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In this realtors’ opinion, typically the inspection period is the most challenging part of the home buying and selling process. It is set up as a lose, lose proposition from the get go.
Process 101: Offer accepted, Purchase contract is all put together. Price, closing date, financing all negotiated and inked. Deal is done right?
Yes, and No.
Now begins the inspection period. If buyers opt to have inspections they then review their findings, and make request of sellers based on those findings. Seller can then accept request, counter or reject. After all are agreed, buyer and seller sign inspection addendum and then, only then are we done. (financing contingency remains).
The good news- the vast majority of the time is successfully negotiated. The bad news-it’s stressful.
The seller has just had their beautiful home, that they have loved, that has served them well, has just been picked apart, it’s flaws ( real or not) touted in bright red ink. The buyer has just had their perfect new home picked apart and it’s flaws touted in bright red ink. Just 12 days ago we had a “perfect” house. Now we have a “problem” house. Of course, neither is true.
Inspections are not about making a house perfect, but simply to allow a buyer do their diligence, to learn about the property, to know what they are getting in to. Sometimes costly and unexpected items turn up, such as a new roof. Other times we know the house needs a new roof when purchase contract is agreed to. Inspections are information gathering time. Sometimes all recommended repairs are made, other times no repairs are agreed too, sometimes some, but not others, are agreed to. In this current sellers market in order to win the bid, it is not uncommon for buyers to either forgo inspections, or accept inspected property with no repairs.
Your agent has never of more value during this time. Your agent will help you make a good business decision. This is a time to try to set emotions aside, not worry about who is right (flaw- real or imagined) or wrong, but simply to make a wise business decision that will allow both parties to move onto close and into or out of their “perfect” house.
And when the dust settles, most times, that house again is ” perfect”, flaws and al
