Buying and selling a home can be a stressful process. Between financing, scheduling showings in a crazy market, and making a competitive offer, simply finding the right house is a challenge. Then, once an offer is accepted, there are countless negotiations and points where the buyer or seller could change their mind. Real estate agents are a crucial part of navigating the home buying process smoothly.
An initial step once a home purchase offer is accepted is scheduling an inspection. Many buyers are removing inspection contingencies to make their offers competitive in low-inventory markets. However, real estate agents should be careful here! Even if the buyer waives or limits an inspection, real estate agents should recommend performing an inspection anyway. This will supply their buyers with vital information during the closing process. Here are three reasons every real estate agent needs to have a home inspection in their buyer’s home offer.
Add an Extra Layer of Protection for the Buyer
Inspection deadlines give the buyer time to retract the offer if they choose. For example, if the house needs too much work or if the seller won’t budge in negotiations, the buyer can back out. During the inspection, the inspector identifies if new additions are permitted, if harmful chemicals exist (like radon or carbon monoxide), and more. This clear picture of the home gives the buyer an extra layer of protection in the buying process.
Inspections Help Plan for Future Costs
Even when the home is listed ‘as-is,’ an inspection is essential to identify immediate repair needs. Inspection reports will help the buyer plan financing for projects before taking ownership of the home. From the seller’s perspective, inspections are crucial to understanding their out-of-pocket costs before the closing date. The buyer will likely present a list of home repairs that the seller can choose to negotiate. This process helps both parties get a better deal and gives the seller a list of repairs before closing day.
Real Estate Agents Can Use Home Inspections for Negotiation Leverage
Because home inspections provide a detailed report of the home, the buyer has leverage in negotiations. Real estate agents will advise their clients on what to ask the seller to fix before closing. On the opposite side, inspections give the seller insight into what repairs to complete before the final sale. The sellers’ agent can advise what may be considered “too much” from the buyer’s request. This negotiation process protects both the buyer and seller in the sale of the house.
Hire an Experienced Home Inspection Team
HS Restoration has experienced professionals for all your home inspection needs. We provide a 100% satisfaction guarantee for your home purchase or repair. If you have damage to your home, don’t take only your contractor’s word repairs are complete. Our inspections include a full report and documentation of damages with pictures, as well as cleaning recommendations. Plus, we include a Free 100-Day Limited Warranty that covers most major home systems. Contact us to schedule your home inspection today!