NO HOME INSPECTION CONTINGENCY? NOT SO FAST…
Maybe you can get your client a pre-offer or enhanced walkthrough survey to accomplish many of the same goals!!
Home inspections are more than just blunt instruments to use for negotiations. They are primarily an informational tool to make for more informed buyers, with better understanding of the condition of the property at the time of the inspection. Even in these fiercely competitive markets, with no opportunity to ask for action on inspection items (The “For Information Only” inspections), the process still offers a valuable opportunity for a buyer to look at the home with a skilled inspector who is focused only on the home. They are free to objectively concentrate on the building, to tell the buyer what they see and what they think the implications are, tell them what things are, where they are and explain why they should care.
If no other opportunities exist, full home inspections even have value post-settlement as an in-person Owner’s Manual for the home—one that you can ask questions!! But….
IT IS HARD FOR A SELLER TO DENY A PRE-SETTLEMENT WALKTHROUGH…
Paragraph 11 of the RESIDENTIAL SALES CONTRACT (Virginia) reads:
11. ACCESS TO PROPERTY Seller will provide Broker, Purchaser, inspectors representing Purchaser, and representatives of lending institutions for Appraisal purposes reasonable access to the Property to comply with this Contract. In addition, Purchaser and/or Purchaser’s representative will have the right to make walk-through inspection(s) within 7 days prior to Settlement and/or occupancy, unless otherwise agreed to by Purchaser and Seller.
If the walkthrough can be scheduled up to 7 days prior to settlement, you may be able to bypass the common limitations of 3 or 4 day contingency timeframes–when your inspector may be booked. The inspector can accompany the buyer as their “representative” and conduct a modified, abbreviated survey to identify what may be issues of real substance–a “new” furnace that is really 20 years old, unsafe conditions or workmanship and other issues which, despite the limitation on the buyer’s options, they are still well served to know. The survey will ignore loose door hardware, leaky faucets, sticky windows and other common home inspection complications in favor of efficiently using a compressed time period like a walkthrough trying to help avoid potentially expensive or hazardous “surprises”.
The survey includes the Exterior, Roof, Attic, and utility areas including accessible structural components, 1 Heating System, 1 Cooling System, 1 Electrical distribution panel, and entrance and distribution Supply and Drainage Plumbing for $330, which includes up to 2 man-hours, a special report, and phone consultation and review with the buyer available if needed. This covers all the so-called major systems. Extra time and systems will be charged at $40 for each system and $40 for each quarter hour over 2 manhours. (Finished living spaces will be bypassed to make this time frame possible.)
This is obviously not an ideal solution. Responsible sellers should permit buyers adequate opportunity to use a full home inspection for due diligence about what is, to them, a very significant purchase. But the perfect need not be the enemy of the good. This option is a great deal better than being forced to fly blind!!
CALL (703) 385 1347 TO SCHEDULE THIS SURVEY TO HELP PROTECT YOUR CLIENT AND YOURSELF.