Bryan Vogt: Welcome back, this is Bryan Vogt with Ready, Set, Sold. Thanks so much for joining us again. Hey, we’ve gone through the updating, why it’s so important to have those updates. And I want to kind of tie in a little bit with that, and that is the $5,000 tip of the week that we either help you get $5,000 more, or hopefully save you $5,000 more on the sale of your home.
This has to do with pre-inspections. Many sellers may not be aware of it, not all agents do it, I’ll be honest with you there, I think more should, but hopefully your agent has given you the opportunity to have a pre-inspection. And what they really means is, the buyer’s going to have that inspection. But to get ahead of the game, to have that inspection before the buyer has their inspection. And the reason for that, is very simple, and I’ll give you kind of a case in point. It just happened recently.
Someone puts their house on the market. It’s a fantastic house, beautiful house. They have it on the market three weeks, they get a great price. They’re happy as they could be. They’re moving to Arkansas, just so happened, and as soon as they got the offer, they went down to Arkansas and they put an offer on another home, and they said, “Okay once this sells, we’re going to buy this one.”
And then they had the home inspection done. And they had the home inspection, that’s usually about 7 and 10 days later, usually after you have the acceptance part. In this situation what happened, was they found water in the crawl space. Now, there’s four elements, and only four elements that will knock you out that the seller has no recourse to, and that is in a contract, and that is the water found; also, if there is environmental defect, meaning something along that way; termite, or structural.
Well, this was water. Now, doesn’t mean that every buyer will do this, but in this situation, guess what, the buyer walked away. That put a stop to everything. So, now the sellers had to go ahead and get the thing fixed anyway. They were going to have disclose and went ahead, got it fixed. They were going to do that anyway for the other buyer, but the buyer walked away. Long story short, over the period of time, because now it goes back on the market, buyer’s perception are, “What’s going on?”
They took a hit of over $5,000 on the next pricing, the next offer. And they also lost the house in Arkansas, because they wouldn’t wait, because of the timeline. Get a pre-inspection, costs $500. You get everything done.You get everything done before you put your house on the market. It is so, so easy to do. Again, if your agent isn’t telling you about it, please, please insert asking around, you know, get your own home inspection if you have to.
I’ve seen this happen with some minor structural thing. But if it’s structural, they can walk, and I’ve seen it with termites. Same scenarios play out with a buyer would tweet, “Just walked away.” And when you have that situation, again, you’re on the market longer period of time, very good chance you’re not going to get the same offer as you did the first time.
So, with that said, I want to make that you get the pre-inspection. Save you a lot of pain, struggle, and time, and money, and it’s less than $500 in most situations. This doesn’t mean it’ll happen every time, but let’s, you know, let’s think ahead. Let’s always be ahead of the game. Thanks so much for joining us. We’ll be talking about what not to update in next week’s segments. Make it a great day. And make it a great week.
Ready Set Sold with Bryan Vogt #13-05: $5000 tip of the week: The value of pre-inspections
August 19, 2017