is the home inspection! All parties involved with the sale, dread the home inspection, the real estate sales people do, the sellers do and yes, the buyers do too. Why? It is the fear of the unknown.
Real estate sales people dislike the home inspection for many reasons. For the most part it could be a lot of extra work negotiating or even worse a loss of a deal. Realistically, home inspections go well. However, from time to time when a problems arises, sales agent have to work very hard finding straightforward cost effective solutions for the problems and then tend to their client's emotions. Even after looking at all the possible options, sometime no amount of negotiation can keep a seller and buyer in the transaction. If the buyer is unreasonable in their request or the seller is unreasonable in the solution, there can be no sale.
Most sellers take pride in their home, so when an issue arises in the home inspection they may get a little more emotional over the situation. After all it is their home. It's not unusual that the seller may question the inspector's report and question the inspector's own knowledge. Once an offer is signed on a property, the seller has emotionally and financially committed to the sale. To them, a home inspection may effect their bottom dollar or possibly jeopardize a much needed sale or a selling time frame, effecting moving dates and the purchase dates on another property.
During this part of the transaction, buyers also have emotionally and financial commitment to the property., When the "expert", discovers an issue, the buyer's comfort level of the house is lowered and disappointment sets in. Buyers are always "cash strapped" for the most part and usually don't have the extra money available to make the recommended repairs. This is where the help of the real estate professional can aid in the buyer's next move.
Rectifying problems can be easier than you think. One of the most popular ways of addressing the smaller issues that don't require immediate attention, is to get several repair costs on those items and negotiate out an amount that is acceptable to both the seller and buyer, reduce the sale price accordingly and leaving the repair(s) to the buyer. If an issue needs more immediate attention, then the seller should take on the responsibility of repair. All work should be done professionally and proof of completion and payment should be brought to the closing.
A great way for the seller to avoid "surprises" is to be proactive by hiring their own home inspector before they list the house for sale. This way if a issue is discovered, the seller can fix it prior to listing the house for sale. This can actually increase value and will make for a very smooth transaction. Buyers should never rely on the seller report alone. Buyers should ALWAYS hire their own home inspection as well.
To help in the sale of a property, I always attach a ERA Home Protection Plan to every transaction I'm involved with. It creates a safety net for the buyer after the sale and protect the property from many mechanical breakdowns that may happen in the first year of ownership.
Good bad or indifferent, home inspections are a necessity and every buyer should have one done, even when purchasing new construction.
Kenneth Brown
