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Is it unusual for a buyer to want the inspection first? Out of all the homes I have sold as a homeowner, this has never happened. We've always had a contract first, then inspection, then renegotiations as needed. I figure it's their money and as long as I am not put out by the inspector (as in I am still showing my house regardless) then it's fine. I have agreed to it, but is there some reason I'm not thinking of to decline and ask for an offer on paper first?
Well, it does shorten the option period time, I would think, since so much of that is based on the inspection and getting estimates and repair negotiations, and that's an advantage in that your house is staying on the market rather than being off the market during the option period.
In my state the only risk is if you are notified of a material defect from the inspection, you would have to disclose it to all future customers. If that customer passes on your home, you might consider purchasing the inspection to show to future buyers.
WhoFanMe, any benefit to purchasing the inspection report over just asking the buyer for a copy? As a potential buyer I would be more impressed with another buyers report than I would with an upfront seller purchased report. I would automatically start thinking why did they go to the expense of getting an inspection if they aren't trying to slip something by? I can more easily see an honest motivation from a buyer getting the report in advance.
If the buyer wont share the report, then perhaps buying is not a bad idea to know what they found and fix it......buy why not just ask first?
If you are the buyer, how would you know that there is a recent inspection unless the seller made you aware of it? If you're the seller and the buyer declines to purchase your property, they would certainly want compensation for their investment. Some inspections can cost over $700 in my state.
Much depends on who the inspector is, as a buyer's agent, I would have no problem in looking a recent inspection from a reputable inspector. My buyers may want their own inspection, as well.
As a potential buyer I would be more impressed with another buyers report than I would with an upfront seller purchased report. I would automatically start thinking why did they go to the expense of getting an inspection if they aren't trying to slip something by? I can more easily see an honest motivation from a buyer getting the report in advance.
This is a side issue. As a potential seller who ordered an inspection prior to placing property on the market, your comment intrigues me. My motivation was to locate and correct all the negatives prior to establishing a fair market price. Was I naive to think this was the proper thing to do?
I've consistently offered to make the inspection notebook available to potential buyers and their agents, and made sure I used the preferred inspector of 90% of the agents from this area. Wondering now if I did wrong?
This is a side issue. As a potential seller who ordered an inspection prior to placing property on the market, your comment intrigues me. My motivation was to locate and correct all the negatives prior to establishing a fair market price. Was I naive to think this was the proper thing to do?
I've consistently offered to make the inspection notebook available to potential buyers and their agents, and made sure I used the preferred inspector of 90% of the agents from this area. Wondering now if I did wrong?
I think you did a great thing by having an inspection upfront and perhaps a buyer will still have another inspection done just to see if the home inspection was done well but than both sides are save and to me it shows honesty.
I can also understand why a buyer would order a home inspection upfront. You don't want to have your deposit out there for a while if it isn't worth it, but still you have to negotiate the price or it can be taken into the negotiation. All different views and all different opinions are possible on this issue, I guess.
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I have two other couples that are coming back for second looks, so it would be wise to wait and see. Thanks, Bonnie
