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Sunday, March 07, 2010

No Deal Busters Allowed – How to Save a Real Estate Deal Even With Home Inspection Problems!

I have seen more deals go south as a result of the home inspection than for any other reason.  It is for this reason I always recommend a pre-listing home inspection

But few sellers take this step and would rather deal with the issues later.

It is at this point a seller must be reminded that responsiveness to inspection issues is the key to saving the deal.  This needs to be in every listing presentation by every real estate agent.

At some point you, as a seller, you will receive an offer to purchase your property.  The offer will likely include an inspection contingency.  All buyers should have an inspection contingency in any offer - period. I would not even buy a used car without having a mechanic look it over!

How a seller responds depends on the circumstances of sale. 

In a short sale or foreclosure situation the seller is probably selling "as is" so there is usually only a take it or leave option for the buyer.

In a “normal” transaction the options are usually: (1) deal with the problems or (2) offer a dollar concession for the buyer to proceed and deal with the issues later.  Depending on the issue(s) and if a loan is involved some issues must be corrected or the loan will not happen!

How quickly you respond is key - not necessarily what your response is but rather showing your willingness to save the deal.

Don't let the inspection be a deal buster. Better yet, get the pre-listing inspection done so you can avoid this stress!

Gary Waters, Florida licensed real estate agent, Bucci Realty, Rockledge, Florida, working exclusively with Century 21 Baytree Realty.

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