Hi Team,
It is getting to be a little crazy busy out there and things will get pretty hectic as the Spring market comes around, so best to go over basics when we get the chance here.
I have had a few clients and also a few of you ask what to do after the home inspection.what to ask for from the sellers, etc., and everyone just wants to get the best deal possible.I get that. But remember your job is not to steal every house for your buyers.it is simply to look in their best interest. What is their best interest? Well, ask them.they'll let you know. If they are more concerned about the leaky pipe on the water heater than getting the house, then write up the addendum asking the seller to have the pipe repaired.etc.
Just keep it simple. It all comes down to this question, and I ask every buyer I work with this question if they have ANY questions at all about an inspection report.
"If there is anything that is such a major to you that if you insist the seller have the item(s) repaired or replaced, and the seller decides to sell the house to another buyer, and you are okay with that, then let's write it up." Let's just say I don't end up writing a lot of repair addendums with my buyers.and almost NEVER if there was a multiple offer situation involved.obviously, as they almost certainly have a backup buyer lined up.
The exception to this of course, is if there really is something big enough, like if the attic is full of mold and the seller wasn't even aware, or radon levels of 28.6 when 4.0 is the max you want to see.something like that they would have to fix for pretty much every buyer that comes along. But remember, when you write any repair addendum, it opens up the contract and it is literally the equivalent of presenting a new offer.and the seller can take it or run with a secret backup offer if there is one.and you may not know there is one. Nothing makes the phone ring on a house like an offer.seems that every time I have a listing that has been sitting there for 4 months with no showings, we get an offer, and suddenly within a week I have 3 buyers that want to be "backup" in case ANYTHING falls apart. For that reason I don't even use "SOLD" riders until the property actually closes.all of my signs say "Accepting Backup Offers".
Keep in mind if the inspection comes back and the items of primary concern are things that you know the FHA appraiser will need done, you DO NOT need to ask for that to be done in the first 10 day inspection period. If there is flaking and peeling paint all over the soffits, or if there are no GFCI outlets in the kitchen or bathrooms, or no handrail around the deck or on the 12 foot stairway to the front door, etc., there is a good chance these items will be a requirement by the appraiser anyway, and that will NOT be an inspection issue, that is an appraisal issue for financing.so you don't have to stress over that stuff.
Hopefully this helps at least a little in letting you know how to approach this issue that otherwise can be stressful as you are going along J
John E. Cremer, Realtor®
The John Cremer Real Estate Team
West Michigan Residential Specialists
Five Star Real Estate, LLC
4249 Parkway Place SW, Ste A
Grandville , MI 49418
Mobile/Text: 616-437-9166
Direct Fax: 616-257-4136
Email: john@cremerteam.com
Website: www.westmichiganliving.com
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