When Times Get Tough - The Inspection

Congratulations on another FEATURED post my friend. This is your birthday gift from Activerain.

Joan,  Inspections are so important.  So are HOA doc reviews.  Buyers who do not want to spend money on inspections are focused on the wrong thing.  It's a small price to pay to know what we can't see and what it will cost to correct it. Congrats on the Feature!

Joan, you are right - having a good Realtor is essential when purchasing a house and especially during Inspection time. Thanks for sharing today.

Hi Joan,

To the several comments about Inspectors being "deal breakers" I shall counter with " I didn't kill your deal, the house committed suicide. I just wrote it's obituary." <grin>

One of the best ways to avoid a big surprise on the part of the seller is to have your own inspector go over the house prior to listing it.  As we all live in our houses, we become accustom to it's faults and little problems.  These are "I'll get around to it" items that may or may not get handled "some day".  Now, since you have ignored it and/or forgotten about it, it pops up at the buyers inspection and its the inspectors fault for killing the deal?  Just remember, when you point a finger, three more fingers are pointing back at you.  The inspector is actually saving your butt by taking the liability for undisclosed defects or faults on his/her shoulders and OFF of yours.

Yes, there are a few inspectors out there that are just jerks and have no "people skills". They do not know how to or even care to handle your clients well and not scare them to death.  Sad, but they exist.

I've been inspecting homes and commercial properties for 10 years and come from a 30 year background in the trades, including being a General Contractor. I'm known as a "first time buyer" friendly inspector.  I've been able to present the faults found in a way that stresses the significance of the problem without blowing it all out of proportion.

The other side of the coin is the buyer that "wants me to find every little thing and make a big deal out of it" so that they can grind the seller on price. My usual responce is that "I'm just here to observe and report".  I don't have a dog in this fight and I don't care who wins. Not my job, man!  Being professional, friendly and informative is my job.

Quality home inspectors enjoy the variety found in houses and thrive on the detective work required to determine their condition.

Great home inspectors have the gift of being able to communicate these finding to their client in an educational manner that neither encourages nor discourages the sale but leaves the client comfortable that they are now able to make a decision appropriate to their desires and resources.

It would be a rare instance where a home inspector "killed" a deal but some homes sales potential can die from neglect.

Joan:  Great post regarding the value of inspections for the protection and knowledge of all parties. I have never had a transaction fall apart due to a bad inspection in 34 years. As you said, it's important to provide beforehand knowledge and education to all parties and agents and look for a win-win in the negotiations re: the information that shows up. Keep up the good work in the Denver area.

nancy@nancymiddleton.com
Keller Williams Realty
Lake Minnetonka
Wayzata, Minnesota

Hopefully they are not a hung jury and can work things out to everyones satisfaction!!

In an environment of “as is” sales of REOs, short sales and homes that are subject to multiple offers the idea of negotiating for repairs seems so quaint and old fashioned.

Inspections…of course. The buyer needs to know the condition of the property that is being purchased. Repairs…do not happen often enough due to the lender controlled sales and competitive market that is currently tilting to the benefit of sellers.

You bet about the listing agent having knowledge. Bugs me now that REO agents seem to think they do not have to pay attention to this law in my area.  What you know you have to pass along to the next buyer plain & simple.

Hi Joan, I tell sellers that.  Even though your home may look perfect, a good inspector will find a few things wrong, even if it is a sprinkler head out of adjustment.

These days the banks will fix what the law requires and little else.  Thanks for the post.

After going to over 1000 inspections there is always something. Worst was a $50,000 stucco repair.Guess what, seller paid for the fix. Buyer was happy and the property closed.

Good morning Joan,

Congratulations on the featured post..well deserved. Tjhe inspection process can be a nail biting process if not taken seriously. There are always going to be issues that come up..address them head on and have good vendors who can take care of items not functioning.

Great post, Joan!  I make sure to explain that there are no perfect homes to all my clients.  Typically when there is a major issue, most sellers will address it and close the deal.  Otherwise, you're right- they must disclose the defects to all future prospective buyers (and will probably have to fix it then anyway!)

Hi Joan, congratulations on the feature. I educate both the buyers and sellers about home inspections.  Even if you think the house is okay...something will come up maybe major, maybe not.

Joan,

If you feel particularly snarky one day, send in a "sleeper" shopper to see if the Agent is now disclosing everything they should. If not, take action and correct them. Report them to their broker and the local board.

If we want to keep a clean reputation for the industry, we need to hold the less than honest ones accountable. If not "self-policed", it will come from outside.  The last thing one wants is some clueless politician making the rules.  They have amply demonstrated that they are not capable of doing it well.

Dana

Good for you Joan. Being proactive pays off for everyone involved in the transaction.

This is a greaat post and I'm sorry I missed it (saw it on Jan Green's re-blog!)  Time for me to do the same.