Disclosures are subjective. Plus the more inspections the more issues will be found. It takes sophisticated buyers to know the difference between minor and major issues. Unless you want multiple offers with
full disclosures before hand, it is best to let the buyer hire the inspections. Just do a walk thru and make all repairs of obvious problems before listing
2 Likes
Also, there is something you do want them to leave behind, you should include it in the contract as well…That would include things you don’t want left. Like if they have a 500 pound safe in the attic, you might want to specify that it has to be removed.
Also great advice, Terri, especially the bit about taking stuff away. I have to admit to having tried to think of a use for that hypothetical 500-lb safe. Dirty laundry? The world’s smallest safe room?
Some sellers make disclosure available right with the listing. Why would someone not want to disclose?
I’ve never figured this one out, erth. Is it a sort of sales tactic, to get you interested in the property and then disclose problems once you’re hooked?
…It takes sophisticated buyers to know the difference between minor and major issues…
Agreed, Elt1. Again, point well taken. I think that, if I’m learning anything from this thread (well, and this forum), it’s that I’m not nearly as sophisticated a buyer as I thought I was.
I think this happens when the seller figures the buyer is going to do an inspection anyways, so why pay for it? In a hot market, seller does inspections and gets an offer in 5 days, so it speeds up the process. In a slow market, let first interested buyer do the inspections and save the $$. Then the buyer has done their due diligence.
I just had a buyer walk on my apartment deal. He spent $1000 on a bullshit report. I asked the inspector it there were any urgent problems. He said no. Now I have a 65 page report of honey do items, and boiler plate cya junk. My handyman and I will fix the important ones.
1 Like