Market Wise Q&A: Why Would The Buyer Engage Inspectors If They Agreed In Writing To Buy The House As-Is?
Pat Kapowich for the San Jose Mercury News Q: We sold our home to a hurried buyer who bought the property without the inspection contingencies. Now the buyer’s agent is notifying us what days and times inspectors will be by to conduct their investigations. This is very unsettling and seems like a questionable practice. Why would the buyer engage inspectors if they he agreed in writing to buy the house As-Is and without an inspection contingency?
A: Real estate attorneys remind us that buyers are not prohibited from inspecting when lacking a property condition contingency. In addition, buyers often forgo inspections even though they have that important contingency in play. The buyer and their rep felt it was necessary to make such an offer to “get the house.” If the property is in the same condition as you stated in your disclosures, those same attorneys probably agree your transaction just grew stronger. Sellers should invite the buyer inspections to handle any issues during their transaction, which greatly helps in avoiding problems after the buyer moves in.
Market Wise Column 2-5-11
Send questions to Pat@SiliconValleyBroker.com