Lipstick On A Pig - Always Get a Home Inspection -
The competitive marketplace we are currently experiencing provides for some interesting phenomenon for both Buyers and Sellers.
Buyers are having to act quickly to “secure” their “bids” on homes, forcing decisions they shouldn’t have to make in a shorter amount of time.
Sellers have the luxury of the opportunity to receive multiple offers and, oftentimes, for more than list price.
Buyers are making sacrifices and feeling pressure in order to buy at the current low price and historically low interest rates before prices rise.
Sellers are pricing properties higher than the last sale, knowing that prices are rising.
Buyers are purchasing properties in “As Is” condition for fear of losing out on an offer to another buyer.
Sellers aren’t making repairs and expecting to declare use of their title company, their lender and giving buyers only a few days to make offers.
Guidelines for acceptance of offers has shifted in the seller’s court. For this very reason, it is imperative to protect your buyers’ interests by having every type of inspector at the ready. Today’s inspection was no different.
My first time homebuyer client, has the luxury of being a cash buyer. Being a cash buyer puts her in first position and her negotiating power to the top of the offers, unlike other financed offers. But that doesn’t change our due diligence.
Today’s inspection produced a laundry list of repairs and shoddy workmanship. The roof had been patched improperly; the rolled roof wasn’t sealed properly; the kitchen had no GFCI’s, but had granite countertops and new appliances; the new refrigerator sparkled but had no icemaker even though it had the box and connections for one; and the new paint inside and out looked great, except that the new roof leak stains clearly have to be painted again once we request a new roof.
This “lipstick on a pig” phenomenon is definitely a trend that I hope disappears. Until then, make sure you get a home inspection! Your buyers will thank you!