Home Inspection Issues – Can You Have It Your Way?

Home Inspection issues seems to have become a hot topic in the real estate market.  But can you have it your way?  When we were experiencing a Seller’s market, Buyers were striking Inspection Contingencies right out of the contract just to secure their bids.
Burger Man

The sort of inspection issues that were accepted by Buyers in the past few years of the Hot Seller’s Market are now causing negotiations to continue right up to the Closing Table.  While home prices have come down in most parts of the Country, there are still areas where prices have not been affected by the overall state of the market.

The problem with this new  viewpoint is that not all Sellers are seeing the same issues as reasons to negotiate.  They aren’t allowing Buyers to have it their way in many cases because they are now holding two mortgages!  Is it possible that Buyers have become more demanding due to the state of the economy?  Or has the media become the scapegoat in this new trend?  How many people are blaming the media for the reality of the market? Could it be that the Sellers are just not getting the fact that the market moved over to the “other side”?

Everyday we talk to other agents involved in transactions fraught with inspection issues.  Have we become so smart about homes that we have lost touch with the main reason home ownership is such a wonderful thing?  When did the American Dream become such a Nightmare?

Perhaps we have come to a point when negotiating is the new phenomenon!  Obviously something has shifted – but what?  The average home inspection lasts approximately two hours in duration.  The following is an abbreviated list of points that your Home Inspector will review with you after you have the home of your dreams inspected:

  • Driveway condition
  • Sidewalks, stoops & Decks
  • Roof age & condition (including eaves, soffits and facia boards)
  • Sprinklers, Hoses and outside drainage
  • Gutters & Downspouts
  • Siding material and condition
  • Kitchens & Baths
  • Chimneys and Fireplaces
  • Heating & Cooling Systems
  • Oil & Underground Tanks
  • Windows & Doors
  • Electric Service and Panel
  • Interior Walls, Floors & Ceilings
  • Attics
  • Basements
  • Appliances (if included)

Now this is an abbreviated list as it depends on the type of home you are purchasing and what inclusions there are.  But you get the idea, there are many issues to explore when purchasing a home.

Let us not forget that Homes are one of the single largest expenses that most people will have in their lives.  Sellers and Buyers should review all things considered in the negotiation process.   Having said that, is it any wonder that in this current market, with Home Inspection Issues many are asking Can You Have It Your Way?

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Lisa & Robert Hammerstein • Sales Associates • Keller Williams Valley Real Estate(201)391-2500

Address • 123 Tice Boulevard • Woodcliff Lake NJ 07677 •

 

 

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