A Resale Home does not 'Fail' an Inspection
I recently procured a new buyer who had already been under Contract with another agent and gone under Contract on a home that they also had appraised and inspected. The appraisal was fine but, the inspection was another story, according to the buyer.
"The Home Failed Inspections!"
"Oh NO! What do you mean?" I asked.
"My agent started telling me everything that was wrong with the home and it was a LOT of stuff and she said that 'it had failed' the inspection."
After a long conversation of the items and TRULY how inexpensive and COMMON each of the items were, I wondered first, who the inspector was and second, how much 'teaching' the client had received prior to and following the inspection. After comparing the inspection to other repaired items on recent sales, I calculated about an $800 'fix' for everything on the list...that's how minor most of the items were.
I don't know of one inspector who grades the homes that they inspect or even give it a pass/fail. That's truly NOT the inspector's job. The inspector's job is to provide an opinion of issues noted during their inspection and within their report (at least in NC), provide the trade who can address each item. Again, there is no pass or fail with a home inspection on a resale home.
Turns out, the buyer was quite disillusioned with both their agent and the inspector, firing them both but, not without losing a hefty Due Diligence fee as well as the costs associated with the inspections and survey, appraisal and not to mention their time lost. Thousands of dollars because the agent did not properly educate the buyer. The inspection report, had it been graded, would have been a A- or a B+ - no kidding. By the time the buyers had fired the previous 'partners,' the home that they loved was already under Contract again.
After waiting for the right home to come along again, we were under Contract and had inspections completed. The buyers could not attend the inspection so, we Face-Timed the report with one of my wonderful inspectors who reviewed each item with one of the buyers. We discussed each item in detail and two days later, I provided the buyers with an estimate from my contractor of $1,330. We put together the repair request for the sellers and the buyers said, "If the sellers can't make the repairs, we can just have Howard (contractor) do the repairs ourselves after Closing. We are good with paying for it if they won't."
Once again, verification that literally no education was provided to the clients the first go-round. Had it been, I would never had had the pleasure of working with such a wonderful couple. However, they could have saved thousands of dollars had they been properly advised during the first transaction.
NOTE: A Resale Home does not 'Fail' an Inspection!
Visit www.TheMaxwellHouseGroup.com for more information and to search for homes in the Charlotte Metro region. Your first step should be enlisting an experienced, local real estate broker who will educate you on the ENTIRE home buying process. Selecting a great broker is not as easy as it may seem. There are real estate agents and brokers who will sell you anything but, you want to enlist a seasoned real estate professional for your real estate needs. We would love to share our knowledge of the Charlotte market with you...and give you the grand tour of our beautiful city as well!
© Debe Maxwell | The Maxwell House Group | CharlotteBroker@icloud.com | A Resale Home does not 'Fail' an Inspection
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