Here’s the biggest problem with real estate contracts and how to solve it.
I recently asked several of my friends in the business what was the biggest issue with getting their contracts to the closing table. Resoundingly, they all gave me the same answer: the home inspection and the accompanying repair addendum. Today I’ll discuss how we at the Les Walden Real Estate Team handle issues associated with the home inspection.
Feel free to follow along in the video above, or use the timestamps below to navigate the discussion at your leisure:
0:00 — Introduction
0:50 — Why is this the biggest issue?
1:15 — Three options under Section 8 of the home inspection portion of your contract
2:25 — How long do you have to complete the home inspection and submit repair requests?
3:42 — Five categories that sellers are responsible for repairing
5:39 — How to properly prepare your repair addendum
6:42 — If sellers take care of their responsibilities, the buyer is obligated to move forward
7:50 — Be sure to read the summary section of the home inspection report
8:50 — Refer to the report if you have questions about the summary
9:30 — Wrapping up today’s discussion
If you have further questions about this or anything to do with real estate, don’t hesitate to give me a call or send an email. I’d love to help you.
