Trulia San D…, Home Buyer in San Diego, CA

When an inspection finds major problems with a home, how do you advise your clients to proceed (buyers and sellers)?

Asked by Trulia San Diego, San Diego, CA Fri Mar 29, 2013

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As others have suggested, the buyer's agent must have a talk with the buyer. I learn towards seeing what the seller is willing to do. If my client wishes to move forward, we often take that approach first, and then, based on the seller's response, make decisions about whether to cancel.
1 vote Thank Flag Link Fri Mar 29, 2013
Best course is to counsel, not advise. As Realtors, we have the experience to tell both buyers and sellers the pro's, the con's, the possible solutions, the possible ramifications, and let them make an informed decision.
1 vote Thank Flag Link Fri Mar 29, 2013
Thank you for the correction Patti I'm always learning!
Flag Fri Mar 29, 2013
You have to look at the client and what they want. Do they want to move forward? Do they understand what is involved with the "fixes"? Can they do the "fixes" themselves? Can they get financing, or do they need financing?

All this plays into the decision...which is the clients decision. Can't say that too much...Moving forward or withdrawing...both are the clients decision, not the REALTOR.

Joan Wilson (Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)
Pacific Sotheby's International Realty
Call or Text: 760-757-3468 An exceptional home is simply a frame for an exceptional life
joan@joanwilsonrealtor.com



CA DRE License # 01341483
1 vote Thank Flag Link Fri Mar 29, 2013
Without all the facts, one can't make an informed decision. Thus, it is imperative that all the facts are known and what the ramifications are for each "major" item that is noted. Keep in mind that what may be "major" for one party, may be "minor" for another. As a business professional representing buyers and sellers, my job is to advise my clients on the facts, point out the pros and cons, get them in touch with certain experts if applicable and answer any of their other questions or concerns. Ultimately, it is up to the buyer or seller how they would like to proceed.

Sincerely,

Chad Basinger, REALTOR®, CPA, CFP®
858-997-3704
Web Reference: http://www.chadbasinger.com
0 votes Thank Flag Link Wed Apr 3, 2013
Home buyer,
It is important for a realtor to always instill confidence in their clients to do that they must be experienced and knowledgable in the profession. When inspection problems arise it can be stressful for both the buyer and seller. They usually have money invested at this point and want to close the transaction. As a buyers agent I would advise my client to get a specialized inspection depending on the problem then have an estimate for work costs prepared following this submit a request for repairs and follow up with the listing agent. On the other hand as a listing agent the seller needs to consider the cost of repair in respect to the purchase price and his net from the sale. The market were in now is showing multiple offers on a property and significantly over list price so maybe they have room in their budget to cover the repairs or even negotiate a split and/or credit. If not this buyer who is to say the next wont walk? A compromise that makes both parties happy is possible with the right agent and skill.
0 votes Thank Flag Link Fri Mar 29, 2013
It is always the client's decision to proceed or not proceed. Not only is the type of sale important as Jason mentioned, but the type of client as well. Are they first time homebuyer (less experienced) or investors/contractors etc..? I would encourage the client to get professional repair bids and get as educated as possible about the issue in order to make an informed decision. I also advise as to the potential effects on future resale value, and spend time to be sure they understand what they will be taking on if they proceed (time, money, expense and hassle).

Kind Regards,

Marcie Sands, REALTOR
Simply The Best Real Estate Co., Inc.
760-644-1562
0 votes Thank Flag Link Fri Mar 29, 2013
It depends on many factors

1. Is the major issue repairable or not?
2. The type of transaction determines what realistic paths exist. REO,Short Sale, etc
3. Is the client capable of taking on the issue.

Bottom line is that you should never advise a client to proceed with something they cannot feel 100% comfortable with but at the same time, problems create opportunities.
Web Reference: http://www.noviproperty.com
0 votes Thank Flag Link Fri Mar 29, 2013
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