Getting a house under contract is always a victory, but it can go south very quickly if you haven’t prepared your clients for the inspection period. I couldn’t find any statistics on this, but I can tell you, most transactions that “bust” do so during the inspection period, and that mostly stems from the agent’s failure to manage their clients’ expectations.
Any house, old or new, is going to have problems. In our consumer-focused society, when a consumer is buying a product, they often demand perfection. Additionally, the seller has been living with the house “as-is” and likely doesn’t realize the extent of issues in their home. The very best thing you can to bridge the gap between your clients’ mentality, and a house’s reality, is to have a discussion before the inspection to prepare them.
An inspector is going to go over the house with a fine tooth comb, and expose everything that is a problem and that could be a problem in the future. It’s important to understand, though, that everything can be repaired, and that in most cases, any major repairs will need to be addressed before the house can sell.
Most items fall under these two categories:
- Deferred Maintenance – Most people are living their day-to-day with little awareness of these issues, or just work around them. A leaky faucet, a door that sticks, or an electrical outlet that doesn’t work, are just a few examples.
- Major Systems – These are the biggies, and what we’re really looking for in an inspection. The air conditioner, roof, foundation, electrical system, and larger plumbing issues.
The idea here is to look for major system problems, be reasonable with the deferred maintenance, and through it all, to maintain a problem solving persona, and a positive attitude.
Listen to today’s podcast with Brett Creager to learn more!