These realtor tips will help you know what to do when your client gets a bad inspection report.
So, as a Realtor you helped your client find the perfect home, guided them through the process of figuring out the right amount to offer to the owners, wrote the contract, submitted it to the sellers and waited with your clients. You helped them through the negotiation process and celebrated the acceptance. Now you’ve been stopped in your tracks. Why? A bad inspection report. So what do you do now?
First you make that difficult phone call. The one to tell your client that there are some serious problems with the home. Then sit down with the client and sort out what the next step will be. There are some problems that can’t be solved within the confines of the contract, things like serious issues with the foundation. Others can be. What you have to help your client figure out is how much are he is willing to 1) ask the seller to fix and/or 2) how much are they willing to fix on their own. So start by sorting out what the issue or issues are and how easily they can be fixed.
If the issues are electrical, you should have a licensed electrician come in and see what the inspector found. The issues could be even worse than what the inspection found. Get an estimate and then let your clients know what it is. Same thing if it’s a plumbing issue. With both keep in mind that there may be other things to add to it, such as drywall and painting if walls have to be removed to get to the problem. If it’s a roofing issue call a reputable roofer. Have them do an inspection of the roof inside and out and get an estimate. Ask them if the roof must be completely replaced, or if it could be restored. Roof restoration can sometimes be a more economical solution depending on the damage to the roof.
Then take the step to negotiate again with the sellers about the costs to repair the issues from the inspection report. Help your client see that a bad inspection report isn’t the end of their dream home.
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Tags: client, Confines, Drywall, Economical Solution, Electrician, inspection, Inspection Report, Negotiation Process, painting, Perfect Home, Plumbing, Realtor, realtor tips, Roof Restoration, Roofer, Roofing