It’s a huge relief to get the purchase contract ratified and know the buyers are on board, but this phase of selling a home quickly evolves into the inspection phase. Unless you marketed your property with unusually robust disclosures and preparations, the buyer’s property inspections often result in requests for concessions by the seller. I will help you prepare for this possibility and fully understand your options.
Part of my job is to help you to avoid “surprises” related to condition and concession requests that follow inspections. I’ll do my best to share in advance what I see that buyers may want corrected or may attempt to leverage to their benefit. Nevertheless, there are usually things that nobody can anticipate until the inspectors have submitted their reports.
I want you to always be thinking ahead to inspections and concession requests from the time we get our first offer. What may be forthcoming in this regard? How does this interact with the terms of each offer? No matter how urgent your need to sell, if you go too far in price concessions at the beginning, you may have no room left when inspections are completed and concession requests are made by the buyer.
As the buyer orders and pays for inspections, my job as your Listing Agent is to provide access and make sure they happen on time. I also monitor timely receipt of the inspection reports by deadline due dates. I then meet with you to go over the reports and any buyer objections or requests and help you develop a strategy to respond or counter the buyer. If there are no objections or they’re minor in nature and expense, you may opt to agree to the buyer’s requests. However, if they’re more extensive and/or were not anticipated, my job is to help you to reply in a way that saves you money, but saves the transaction, as well.
Even when a seller provides a Home Inspections and a Pest Inspection in the Seller Disclosure Package, the buyer may order his own or additional inspections that might have a more focused goal–possibly a heating contractor, a roof inspector, an electrician, etc. Each of these inspections will have deadlines for completion and submission of reports and buyer concession requests.
In some cases, I advise my clients to counter a buyer’s concession requests on the basis of information obtained from an independent 3rd party who is hired to offer an unbiased “2nd opinion.” I maintain a comprehensive list of trusted inspectors and contractors who can provide cost estimates and expert analyses. I will help you make decisions and draft responses within the contracted timeline.
My job is to get a qualified buyer to the closing table and secure your satisfaction with the net proceeds from the sale.