretty well versed with TX Real Estate Law and she seemed to me to be exceptionally knowledgeable with CA real estate. As it turned out, she was a Mortgage Lender and even though he never said what he did for a living, I'm pretty sure buying property in TX isn't his first rodeo.

The Advisory forms are of interest to me. For example: "this two page advisory explains the importance of a property investigation by an inspector as well as by you."

The first thing  that came to my attention is it clearly states the property investigation is between the inspector and the buyer (not the real estate agent). That's good! It is that way here in TX too; however, the couple from yesterday told me they were under contract for the past 4 months and couldn't come to terms with an agreement because they said the agent here in TX kept trying to overstep her boundaries by elevating her knowledge over the inspectors. What you get when you have an educated buyer from CA and her partner who is native to TX who disagrees with the TX seller's agent? You get is a terminated contract with buyers who don't trust real estate agents! 

I'm not familiar with CA's 10 page advisory but I would like to see a similar form here in TX. We have a General Information form but this one you describe is very specific to home inspections which is critical for buyers to know. 

I feel like I am always being educated in the best way, between what I learn in the state where I do business, and how things are done in CA. Since my experience was fresh, coming in yesterday afternoon, I wanted to say thanks!

Patricia

Michael Jacobs - Disclosing is always a good idea.  I love the new CAR Form DIA - Disclosure Information Advisory.  You are a Great Realtor, Michael!  Have an awesome holiday!