Should You Accept the Previous Buyer’s Inspection Report?
Sometimes a home falls out of contract. Most buyers assume that it is related to a bad home inspection, but there are many reasons for a home to come back on the market that are unrelated to the condition of the home. During the contingency period, most buyers can cancel for almost any reason – or even no reason.
Of course, the listing agent and seller are motivated to get the home back under contract as quickly as possible and may offer the previous buyer’s home inspection report to the new buyer. Some may even ask that the new buyer remove their right to a home inspection, based on the one they offer.
If you have been offered the previous buyer’s inspection report, you’re probably wondering if you should accept it and remove that contingency. In a fast-moving seller’s market, it might be tempting, but before you accept the report, there are a few considerations:
Before accepting the inspection, do your research. Who did the inspection? Is it a reputable, licensed home inspector? Check public review sites for comments and customer satisfaction. Check their license with the issuing board and see if they have had any violations or suspensions.
Once you verify the company, give them a call. Make sure they have performed a comprehensive inspection. Many companies offer both a comprehensive and a simpler, cheaper, visual inspection.
Finally, read the report carefully. If there are issues discovered, ask for clarification and consider paying for the inspector to meet you at the home to discuss the report in person with you.
Accepting the home inspection might seem like a good idea – both to make your offer more appealing to the seller and to save a few dollars – but before you remove the home inspection contingency, do your homework. Make sure you understand the real condition of the property before you buy it.
Author:Kirsten Walker Phone: 919-656-6268 Dated: November 19th 2020 Views: 121 About Kirsten: Kirsten Walker was born and raised in Cary, NC. Watching the area grow up and take off over the year...
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Kirsten Walker was born and raised in Cary, NC. Watching the area grow up and take off over the years has translated into a passion for helping her clients in the Triangle area find their perfect place to call home. Her deep roots in the area have given her the extensive knowledge, network connection, and levelheadedness to understand and serve her well in the real estate market.
Kirsten has the utmost respect for her clients, and seeks to empower buyers and sellers, translating the most up-to-date market information into winning strategies so they can feel confident in making these significant decisions. Sellers can equally rely on her expert guidance, taking the confusion and anxiety out of t he process. Offering transparency and a keen marketing sense, Kirsten will work vigorously to ensure a return on your investment.
Kirsten specializes in the thriving Triangle area of North Carolina and the surrounding communities. She enjoys all the little things that make a house a home with her husband, three kids, and three dogs. Her personal interests include spending quality time with friends and family and getting out to try new things around the community. Frequently forging lasting friendships from client relationships, Kirsten finds time spent one-on-one invaluable. Getting to know individual preferences and histories is key to her professional philosophy and client commitment.
Kirsten is an engaging, positive, proactive client advocate, who is humbled by the opportunity to serve the community. Her hardworking and encouraging personality show through immediately and her knowledge and dedication ensure your satisfaction.