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I got a full price offer with an addendum (I think that's the term) that I pay for roof, septic, well, water, termite inspections and general home inspection. I countered for an additional couple thousand to cover inspection cost. (California)
What is the seller legally required to produce?
States differ, and hopefully you will get some realtors replying, but we have bought dozens of houses - and sold them, too, and I can tell you that typically the reasoning is: if a buyer wants something inspected, normally he contracts for it and pays for it. But anything can be put in a purchase agreement, such as the clause you mentioned. You can agree to it or not.
It would seem that if you are going to pay for these inspections, you would receive the results and reports. You can also put that in the agreement.
"Normally" the party wishing to have the inspections pays for them. If YOU as the seller pay for them, you own them, and can distribute them to others (like potential buyers), or not, as you see fit.
I got a full price offer with an addendum (I think that's the term) that I pay for roof, septic, well, water, termite inspections and general home inspection. I countered for an additional couple thousand to cover inspection cost. (California)
What is the seller legally required to produce?
I would not pay for the inspections or give any money towards them, if they buyer wants them they pay for it. I have sold quite a few homes and not once paid for any inspections.
Here in Florida, the buyer typically pays for inspections. However, everything is negotiable. It is possible for the buyer to adjust their offer price if they wish to. The only problem with that is that in a hot market where multiple offers come in within just a few days or hours may not be a good thing.
I would not pay for inspections up front. What if the deal doesn't close?
I might offer to reimburse the buyer up to a certain amount for inspection costs at closing, if the resulting net proceeds check was acceptable to me.
Agreed. Our contract has the buyer pay for the inspections, but everything is negotiable. I'd rather issue a credit at closing of some sort, whether it's reimbursing inspections, paying some closing costs, or whatever.
Oh, I wanted to add, my agent says "they're not asking for us to pay any of the closing costs so that's good". I guess it's good but it's a conventional loan, why would I pay her closing costs?
This was the first person who viewed the house and it was a full price offer. I hope she gets it honestly. She loves it, as do I.
Oh, I wanted to add, my agent says "they're not asking for us to pay any of the closing costs so that's good". I guess it's good but it's a conventional loan, why would I pay her closing costs?
This was the first person who viewed the house and it was a full price offer. I hope she gets it honestly. She loves it, as do I.
It's not uncommon for buyers to ask for closing costs regardless of loan type.
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