Thursday, September 28, 2017

Should you worry if a seller says he/she will only accept your offer if you agree not to cancel the contract based on the home inspection?
Cell:  (301)943-4370

Every jurisdiction and situation is unique when it comes to home inspection contingencies in a sales contract. 

Here's one way to see it, home sellers. Buyers with general inspections/as is and also opting to walk away if unhappy with the inspection is intended to make offers more attractive, that sellers don't have to further budget for requests/repairs as a result of the inspection. Some buyers are ok saying as is and no backing out. A number of buyers want the option to back out just in case something big,unexpected and overwhelming comes up at the inspection.

I have seen some sellers (via their realtors) counter offers saying that buyers cannot void a contract based on a home inspection and must negotiate.  It is a way for sellers to make it harder for buyers to get out of contracts, telling the buyers that they may try to negotiate inspection items of concern with their sellers but they cannot just cancel the contract because they are unhappy with the report.
This is a strong negotiating move for sellers and it  could possibly turn off buyers, make them think twice about agreeing to a contract with sellers if they like but aren't in love with the house. Buyers who really love a house, are confident and experienced in making home repairs, improvements may more comfortable accepting a contract when they cannot back out on the home inspection contingency...particularly if they feel they are getting the home at a good price.  It can be a good move by a home seller when he or she has multiple offers on a home, trying to make 1 offer a lot more favorable to the sellers than the others, if the other offers are pretty similar.  If you are a buyer and don't think you are in a bidding war with other buyers on the house, I would not agree to this unless you are getting a real sweetheart of a deal on the home, no matter how confident and experienced you are in home repairs and improvements.

Whenever a family member, friend or colleague mentions to you that he or she is thinking of moving. please make sure to have them contact me for a free and confidential no hassle consultation.  I will take great care in representing their interests and making it a smooth move.  Even if they aren't looking to move but have a real estate question, I would love to speak with them.  I always have time for and greatly appreciate referrals.

Life is good!

Cell/Direct:  (301)943-4370
Office:  (301)921-4500 - ask for Adam
Licensed in MD & DC
RE/MAX Realty Group
information deemed to be accurate but not guaranteed

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