As you may already know, new rules pertaining to real estate transactions in 2013 drastically alter how buyers react to my inspection findings.
Now, as opposed you years past, a buyer can back out of a sale based on the inspection without disclosing any data to the seller.
How does this affect real estate? Its a big deal in a few ways:
for the seller, he/she may never know why transactions fall through, and it could be one simple repair, but the buyer has no obligation to let you know why he’s backing out. What can a seller do about this? A pre listing inspection is now even more valuable. Having me inspect the home, first, will find items that will hinder the sale. It will afford the seller a good opportunity to repair any items on their terms. This may also be an opportunity to disclose an item that will not be addressed. But putting a defect on the disclosure sheet removes it from the negotiating table as any offer is made with this condition taken into account.
For the buyer, any item can be a way to back out of the sale. But a quality inspection is still key here too. You don’t want to enter into a transaction and find out later on that there was an issue that would have made you change your mind, or at least ask for a concession.
For more info on these items, or questions about using me for your home inspection needs, check out the web site www.homeinspectorri.com or feel free to call.
Your Home Inspector,
Auger Entrprises, Inc.