Home Inspections Are A Must Even Though They Are The Buyer's Option!
Recently a buyer didn't hire an inspection because he didn't want to pay an inspector. Problems were discovered 2 months after closing, and the buyer had to fix them. Sellers do not always know if there is a problem in their home. They are only required to disclose problems they know about to the buyer.
Many homes in today's market are bank owned. There is not even a seller to contact that knows anything about the condition of the home and property. Most banks never seen the home. An inspection is always a must in my book no matter what home and no matter who the seller is.
The Utah Real Estate Purchase Contract allows time for the buyers to have inspections and complete their due diligence. They can cancel the contract or make a list of objections to see if the seller will fix them. The seller may or may not be willing to fix them. This is a time for negotiations regarding the buyer's objections. Real Estate Agents are trained to help with this process. All of the due diligence and negotiations regarding the objections must be decided by 5 p.m. mountain time on the due diligence deadline.
After buyers complete a thorough inspection of the home and property, I strongly recommend that they inspect the neighborhood, crime rate, churches, schools, and etc. In the January 2012 "Today's Buyer's Rep," there is an article on Buyer Representation that states, "There are also certain things buyer's reps are not allowed to do for you, such as advise you on which neighborhoods are better than others in terms of schools, crime rates or population demographics. Fair Housing Laws state they can only point you to sources of this information, helping you make your own decisions on these and other matters." Ask your REALTOR what sources are available for you to resolve the questions that concern you.
Buyers have the responsibility to do their due diligence before their inspection time period is over. Buyers be sure to make sure that you take the time now when something might be able to be negotiated rather than later after the sale has closed and you have purchased the home as is.
Janet Naisbitt-Bagley will work hard to help your transaction go smoothly. Call Janet's team at ERA Realty Center at 435-865-1019 or email naisbitt@infowest.com for help with all your real estate needs. Check out the homes for sale at www.homesincedarcity.com. Call Janet's team for your free list and tour.
Posted at 10:47AM Feb 17, 2012 by Janet Naisbitt-Bagley in Real Estate | Comments[0]
