In the King county real estate market it’s fairly typical that a buyer will make an offer subject to a home inspection.
This means that during the first few days or weeks in contract they will arrange to have an inspector out to the home to check things out. The inspection will typically take 2 to 3 hours and the buyer’s agent will be accommodating the inspector’s entry into the home. Unless the home is vacant, you will know what time the inspection is in advance.
The most common practice is for the seller to be absent during this time. Real estate agents may also ask the buyer to bring family by to see the home during this time, to take measurements for rooms they may want to paint or buy furniture for and may want to talk about their intentions for the home. The seller’s presence can stifle the buyer’s need to feel comfortable about the home purchase. It’s okay to give the buyer’s a little room in this regard as this process actually helps to ensure the rest of process will go along smoothly.
Some of the more common non-critical inspection issues include the following: clean rain gutters, attach earthquake straps on water heaters, remove all items from crawl space, re-caulk bathrooms or kitchen areas, have the furnace serviced, replace any rotten wood on decks or siding, replace windows with broken seals, and cut vegetation back to allow at least 6 inches from home.
Now is a great time to look through the home and see if there are any areas that could use some extra attention. Be sure to have the home as tidy as possible during the inspection as a home that looks well and feels well cared for will help comfort the home buyer that they have made a sound financial decision.
The buyers will provide the listing agent with their response on or before the date the inspection review is set to expire.
They will respond to the seller with one of four options
1) the inspection is approved
2) the inspection is not approved and they would like a number of items remedied or a monetary consideration of some sort
3) they may ask for an additional more specialized inspection although this is rare and is usually limited to items the require specialized expertise above and beyond what the home inspector might have. (the most common additional inspection is calling for an electrician to assess a potential hazard)
3) the inspection is not approved and they no longer wish to purchase the home.
Do not panic as 99% of the time, the buyer will choose the second option. Remember it is the inspector’s job to find faults and even brand new homes built to high standards can have a few items that require attention.
Everything is negotiable and once your agent has the response from the buyer they can work to determine which items are reasonable and which items might be okay to decline. Your REALTOR can help recommend contractors too as well as coordinate getting bids and some of the work issues.
I hope this blog post helps. You can always click here to contact me today if you have additional questions. I’d be delighted to help.