. Our buyer had some ultra specific qualifications for an investment property and one popped up on our Buyer Radar that checked all the boxes. Very narrow location perameters for walkability and features and updates were all there......it was a bank owned flip and the listing agent 
spoke with great assurance that "quality contractors" had taken great care to be sure that no detail was left undone....mechanically, cosmetically...it was just "move in ready." We of course, had a home inspection by a licensed home inspector written in as part of the offer. Before we got to the examination...David...a/k/a . the "Mechanical Hanson" toured the property with the Buyers and voiced some concerns that the inspector....and later,...other contractors needed to evaluate.
Three of the walls in the basement had been braced. In Wisconsin, properties with block walls often have some deflection and require bracing...the 4th wall left untouched...did as well. No....the agent claimed, the Bank would not pay an engineer to evaluate the wall..it was just fine. David had his trusty level...no "fine" was not t
he Find-ing. For decades...our foundation specialists at Adonnis Waterproofing our clients well from bracing to drain tile...they are fast, efficient, professional and warranteed ! No engineer required...Al Adonnis, the owner, wrote a report indicating the wall indeed needed bracing.
Golly gee....the furnace would not go on...the water heater didn't heat..(yes the utilities WERE on)....the radon as is often the case in southeastern Wisconsin, exceeded government recommended levels. An amendment was written to correct these "not so minor"issues...which the Bank still saw no reason to correct.
Well.....in Wisconsin we have a powerful real estate document called a "Cancelation and Mutual Release" or CAMR...this accompanies a "Notice of Defects" which tells the Seller(s) the reasons the Buyer is electing to Cancel the contract. Floating the idea that if these issues were not addressed by the Bank and the property was really NOT as "move in ready" as promoted...Our Buyers would mooove on...Amazing...that got the attention of the Bank who had a choice...don't make the corrections...but now be required to amend the condition report to indicate the problems found in the condition of the property....OR ...repair them and close the transaction.
Drum rolllllllll.....YES YES YES....we will be Sellabrating this week with a "happily ever after" closing....Respect the Inspect....Remember your obligation as a Buyers' Agent...Don't ASSUME...that the...Seller is right...the listing agent "knows"...Do your HOME work,...Amen and Women.
This has been a professional "cautionary" post brought to you by Sally K. & David L. Hanson, Broker Associates with EXP Realty, honored to be of service for all things real estate in southeastern Wisconsin.
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