Proliferating Home Inspection Tests – Part Two

Seller’s Market Side Effects

In addition to the rationale I presented in “Proliferating Home Inspection Tests – Part One,” anecdotally, I’m hearing one other explanation for why more home Buyers today are doing more tests:  it’s a reaction to the very fast, very competitive 2017 seller’s market.

So, Buyers are essentially saying to Sellers, “Fine, we’ll pay what we have to get a house — often times in multiple offers.  But, if we’re going to pay top dollar, we expect the home to be in tip-top condition.”

Revisiting the Seller’s Disclosure

I certainly understand that mindset.

But, at the end of the day (or more accurately, the Buyer’s inspection period), the controlling question is still, “did the Buyer’s inspection uncover any material defects that weren’t previously known to the Buyer and Seller?”

If the answer’s “yes,” the Seller can expect to either repair the item, or make an equivalent price concession — if not for the current Buyer, then the next one.

If the answer is “no,” the Buyer’s usually out of luck.



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