Let’s say that you’ve received an Offer to Purchase that works for you and are now Under Contract. Congratulations, but let’s not get too excited yet.
The most critical stage of the ‘Under Contract’ period is what we call the ‘Inspection Phase’. The Buyer will hire a licensed Inspector to come out and find everything wrong with your home. Don’t worry, they aren’t jerks about it, but they are good at what they do. The Buyer then has the right to request remedies for anything they deem ‘critical’ – such as any of the ‘red flags’ listed below – and may ask for you to fix it, provide a credit or reduce the purchase price to cover the repair/replacement.
Tough negotiation is our specialty and we fight hard to protect your interests without losing the Buyer, but why take an unnecessary risk? If you know that you have an issue on this list, let’s address it before Listing so that you can rest a little easier once we go Under Contract. It’s also a great idea to consider doing a Pre-Inspection to see if there are any monsters under the bed that you didn’t know about.
Learn More About Inspections and Pre-Inspections
- When Does a Pre-Inspection Make Sense
- Selling Made Easy – Choosing an Inspector
- What Inspector would YOU use? Check out our list of Recommended Inspectors here.