You should never waive a home inspection even if it is "for information only", meaning that the seller will not make any repairs. A home is one of the biggest investments that one will make and one has a responsibility to who him/herself to know the property condition of a home that he/she will live in (or rent out if investment property).
***There are proposed changes to the regional sales contract in MD/DC, where the home inspection addendum will no longer have one list of "property condition" items and a second list of other inspection items you want a seller to fix. This is probably because people have different opinions as to what is a property condition issue and what is not. It causes disputes in real estate transactions when agents and attorneys have differing opinions,which may cause a contract to fall apart.
Moving forward, if buyers really wants inspection items to be be repaired by the home sellers, the most likely scenario in which we will see this happen is when inspection item(s) will prevent a mortgage lender from funding the loan. This could be the case with FHA loans and other loan programs as well. So when we write a contract on a home you want to buy,we will address this important issue.
As a home seller,you want to look at the home inspection items with your realtor and determine what seem like big issues and small issues. You may even ask your agent to talk to the buyer's lender and/or lenders that your realtor works with to find out what they see as issues that could prevent a loan from being funded. If an item would prevent the loan from being funded if not addressed,I would give a lot of pause if I was a home seller to repairing the item to keep the deal together. For other items,I would get an idea of the costs...if they are expensive repair items,a buyer may give serious thoughts to cancelling a contract. At the same time, as a seller you should not be a pushover. Just because a buyer asks you to fix an item from the home inspection,don't automatically say yes. Really analyze the full picture. Do you feel the buyer is getting a good deal/fair deal,is making reasonable/unreasonable requests and again ask your agent to consult with a lender and ascertain what if any inspection items would prevent the buyer's loan from going through.
If you or someone you know is thinking of buying or selling a home,please let me know. I always have time for your referrals and am here to help.
Life is good!
Adam
Licensed in MD & DC
CELL: (301)943-4370
adambashein@mris.com
www.basheinhomes.info
(o)301-718-4100 ask for Adam
Adam Bashein
Weichert Realtors
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