Step 16: The Home Inspection

 

The buyer’s Realtor will schedule the inspection through Showing Time, and you will confirm or decline.  Most inspectors do not work evenings or weekends so usually the inspection takes place on a weekday during business hours. It’s essential that the home inspection occur quickly as it often takes the inspector 1-2 days to write the report after the inspection is done.

Sellers should not be present for the home inspection. Instead, it’s a time for the buyer and the buyer’s Realtor to be alone on the property with the inspector.

For condos, plan to be gone for 2 hours.  For single-family homes, the inspection can take 3 – 4 hours depending on the size of the house.  The home should look just like it did for the showings with beds made, dishes put away, pets out of the home, etc.

The buyer will review the inspection report, and either the buyer’s Realtor or attorney will ask us for any credits or repairs the buyer wants via a Buyer’s Inspection Response.

We’ll then negotiate back and forth with a Seller’s Inspection Response and hopefully come to an agreement. If significant problems are found during the inspection, the buyer does have the right to walk away from the deal, and the earnest money will be returned to him/her.

Any agreed-upon repairs need to be completed a week before the final walk-through, which usually occurs the day before or the day of closing. Receipts need to be provided to the buyer showing the required work was completed and paid for in full before the walkthrough.

 

 

Posted on November 24, 2018 at 2:50 am
Lee Ann Balta | Category: Seller Step by Step

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