Buyers' Agent........Grind Sirloin Not Our Seller!!!

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763

 

home inspectionWhat are the challenges that surface after most home inspections are done on a pending listing?  There is rarely a perfect home.  Perfection and construction are not two words that can be used in the same sentence.  There are too many adversarial factors involved such as changing seasons with the use of dimensional lumber!!! 

After that home inspection is complete and a laundry list is submitted with a chunk of change to be credited to the buyer or taken off the previously agreed upon price, what’s the next step?  Our next move is to review the list and apply a realistic cost of repair.  Some of the items must be repaired whether this buyer purchases the home or another buyer because of safety issues.  Those items will be remedied at the sellers’ expense by a licensed professional.  We always recommend that our sellers take care of electrical issues, for safety purposes.

The best part of having a home inspection with the buyers’ dime is that now we can go through the property and repair all minor items.  If there is a major repair, we disclose it from this day forth.  “When one train leaves, there’s always another one right behind it” and that’s the message to the buyers’ agent who uses the home inspection as a renegotiating tool to grind the seller for a better price.  We never fall victim to that ploy!! 

Posted by

Barbara Todaro, sales manager of RE/MAX Executive Realty 

Team Leader of The Kuney-Todaro Team

308 W. Central St

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

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Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hi Ginny....they will do that....we find that very rarely do we lose a deal because of a home inspection....and very rarely does the price change!!

Jul 16, 2011 02:11 PM #8
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Loreena Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
Realtor® | Frisco TX Community Ambassador

I've gone through once where the buyer requested the most bizarre things and threathening to pull out if the seller doesnt comply. It got my sellers mad enough to feel like they've been held hostage. Even after the seller complied to some craziness, buyer decided to pull out. They were never serious to begin with. Thank God we got another offer 1 week later. A good home is a good home. Buyers always recognize it.

Jul 16, 2011 02:37 PM #9
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Loreena....some buyers are out there to find a good home and then hammer until they get the number they want....if the seller complies, it's because the seller is desperate and it becomes obvious....if the seller says no and kills the deal, the buyer will usually agree if the home is a good home....have to learn to say no....

Jul 16, 2011 03:46 PM #10
Rainmaker
50,548
Jonathan Dalton
Realty ONE Group - Glendale, AZ

One of the nice things about the contract in Arizona is it doesn't allow for such things. Buyers can ask for repairs, take the house as is or cancel. Not to say repair allowances don't happen but the vast majority that I have seen have been offered by the seller, not demanded by the buyer.

Jul 16, 2011 04:08 PM #11
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Jonathan.....that's a good thing....in our area, we can almost expect that with every home inspection the buyer will be looking for something....they'll at least try to get something....

Jul 16, 2011 04:13 PM #12
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Jerry Newman
Green Home Realty, 210-789-4216,www.Selling-SanAntonioHomes.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Barbara, Safety and Health issues should always be everyone's concerns. I can't believe those Buyer's agent that try to ask for more than that, just to get more out of the sellers. I just recently negotiated  for repairs for an electrical box from the sellers, and it wasn't that much to ask, since it was a major concern.

Jul 16, 2011 04:18 PM #13
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Jerry....we've had buyers' agents who ask for thousands of dollars for an adjustment to the sale price for minor issues....not all are that bad, but some are....

Jul 16, 2011 04:20 PM #14
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Karen Fiddler, Broker/Realtor
HOM Sotheby's Intl Realty, 949-510-2395 - Laguna Beach, CA
Laguna Beach & Lake Arrowhead, CA (949)510-2395

Everything can be taken to extremes, but when I'm the buyer's agent...I'm going to push for as much as I feel is needed for my buyers. Glad I don't work in your area though....you're tough.

Jul 16, 2011 04:23 PM #15
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Karen.....needed and not needed are two different things.....our job is to protect the seller from the vultures and we do a good job of that.......our listings have plenty of activity and there's no reason to give in to every whim.....I'm soft!!! my team members are tough!!! 

Jul 16, 2011 04:30 PM #16
Rainmaker
528,906
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

I always tell my buyers...there is no such thing as a perfect house.  Structural issues, water, major items that were not noticeable when we looked at the house.  If we saw them when we looked, it would have been reflected in the offer price anyway. 

Jul 16, 2011 05:29 PM #17
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Christine.....you need to learn the Franklin area....we have most of the listings in this town.....this may be a breath of fresh air....

Jul 16, 2011 05:46 PM #18
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Michael Thornton
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspector - Nashville, TN area - 615.661.0297

Barbara, you are right. There are no perfect houses on this plane of existence. I tell folks, houses were built by men, and we all know, men are not perfect...

Jul 16, 2011 08:27 PM #19
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Michael....every house has flaws....even multi million dollar homes....there's not an inpector anywhere who could not find a flaw in every home....

Jul 16, 2011 08:31 PM #20
Rainmaker
81,081
Virginia Dean
Keller Williams Realty - Visalia, CA

Great post Barbara, I suggested it.

You offered a very good explanation of what should and should not be asked for after an inspection.

Thanks for your expertise.

By the way, I added you to my teachers and mentors circle on Google+

Jul 16, 2011 08:50 PM #21
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hi Virginia.....I just can't bring myself to do another "facebook" type thing....google+ is not on my list....but realbird was a great addition.....I hope you're using that....and thanks for the suggest.

Jul 16, 2011 08:53 PM #22
Rainmaker
81,081
Virginia Dean
Keller Williams Realty - Visalia, CA

Barbara, joined realbird but need to figure out how to use it for the team listings...too much to read, too little time.

thanks for your response

 

Jul 16, 2011 10:53 PM #23
Rainmaker
746,006
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Barbara, I always tell my buyers to be realistic. Have the seller repair things that are safety issues and be reasonable about it.

Jul 16, 2011 11:50 PM #24
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Virginia...there's a webinar every monday.....they show you the basics and it's great.

Jackie....that's the way to do it....

Jul 17, 2011 01:03 AM #25
Rainmaker
593,040
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

I love viewing listings that have already been inspected!  I also urge sellers to get an inspection...even if they don't repair items on the inspectors list, we have a general idea what to expect. 

Jul 17, 2011 05:53 AM #26
Rainmaker
2,141,413
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Laura....I can understand that....sometimes the entire report is in hand and can be shared....

Jul 17, 2011 06:21 AM #27
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