I remember when home inspections became a part of our real
estate Buy/Sell Contracts a few years ago – actually quite a few years ago.
It was a good idea… a way for buyers to examine the home
they had chosen with more thoroughness.
The contract inspection clause allowed them to ask for corrections and
even to walk away for little to no reason.
In a fast market buyers only fussed about ‘big’ things. In a slower market, the inspection clause
became an invitation to renegotiate. In
my opinion the clause was never intended to turn a 1950’s home into a brand new
home. I believe our free market system
will correct extremes in either direction.
Inspections are important.
If they reveal problems Sellers weren’t aware of or Buyers couldn’t see
in a casual walk thru, I believe the contract should address those issues. A common sense attitude of Inspectors and
Brokers is helpful in guiding this process.
Inspections protect both Buyers and Sellers. They are a good thing. Use them wisely.
Sellers: Be
honest and forth right on your Seller’s Property Disclosure
Buyers: Don’t be
greedy and/or picky
Remember the Golden
Rule
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