Should I be Worried about Inspections?

Should I be Worried about Inspections? Inspection day jitters have nothing on the inspection report anxiety, am I right? I completely understand how terrifying inspection reports can be. Clients think these can make or break deals, and the truth is regularly, they do not. I have counseled so many clients during this time, and I am not stretching the truth when I say, counsel, clients, because I feel more like a counselor! To calm nerves for buyers and sellers, here are the possible options for responding to an inspection report. 

First, as a buyer agent, I always recommend hiring an independent inspector, unless the inspection report was conducted prior by an inspection agency that I recommend. When the report is handed over to you, your options will be to accept the inspection as is and move to closing, reject the inspection and terminate deal, accept the inspection but implement contingencies on the sale for repairs, or ask for money off. Chances are in the inspection things will come up that are just normal wear and tear and easily remedied. When it is more serious, this is the best time to have the talk with your realtor about how to move forward with a deal that has some issues. As a sellers agent, I have the following options for a seller following the receipt of an inspection report. If the buyer decides to apply contingencies, a seller can reject these and terminate a deal, or negotiate with their realtor on some of the items. Lots of times these can be minor and you can move forward. When they are more substantial, say a roof or plumbing issues, you should just rely on the sound advice of an experienced realtor to make sure that you are not caving into demands to save a deal. 

The bottom line on the inspections report day is not to panic. These are in place for your own safety and while many buyers are not requiring inspections or waiving contingency to get their deal accepted, I still feel more comfortable advising my buyers to get inspections to protect their interests. If you are considering buying on The Main Line or are looking to invest in rental properties in an area with a proximity to Philadelphia and New York, amazing growth rates, and low population density, I am happy to discuss what is available. See all of my resources below for buyers and sellers.

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‼️Don’t Panic, It’s Just an Inspection 🧐
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