We recently had a home sell and ran into what I thought was an unusual situation:
The owner of this home bought the home less than a year ago and had it inspected. He never moved in and decided to sell it instead for a price high enough that he could recover his investment and the real estate commission.
The new buyers hired an inspector that spent almost 10 hours in the home and produced a report with over 60 items to repair. The owner and Realtor were shocked as the previous inspection had very few items to repair and the home was in great condition.
Apparently, there has been some recent litigation around inspectors and inspections not catching everything and the word on the street from Realtors is that home inspectors are overly cautious about litigation and are ripping homes apart. This obviously threatens sales for Realtors and home owners.
In Home Staging, just like real estate, having homes sell and close is the key to growing your business. I'm thankful that we had such a great Realtor involved and that she was able to get all the items negotiated out. This home had been on the market for a long time and went under contract in a very short time. Having an excessive (in my opinion) inspection really hurt everyone more than it helped.
Has anyone had a home they staged get an accepted offer then fall through from a harsh inspection? How do you handle these situations?
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I have heard of a number of transactions falling through because of overzealous inspections.