7 Tips To Help Your Seller (and Transaction) Survive The Home Inspection Process
Help guide your seller through the home inspection process and avoid any roadblocks by following these tips!
1. SET SELLER’S EXPECTATIONS
When you represent the seller in a transaction, take the time to explain to them that it is the inspector’s job to find every little thing that appears to be a problem to the buyer, and that they will want the same when they go to purchase their new home.
2. BRING IN THE PROFESSIONAL
Consider hiring an inspector to do a pre-inspection. If the seller knows the majority of the items that will come up, they have the opportunity to get the repairs completed by the contractor of their choice. This could save them money on repairs and keep them from negotiating their original sales price down to a point where they don’t have the money to complete the repairs.
3. EDUCATE YOUR SELLER
Provide a list of common inspection findings, and do a visual inspection with the homeowner.
4. REVIEW SELLER’S DISCLOSURE
Ask your seller to exclude any items on the seller’s disclosure that they know they’re not willing to repair. Then, thoroughly review the seller’s disclosure prior to listing.
5. SET EXPECTATIONS WITH BUYER’S AGENT
At the time of the offer, discuss your seller’s inspection and resolution expectations and clearly communicate that to the buyer’s agent. If the seller negotiates a price in which they feel they will not do any repairs, the buyer’s agent and buyer should know that — and all parties should put it in writing.
6. ENSURE BUYER HAS HOMEOWNER’S INSURANCE
Follow up with the buyer’s agent regarding whether or not the buyer has procured homeowner’s insurance during the inspection period.
7. USE CORRECT PAPERWORK
Do not use the regular Amendment form to describe the agreed-upon repairs or cash credit instead of the formal Resolution of Unacceptable Conditions Amendment. If you do not use the Resolution of Unacceptable Conditions, the buyer doesn’t formally release the seller and agents from any further liability or obligation for the property’s condition.
The key to the inspection process is to communicate with everyone. Don’t ever assume that the buyer or buyer’s agent knows what your seller is thinking. With your seller’s permission, share their expectations with the other parties involved.
