Top 3 Reasons For North Pittsburgh Sellers To
Understand Buyer Motives is to make sure the closing takes place and to ensure that the deal isn’t cancelled as a result of the
Home Inspection. Normally, when a deal
is cancelled the Seller will suffer a “money hit” because the next Buyer wants
to see the report to determine what may be wrong with the home. Below are some steps a Seller can take to
help prevent a Buyer from canceling a deal.
This is Part One of a Three Part series on Why North
Pittsburgh Sellers Need To Understand Buyer Motives. Sign up today for my Blogs, so you don’t miss Part
Two!
#1 Reason-Home Inspection items…Explained in this Blog.
#2 Reason-Home Doesn’t Appraise…Explained in the next Blog.
#3 Reason-Negotiations aren’t going as well…Explained
in 2 Weeks
The Top 3 Reasons that Buyers walk away from a contract and
how Sellers can reduce the likelihood:
#1 Reason-Home
Inspection
Once a contract is signed, the Buyer has a specified amount of days to complete a home inspection. Buyers have the right to select their home inspector; however, not every home inspector has the years of experience or work history to conduct a proper home inspection. The home inspection should be conducted fairly and properly for both parties. It should be understood that every home is going to have some issues, but that items can be addressed and negotiated without having the deal cancelled.
Once a contract is signed, the Buyer has a specified amount of days to complete a home inspection. Buyers have the right to select their home inspector; however, not every home inspector has the years of experience or work history to conduct a proper home inspection. The home inspection should be conducted fairly and properly for both parties. It should be understood that every home is going to have some issues, but that items can be addressed and negotiated without having the deal cancelled.
Below are 3 ways to be certain the Home Inspection proceeds
as favorably as possible.
The first way for the Seller to ensure consistency is to require
that the Home Inspector be ASHI certified.
This should be written into the contract. By requesting an ASHI certified inspector the
Seller is secure in knowing that “Standards of Practice” will be followed. This includes an outline and check list of
how a home is inspected to include pictures.
This way the Buyer isn’t alarmed by conditions of the home which might cause
the Buyer to cancel the agreement.
The second way is for the Seller to negotiate that they will
pay for the Home Inspection ($500-$750) and to provide the Buyer a list of 5-8 ASHI
Certified Home Inspectors. The Buyer can
only pick from the list of Inspectors provided by the Seller.
Even though the inspection is being paid for by the Seller,
the Buyer is the client for the inspector.
Final reports can either be delivered to both Buyer and Seller or just
the Buyer. One way of looking at the
inspection process is to remember that it is a mutual agreement for bothparties to work together in finding a way to work out and agree upon the
condition of the property.
However, in the end, the Buyer has the final say so to move
forward and close or cancel the agreement of sale.
The third way is for the Seller to complete a full home inspection of their home using an ASHI certified inspector prior to listing the home; the Seller should commit
to specific repairs and/or replacements of items that could be, “deal breaker” causing
the Buyer to cancel the agreement.
A few of the “deal breakers” are depicted below:
