Why do sellers leave thousands of dollars on the table at closing and what could they do to prevent such losses?
The answer is they opt not to have a home inspection done prior to listing their on the market.
Both sellers and buyer seek to have leverage at the negotiating table. Sellers seek the highest and best price for their property, while buyers seek the most affordable price for their new acquisition.
Both sides have access to this negotiating tool. The seller can utilize the Home Inspection Report to deal with any irregularities the inspector may uncover during a routine home inspection. The seller may choose to make the repairs prior to listing or forego the repairs and negotiate them prior to closing.
The buyer also relies on their own independent Home Inspection Report to (1) confirm the seller has in fact made the stated repairs, or (2) use his own report to negotiate a price reduction based upon estimates to accomplish the necessary repairs.
The Home Inspection Report is a tool that benefits both seller and buyer. It is a tool designed to safeguard the interests of both parties during the transaction.
An important note:
The Home Inspection Report is not an appraisal, it does not determine market value, nor is it a municipal inspection verifying code compliance. The report does not make claims that a component of the house will never fail or need repair in the future.
No comments:
Post a Comment