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708 715-5389 Tom@tozerlawoffice.com

Home Selling 101, Part 4 – Inspections.  After the contract is accepted, the buyer will have a professional inspection of the home.  Home inspectors are usually very thorough. I have only very rarely seen a home inspection come back without any issues being raised.  Do not take it personally when the inspection comes back with “problems”! The home buyer is entitled to know what they are buying. And you have probably lived in the home long enough so that the finicky toilet valve and the squeaky door hinge have become like family members. The buyer doesn’t know about those things.

After the inspection is done, the buyer will send the inspection report document to their lawyer, who will review it and raise any issues with the seller that the buyers want to have repaired. Many times in lieu of repair they will ask for a credit on closing costs or a price reduction to cover costs of the repairs. The buyer’s lawyer will then send a letter to your attorney, listing the items for repair and/or requesting a credit of some kind. They also have to send at least those pages of the inspection report that include any comments about the requested items. At that point, you and your lawyer (I usually ask for the realtor to get involved here as well) will review the requests, review the inspection report, and discuss how to respond to the repair requests. This is just another negotiation in the sales process.  If the buyer is overreaching, your realtor and your lawyer should be able to discuss that with you and deal with it in the negotiations.

The most important thing for a home seller to do at this point in the process is to be realistic and fair, both to your buyer and to yourself.  Having a professional lawyer and realtor at your side to discuss these issues can be a big help in setting aside your emotions.

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