Buyers walked after inspection (disclosure, negotiation, offers, approved)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I sorta think that you have to be able to read people and adjust on the fly.
One real estate agent I know was so good at this sorta think that he fit the prototypical "sell ice to eskimos" adage. If some buyer would come in all nervous he knew just the rest approach to calm them down. If they were too laid back and not eager enough to get the deal done he would put just the rest amount of interest on them so they would not miss an opportunity. Not a pressure sorta thing, just to keep things moving.
Anyhow that is probably the best approach. Now sometimes, if you have the chance, you can use a similar approach to sorta "blunt the attack" of the overly concerned parent / random dude -- if you can find out what they do / did for a living MOST people would rather talk about that then pick apart a house. Or if you can get a clue to their lifestyle / hobbies you can often use that as a entry to conversation. Anything to relate to them as a person and not an adversary that is going to "pick this dump apart"...
Probably not wise to literally say "no outsiders" (and on reflection I think being overly limiting on the "right to inspection" would have send same wrong msg) but you have to step up a bit and step the stage for why the inspection is a good thing.
Just like the "job hunting experts" tell people to "rehearse your pitch until it sounds unrehearsed" I think it is smart for an unrepresented seller to PRACTICE 'welcoming' an inspector to their home and setting the proper tone for a pesky dad. Maybe something like "When I bought this home I had a pretty good inspector. I learned a lot and hope the new owners will feel good about the care I have taken of the place. I had my parents / uncle / brothers along too. They really shared a lot of experience and I was grateful for their knowledge. Ultimately the decision rested with me, but I know how important it can be to have those you trust also understand that old homes are a special legacy..." or SOMETHING!
First time buyers aren't the only buyers who think that way. I believe that when a buyer walks for a relatively minor issues, it's because the buyer has not been properly educated by his/her agent. Some agents tend to explain all of the ways out of a contract rather than how to protect oneself, no matter what comes up.
You should also consider doing a home inspection of your own and addressing any issues that you think may be deal-breakers. I'd do it before you get another offer.
Anything to do with a foundation or the structural integrety of a home would have me walking as well. Sorry OP. I'd get it fixed so that it's not an issue on the next inspecation. You need to be proactive in this market.
I think you guys aren't fully understanding...this isn't a problem with the "structural integrity" of the home. This is an inexpensive maintenance item in an otherwise completely updated (both cosmetics AND "hidden", important items...not just a lipstick and paint job deal) house in a fast-moving, upward-moving market (we're seeing plenty of homes selling at 2005 and '06 prices). Hence my frustration with that particular buyer.
Like I said, repointing the foundation is like regrouting tile, and the inspector explained it as normal home maintenance that will EVENTUALLY need to be completed. Much like inspectors say things like "Hey, this hot water heater is 6 years old. You'll probably need to replace it within a few years." I wouldn't go out and buy a new hot water heater when the old one is working fine, now would I? (I actually planned on making the repair, but my agent has advised me not to complete it at this time, and since she's the one familiar with this market, I'm deferring to her expertise.)
Annerk--you would seriously walk over an $800 repair that the sellers offered to complete for you? Really? That seems like it would be quite a loss. Your choice and all, but I walk into homes assuming I'll be putting money into them.
Of course, I don't look at homes that are priced such that I can't afford to do normal maintenance, and I suspect that was more the problem than anything else with this particular buyer.
If the repointing is done properly and sealed (which adds additional cost) it shouldn't need to be redone in the future. The fact that it hasn't been sealed sends the signal to me that other items have been overlooked in preserving the integrity of the home. That would be my concern.
I really think you are grossly underestimating or oversimplifying repointing your foundation. Comparing it to regrouting tiles is correct in that you pull out the old and replace with new, but tiles floors/walls are not load bearing. The mortar between the bricks/stone on your foundation is part of the system as a whole. If its failing there certainly reason to believe there was or will be shifting in the bricks/stone at those bad spots. Does this mean disaster has struck or will...no but its absolutely cause for concern that it will.
As others have said if financially feasible I would repair it yourself. You keep saying don't these new buyers understand that homes require upkeep...it appears that your home needs upkeep under your watch. I imagine any inspection will bnring this issue up, and all buyers are going to ask you to fix it. You're better off biting the bullet....repairing it and taking that whole problem out of the equation. You can add the fix to your list of improvements that substantiate your asking price.
If the repointing is done properly and sealed (which adds additional cost) it shouldn't need to be redone in the future. The fact that it hasn't been sealed sends the signal to me that other items have been overlooked in preserving the integrity of the home. That would be my concern.
I actually agree with this. It opens a Pandora's box of "what else have they not maintained properly?"
Annerk--you are incorrect in saying that repointing should never need to be done again. Repointing generally needs to be done every 50 years or so. I have a 120 year old house. So it's safe to say that at some point, it will need to be repointed. It does NOT need to be repointed NOW. The inspection report states that it will need to be done within 20 years (probably 4 owners from now) and that it's something a buyer would want to budget for within 5-10 years.
I have gotten estimates, they range from $500-$1000. Or a long day of DIY-ing it. As I said, I asked my agent if we should complete it and she said no.
This is not a question of improper maintenance, and I've had several different agents tell me that it's one of the standard things you see on inspection reports around here. Unfortunately the buyers were either not terribly savvy or just plain got cold feet.
I know you are all just trying to be helpful, and I appreciate your input. But this isn't a newer development of ticky-tacky suburban McHomes, this is in Boston where the majority of our housing stock was built in the late 1800's. We have completely different things that come up on inspection reports here.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
