Seller or Buyer responsible for well/septic/termite inspections?
Beverly Herdman, shared a post some time ago that still can be used today. There are many useful ideas that can & should be used to further help guide your next real estate transaction. Use these suggestions as a starting point and customize further to your own specific situation. Thanks for sharing.
With buyer representation it is our job as the Realtor to not only negotiate the best offer for our clients on a home purchase, but, to protect them and their interests.
Buyers have a choice within the contract:
Have purchaser or seller responsible for these additional inspections.
Of course buyers are responsible for the home and radon inspection, but what about well, septic and termite?
Most purchasers first thought is "Why should I pay for those, it's not my house, it's the sellers responsibility." Yes, but what companies are they hiring are hired and represent the seller. If their is a problem, you may not have the opportunity to get a second opinion as well as estimates to further investigate any problem at hand. Who is able to represent and educate you on the potential problem.All the sellers job is to do is PROVIDE A CLEAR REPORT, it also states in our NVAR contract that it is up to the sellers discression of how they will remediate. Well, I feel there needs to be several estimates and matters of opinion to make sure the proper decision is made for the purchaser and that the purchaser has to be ok with the remedy or the contract becomes void. I will not let my clients enter a "sticky situation" and take on future issues.
I have had this come up with a septic inspection. Septic failed due to saturated drain-field. Listing agent had a company go out and give estimate from a "partial" inspection that the septic company confirmed was a temporary fix of $2,450.
My client had a company conduct a full inspection and the entire system has failed and the county has considered the home inhabitable. Proper replacement bids have come in ranging from $15,000-$25,000
This is a significant difference that my purchasers would have been on the hook for had we not done our due diligence.
My suggestion? It is the buyers responsibility to pay and order inspections. If $500-$1,000 in inspection costs give you heart burn you may want to reevaluate home ownership.
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Beverly Herdman Wine Trail Homes,LLC Keller Williams Realty
Tel: 540-825-7441 | Mobile: 703-969-4280
beverly@winetrailhomes.com | www.winetrailhomes.com
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