Check out these home inspection tips concerning both sides of the settlement table.
Home Inspections: 4 Tips to Avoid the Buyer and Seller Freak Outs.
Home Inspections - The process of a Seller waiting for the results of a Home Inspection is incredibly stressful. Every Realtor knows that no matter how New or Old a property is, things pop up in Home Inspections. I do not think I have ever seen a Home Inspection Report that came back perfectly clean. Folks, perfect is an imaginary word !
Many Buyers do not take into consideration how Home Inspections effect the seller and vice versa. Each party has their own list of things to worry about. It is a stressful process !! But whether you are a Buyer or a Seller take a step back. Take a deep breath. There are a few points you may want to think about. Are you a Buyer doing every possible inspection known to man-kind? Perhaps you are Seller psyching your self up for an invetable Home Inspection from Hell ! There may be a way to diffuse knee-jerk and emotional reactions to these Home Inspections.
Avoid the Freak Out! Get Perspective !!
1) Understand and Sympathize: The buyer is nervous too ! They have heard horror stories about "Shady Sellers". They have watched "The Money Pit" like 1 million times. They are extra sensitive and often on the defensive when going into a purchase. They feel that they can not afford to make a mistake. Buying and selling a home is the largest financial transaction an average person will ever do in their entire life. It is a big deal.
2) Money Ain't Free: Remember Sellers... The Buyer is spending extra money on all of the inspections. That money is not going to come back to them no matter what. That must mean they are looking for something of significant value in return. People do not spend money just to play games. (Dave & Busters is the exception of course.) Buyers get independent Home Inspections with the expectation that they will receive solid information. Buyers who do inspections do not want to sabotage the deal ! They want to test the product they are buying. Mind you the procedure may feel more like root canal to both parties. It is something that the buyer must do out of due diligence.
3) You've Got The Power: The Seller can reject the results of the inspection as well as refuse to correct or address anything that comes up on the inspections as the agreement of sale stipulates. The Buyer can do the same. If you cannot come to a mutual agreement regarding the inspections then the deal can end.
4) What is Done in Secret will be Brought into the Light: What I mean by that is Disclose! Disclose! Disclose! is as important as Location! Location! Location! when it comes to Real Estate. Whatever you know about your property, good bad or ugly, disclose it ! Whatever comes out about the property through inspections must be disclosed to future buyers if the deal never settles. Reveal everything and less harm will be done than if you do not disclose the truth about your property. Honesty will negate post settlement legal action. It diffuses the stress involved.
We hope these 4 tips are helpful to both buyers and sellers ! If you find the information informative, please subscribe to our blog ! Is only a click away ! If you are in our neck of the woods, please contact us via phone or email or ask about our new office location in Northern Liberties !
If interested in buying or selling properties in Philadelphia, contact Chris and Stephanie Somers at email@example.com or 215-400-2612 . You can connect with us on Facebook and Twitter . For investment properties, check out our new investor site at Philly Investor Hub and ask us about Philadelphia Foreclosures and Short Sales .
The Somers Team - Philadelphia Real Estate - our main site
Areas of specialty include Northern Liberties, Old City, Center City, Fishtown, Graduate Hospital, Art Museum, Queen Village, Pennsport, Old Kensington, Port Richmond, Bridesburg, Society Hill, Loft District, Spring Garden and more !