Tuesday, April 23, 2024 Apr 23, 2024
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Commercial Real Estate

How to Play the Inspection Game

It's too important not to do it right.
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The first rule of the inspection game is to accept the fact that buying a home is no game. It may very well be the biggest investment you make in your lifetime. So the best strategy for everyone is to lay their cards on the table. If you’re the seller, have your home pre-inspected. Disclose the results of the inspection in advance so that a price can be negotiated with any problems taken into account. “A pre-inspection avoids panic,” says local real estate agent John D. Murray. “You can sleep that much better.” As for the buyers, Murray says focus on the big five: heating, plumbing, roof, foundation, and electrical. “I try to prepare clients to accept the nitpicky things. I don’t like the sellers to be in the repair business; the seller is going to find the cheapest plumber he can find. I would rather have my client make the repair and do it right. Unless you are buying a new home, you are buying a used product, so be cognizant of that.”

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