Home Buyer Inspections in Overland Park – 4 Things You Need to Know
Sellers always freak out when it’s time for home inspections when selling their Overland Park home. They ask me a million “what if” questions. My best answer is to tell them to relax. We don’t know what we don’t know.
Home inspections are done within 10 days of the effective date of the contract and are paid for by the buyer. After the home inspection is complete the buyer has the option of walking away from the contract, taking the house as is or renegotiating the sales contract. Here are 4 things you really need to know regarding the process:
- At the time of the home inspections, the sales contract is almost always renegotiated. The buyers will receive the 38+ page home inspection report and they will pick out the things that concern them the most. These are almost always safety issues.
- They can ask the seller to fix these things or they can oftentimes ask for a credit from the seller at the time of closing to be applied to the buyer’s closing costs.
- They can ask the seller to reduce the price of the house or
- The buyer can ask for a combination of things.
No matter what happens, both the buyer and the seller have to come to an agreement on repairs or either party can walk away from the sales contract.
One thing I have found in the 26 years I’ve been selling real estate in Overland Park, every home inspector is different and will come up with their own list of things wrong with a house. On one of my own houses I sold, I knew of a couple of things that would come up at the time of the home inspection and they didn’t. Don’t ever assume a home inspector is good at knowing about everything. While most of them are very experienced in one or two trades, I don’t know one who is an expert on every component of a home.
Recently a home inspector I used didn’t catch the fact that the windows leaked in the house. Big mistake. Luckily my buyers were willing to replace the windows on their dime but it concerned me that the inspector didn’t catch it. Needless to say, I quit using that home inspector. I can’t afford to have my buyers misrepresented. Regardless, at the time of negotiating the home inspection repairs, this is where your agent can make or break the deal. If your agent isn’t a good negotiator, you could lose the house as well as the cost of the inspection. There are a million different ways to negotiate a real estate deal, make sure your agent is on board and is looking out for your best interests.
My best advice for home sellers and home buyers is at the time of the home inspections, take a breath and relax. Buyers shouldn’t ask for the moon and sellers should be fair. The buyers want to buy the house and the sellers want to sell the house. Be realistic and negotiate so both parties win. Home buyer inspections in Overland Park don’t have to be so hard. Everyone needs to work together to get the house sold.
If you need recommendations for a home inspector or have further questions regarding the process, call me direct at (913) 515-3250 or get started here.