The current seller's market for houses can mean that your offer on a home will be competing with other offers. In a May 2013 article titled, "9 Ways to Make Your Home Offer Irresistible", Kiplinger's Personal Finance magazine offers strategies to make your bid stand out from the others in the eyes of the sellers.
Suggestion #7 is to make your offer's contingency clauses palatable for the sellers. And one way to do that is to, in the home-inspection contingency clause in the offer you make on a home, tell the sellers that you will cover the cost of any repairs recommended following the home inspection. If those repairs get too pricey, you can back out of the deal. Telling the sellers that they won't get stuck paying for a new roof, or new furnace/air conditioner, or similar repairs on a house they are leaving, might give your offer an edge over others. It's an interesting strategy for the magazine to suggest.
Your real estate professional can guide you as to what would be best for you to do in your individual situation. But here's an explanation of the home inspection process so that you'll understand it all. When you hire Complete Home Inspection to do your Kansas City home inspection, I am NOT the "house police" and can't require repairs to be made. I will thoroughly inspect the property and ascertain whether, at the time of the inspection, the house's appliances and systems are functioning as intended. I will also inspect the structure and exterior of the house. You will receive a complete report following the inspection, including photos and a summary page that lists recommended repairs.
Most people use the summary of recommended repairs as a place to start negotiating. Sometimes repairs are made, other times a change in the price of the home is worked out. If you're working with a real estate agent, ask him or her. It is important to take the age, price and condition of the house into consideration, asking only for important, expensive or safety-related items to be corrected. Obviously, if you follow the Kiplinger's advice, that wouldn't be an option for you.
So, it's an interesting new wrinkle for you to consider in your home-buying process, one that's brought on by the current seller's market in home sales. Ask your real estate professional what your best strategy would be, so that you're protected throughout the process.
Whole house inspections, condo inspections, radon testing, mold testing, and more, we do it all for you. Call or E-mail today to schedule your Complete Home Inspection, 913-268-0222, www.completehomeinspectionkc.com.
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ReplyDeleteAt what time you want to purchase a home you must know all about the procedure. For that you must hire a Los Angeles certified home inspector, they will give you the proper suggestion. You are able to trust on them easily.
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