The inspection contingency in your sales contract is an inescapable reality with a traditional real estate transaction. Many Chicago home sellers fear the unknown of what lies behind their walls or under the floor. The best practice for home sellers is to have a pre-inspection before getting an offer. However, we will now explore what Chicago home sellers should do after a poor property inspection if you’re facing this situation.
Reinspect
It is not beyond the realm of possibilities that your report is incorrect, as inspectors have faced lawsuits for inaccuracy. But, do you find yourself seriously questioning the inspector’s professionalism after getting a poor property inspection? Then, Chicago home sellers should ask for recommendations for a highly reliable inspector from a trusted real estate expert like the professional investors at Sell Today Homebuyers. Because direct buyers work with a team of the most respected experts from every walk of the real estate industry, they can easily guide you to a reliable inspector. This team is ready to quickly jump into action, as it is their full-time passion to help home sellers solve their problems, be they time or financial crunches. Because a professional investor outlines everything that goes into calculating an offer, if the second inspection report should come out with poor results, a direct buyer will buy your home as-is and provide you with a fair offer that details realistic expenses for each issue.
Renegotiate
After a poor property inspection, Chicago home sellers may have buyers that will go forward with the sale. How the buyers choose to do so is dependent upon the deal’s terms. Bartering may be an option; perhaps the buyers have interest in a piece of antique furniture, large appliance, or other valuable possession your buyers may have enough interest in to save the sale. While it may be a painful sacrifice, you may have to consent to the demands to keep your deal depending on your circumstances. Another option is that the buyer requires you to complete any repairs out of pocket before the sale progresses. Often, sellers find themselves in a quandary, knowing the repairs will increase value, yet lacking the funds or the personal fortitude to go through living in a construction zone. However, buyers often go overboard with what they want, feeling they have you over a barrel. Why not reach out for a quick alternative to direct buyers like those at Sell Today Homebuyers who will provide you with a no-obligation offer, which will help you sort out the reasonable requests from those where the buyers have crossed the line into ridiculous demands.
Reconsider
If the worst fear should come to fruition and the buyer backs out, you should seriously consider changing course with your sales method. Maybe you just don’t have the time to resolve the flaws detected in the inspection, or you do not have access to the finances the repairs will require. In the meantime, because the disclosure process includes providing any known defects to the next buyer, when Chicago home sellers have a poor property inspection, unless you are willing to put in the time and money to make all of the repairs, you will need to sell as-is. Your buyer pool is now limited to a select group of buyers who are willing to take on your problems. If this is the case, a traditional listing with known faults usually lingers on the market. The longer a home sits on the market, the less the seller is likely to receive. Every day on the market and every price decrease is n the listing. Time also costs you money as each month passes and your bills continue to pour in. While your property was already listed, the days are adding up as you work with your buyer, leaving you in a less than advantageous position. When offers come in, buyers will seek bargain basement deals and typically make you insultingly low offers. Direct buyers want to see you get a fair price, so why not avoid the emotional roller coaster of waiting and being disappointed. The best part, your closing could be in as little as seven days. Why not reach out for a no-obligation quote from a professional investor like those at Sell Today Homebuyers.
Are you dreading the outcome of your home inspection? Why not just skip the sleepless nights and sell directly to Sell Today Homebuyers! We welcome you to contact us and share all of your concerns. At Sell Today Homebuyers, we take the time to listen to you and help save more of your money for you! You can rest easy when you work with the direct buyers at Sell Today Homebuyers, who offer solutions for any situation. Chicago, home sellers can avoid all of the stress and hassle accompanying a less than adequate property inspection by calling Sell Today Homebuyers at (630) 984-0000 or sending us a message today.