Used to be; once you've negotiated an offer on your listing, you'd be in the car with your sellers, now your buyers - on your way to buying a bigger better home. Not so fast....
Explain 'why you should slow down' to your sellers. Explain what CAN go wrong to them and you'll be talking for an hour with them on the multiple possibilities of what COULD go wrong. No one wants to be negative but let's face it...it's not over til it's over and I subscribe to laying it all out on the table so everyone knows what COULD go wrong and at the end of the day, be prepared to handle any and all situations.
Remember the Home Inspection that I thought would be a good idea, Mr. Seller, when I listed your home? These might be some of the things you might not have known about.
What can go wrong?
- General Home Inspection - Yikes!
- Anything the General Home Inspector recommends [in addition to the General Home Inspection]
- Roof deemed 'end of life'
- Furnace - A/C appear to be end of life
- Well Test -Coliforms/Bacteria
- Water Potability Test
- Radon Test - Over 4.0 In Ohio and it's 800.00 - 900.00 to mitigate
- Septic Test, Min 14k to 35K and some counties you can't escrow the funds, seller needs to replace.
- Pest Inspection, $75.00 but could cost $500.00 for treatment, if wood boring insects found
- VA OR FHA Inspection [they call it an appraisal to catch you off your guard]
- Final Walk Through Inspection, buyers sometimes think it's time to renegotiate
- Appraisal, FHA/VA Banks Require, Cash, no worry, Conventional-Sometimes, Homes must appraise for purchase price.
- Buyer remorse
- Seller remorse
- Loan Conditions not met, Loan Denied!
- Hardship
- Death
Now...most of these items are things that we can get through and get over, most often. It takes experience, patience, understanding, communication and education and then more experience. This is where having an experienced agent pays off!
This is what I've been through lately. Needless to say, I do a lot of praying.
Anyone care to add to this list?
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