Real estate contract - inspection contigency

[wharton]

Originally Posted by Xelfer

It's a scare tactic, to make you think that the seller has more power in the transaction than they do. There's absolutely nothing from stopping you from asking for anything you like. Who is going to determine what constitutes "cosmetic" versus "functional?" And what if the seller doesn't like when the inspector says that something is in danger of imminent failure or is clearly damaged? "Working" doesn't necessarily mean "working as designed."

You have a lot to learn if you think this is a scare tactic. As I stated previously, I would strongly suspect that this is a seller who is far from new to the game, and has been burned in the past by idiotic "professional home inspectors" or flaky buyers. Assuming they are competently represented by their agent, I'm sure that they were advised that such a clause might limit buyers and replied that, that is the point! You question about who is going to determine what is cosmetic or functional is very clear in this case, and the answer is the seller. Pretty novel to some folks that a seller makes it clear, before the game begins, that they will not be rolling over for any an all demands, eh? As for inspectors that "claim something is in danger of imminent failure" oh, please.................... Do you think an inspector is like the old Johnny Carson "Amazing Carnac" bit, and can see into the future?

I once had a buyer who was a wreck over countless fantasy issues on my family homestead from 1915, thanks to his inspection. He wanted me to seal all the places on the slate roof where he could see tiny rays of light, while in the attic. I had to tell him that that would not be happening, as the roof was checked and repaired regularly by a slate roofing professional, and was fine. He then tells me that the "professional home inspector" found a loose stone in the interior of the bilco door style cellar entrance, and it needed to be corrected, since it was clearly in danger of falling and injuring somebody. I then had to tell him that since a walkout door was created, twenty feet away, during a renovation, nobody has used that stairway in decades, and you won't be either. Next the "potentially fatal" loose stone has been that way for decades, cannot be pried out without a prybar and sledgehammer, and isn't going anywhere or being repaired.

You are dead wrong here. The seller has as much power of negotiation in this case as the buyer allows. The seller can say " piz off" at any time, take it or leave it. I've done it many times. I built new spec. homes right thorough the great recession, and made good money every year. At the bottom of the market (inexpensive second homes in a mountain community) there was a trend of folks who decided that they were savvy vultures who were going to get incredible bargains since all sellers have no choice but to give it away. I had a number of lowball offers that I just refused to respond to. The buyer's agent would ask, "don't you want to counter?" and my answer was go away. No need to deal with idiots. The same goes for those that show up with unreasonable demands due to a "professional inspectors report". Far too many sellers fold, when they should be saying, "sorry, but that isn't going to happen".