Who's the "Hot Potato" in your transactions these days? We go back and forth on negotiating price and terms of the agreement and then get to the famous Inspection Period, otherwise known as the "second negotiation." Am I nuts or is it crazy out here!?
Ever since I've been a REALTOR, I've completed a FORM called a Property Inspection Addendum (to the contract) showing the requests/dissatisfaction of the Buyer based on issues discovered during the inspection. This information is signed by the Buyer and forwarded to the Listing Agent for negotiations (and hopefully a successful resolution;) then signed by the Seller. This way, everyone is very clear about what's to be done by closing.
The "Hot Potato" I'm talking about is where the Buyer has written a lengthy letter, ranting about his dissatisfaction - much of which is NOT on the Property Inspection Report. Huh? What is the Seller supposed to agree to here? By the way, the Property Inspection report showed "NO MAJOR Issues."
Another "Hot Potato" deal is where I represent the Buyer. The Listing Agent doesn't seem to know the difference between an FHA Appraiser and a Home Inspector. Still, nothing has been signed as I continue to explain the process to my Buyer and the Listing Agent.
What kind of wine goes good with "Hot Potatoes" or is it "Hot Potatos?" Where's Dan Quail when you need him!?