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The inspector qualifications are not the issue. It is all a bargaining move but that does make a thought occur to me.
One of the bargaining moves you can make is if you can reach price agreement agreement, then throw the ball back in their court and have the contract say as is. Afterall, "they" have had an "awesome" inspection.....LOL
> I would want a second inspection that you would have to pay for
Doesn't necessarily work. The buyer does not need to accept the new inspection.
> I'm assuming the relative is not a licensed inspector
Doesn't matter. The buyer can ask anyone for an opinion on the house. At some point he will sign a document saying the inspection contingency has been satisfied. It doesn't say that he has had a "qualified home inspector" it just says that the inspection contingency has been satisified.
What does your real estate contract say? In my market we have a contract where the buyer and seller agree, in advance, to a maximum amount of repairs. Most buyers will try to find enough things wrong in order to get the max amount, but not always.
Smart sellers will only agree to a max amount that they are willing to lose. A lot of it also depends on the market and how much the buyers want the house. If it's a hot market and the buyers love the house then it's possible to negotiate a small amount in the repair rider.
It would be unusual to agree to a home inspection without having dealt with financial limits in advance.
What does your real estate contract say? In my market we have a contract where the buyer and seller agree, in advance, to a maximum amount of repairs. Most buyers will try to find enough things wrong in order to get the max amount, but not always.
Smart sellers will only agree to a max amount that they are willing to lose. A lot of it also depends on the market and how much the buyers want the house. If it's a hot market and the buyers love the house then it's possible to negotiate a small amount in the repair rider.
It would be unusual to agree to a home inspection without having dealt with financial limits in advance.
I'm not sure I really see the logic behind this. If there are legitimate items that need to be fixed and they go over the maximum then what happens? If they are indeed real issues they will most likely have to be disclosed going forward anyway.
> I'm not sure I really see the logic behind this. If there are legitimate items that need to be fixed and they go over the maximum then what happens?
If there are a large number of expensive items that need to be fixed, that were NOT apparent when the house was viewed, many buyers would just want out of the deal. Say the inspector discovers the foundation needs to be repaired, at a cost of tens of thousands and weeks of work.
If there are major issues, it's a whole new ball game. Maybe the buyers still want to go ahead, but might want major cost concessions. And maybe they just want out.
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