Special offer

Lose a buyer because of a home inspection… Something that should never happen!

By
Real Estate Agent with eXp Realty LLC 200311024

Do you have a home for sale? Are you thinking of putting your home on the market in Tigard or Beaverton, Oregon? How would you feel if you put your home on the market, you get a full price offer and the buyer got the home inspection and then send you over a letter saying they are canceling the contract based on that inspection?

This happens every day and yes sometimes it is just buyer’s remorse and the buyers are using it as an excuse, but most of the time the buyer is just worried about they are going to be getting a home with a lot of problems. One way to help make sure this doesn’t happen is to get a pre-inspection. Now, every inspector is different and each inspector will find something another one doesn’t. But, less they find the less chance a buyer will have of walking.

Now, why would I tell you to spend $400 if I just told you that even if you hire an inspector the buyer’s inspector will still find something that yours didn’t? Well, the main reason is the less the buyer’s inspector finds the better. Think of it this way, if you bought a house and had an inspection and your inspector found 40 things wrong even minor ones, you would still think twice even if for just a brief second. But, if they found only 4 or 5 minor little things, you would still proceed with the sale and feel pretty good about your purchase.

But, there is even a better reason to spend that $400! Now if you have had your home on the market for 30 days and get an offer and you accepted it, what do you think buyers are going to think if it goes back on the market? They want to know what is wrong with the house and are immediately discounting the price and you will more than likely have to give up a lot more than $400 in price reductions to satisfy the new buyers thoughts about the house, even if you had done all the repairs.

So, if you are thinking about selling your home, contact me about how to get the most from the sale of your home in the least amount of time. I have lots of things that will increase the amount you get for your home and how quickly it will sell. The best part about the list is that many of them are completely free and can be completed in less than 5 minutes.

 

Comments (17)

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Potential buyers walk away after an inspection report than sellers realize.  With so many homes to choose from these days you don't want to scare any one away.  hard part Todd is getting the sellers to fork over the bucks.

Jun 28, 2010 01:10 AM
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

Many of the items found on a home inspection are not items that need to be repaired, and that's why they haven't been repaired. Buyer should understand in the beginning that they are not buying a new home, and that the home should not be expected to be in perfect condition. What is most important are the items in the contrac that are considered warranty items that the seller is contractually obligated to repair.

Jun 28, 2010 01:15 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

Great option for sellers to do   I think in my area we have so many REO properties that the number of buyers walking away has dwindled a lot...they know the house is as-is...and if htey are walking due to an inspection it better be some thing pretty major!!! 

Jun 28, 2010 01:48 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Todd - This is great advice for seller's and you are absolutely right about a home going back onto the market, the first question my buyer's ask is "what's wrong with it?"

Jun 28, 2010 02:13 AM
Craig Rutman
Helping people in transition - Cary, NC
Raleigh, Cary, Apex area Realtor

So few sellers agree to a pre-inspection. I just had one that did though and the buyer's inspector barely found anything that would be considered a deal killer. 

Sound advice Todd.

Jun 28, 2010 02:20 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Todd,

This is great advice!

I couldn't agree more, but it is a double edged sword.

You have to have realistic and honest sellers! Once the seller is aware of a problem it must be disclosed, not covered up. Since you're involved you may now become libel for non-disclosure of items you'd other wise have no contact with. This could even be a major problem in states with out required disclosure forms.

Get the inspection any time you can! It's honest. It's enlightening. It's a great defense. It stops surprises at inspection. It stops surprises at appraisal. It's extremely professional.

Bill

 

PS: While you're at it get a preliminary title report, too. It saves surprises!

 

Jun 28, 2010 02:39 AM
Lori Churchill Cofer
Beasley Realty - Pullman, WA
Realtor - 509-330-0086 - Pullman, WA

Todd,

In Washington, the buyer doesn't even have to give a reason why they are disapproving the inspection...it is tough....

Jun 28, 2010 02:48 AM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Todd, this is very good advice for a seller who says right off "there is nothing wrong with my home"...well then put your money where your mouth is and prove it, then I'll be able to show the home and say - we have proof that there are no issues.

Jun 28, 2010 04:28 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Todd, another useful and jammed packed post!  Great stuff..keep it coming!

Jun 28, 2010 05:31 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Todd - EXCELLENT ADVICE!  I have seen this happen so many times with my buyers and you are dead on about buyers attitudes about properties that are BOM.

Jun 28, 2010 10:40 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Todd, Having a pre-inspection done keeps one more objection from getting in the way of a successful transaction! Great advice!

Jun 28, 2010 12:42 PM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

A great post but I wish you'd find a different graphic rather than the one that implies the home passed the inspection. As a former home inspector myself from October 2001 to August 2005, I can tell you that homes do not pass or fail inspections, but when real estate agents use such terminology and graphics, all it does is cause problems for the home inspection industry, problems that creep over into our business as real estate agents.

Jun 28, 2010 03:37 PM
Richard Byron Smith, NMLS #184479
Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Chattanooga, TN
Mortgage Loan Officer

Most buyers get an inspection. Most agents recommend their buyers get an inspection. It make sense that a seller would be better prepared to have an inspection already done and available to buyers.

Jun 28, 2010 03:58 PM
Troy Pappas
Safe House Property Inspections - Virginia Beach, VA
Virginia Beach Home Inspector

I agree with Jim. Home inspections are not provided to pass or fail a home. Only to present the condition of the home on the day of the inspection.

I also agree with Bill that buyers should be informed that they are not buying a new home, and that maintenance issues are part of owning a home.

Jun 28, 2010 04:09 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great points Todd.  Too many people insist theirs nothing wrong with their home, and the inspections reveal some major surprises that very well can kill their sale.

Jun 29, 2010 12:30 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I tell sellers that it's better to know what potential problems may be than be surprised later. 

Jun 29, 2010 03:23 AM
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Very compelling reasons for a seller to do their own inspection for sure Todd.  We don't do this nearly enough...  thanks for the nudge!

Jun 30, 2010 02:07 AM