Step 10: Time for the inspection
At this point, the hard part of getting a buyer for your home is completed. You have worked hard....but it worked!
The home inspection usually occurs within 3 – 10 business days after the contract is accepted.
The buyer will schedule the inspection and his/her agent will confirm the day/time work for us. Most inspectors do not work evenings or weekends so usually the inspection takes place during a weekday. It’s important that the home inspection occur quickly as it often takes the inspector 1-2 days to write the report after the inspection. Sellers should not be present for the home inspection. Instead, it’s a time for the buyer and the buyer’s agent to be alone in the property with the inspector. For condos, plan to be gone for 2 hours. For single-family homes, the inspection can take 3 – 4 hours depending on the size of the home. The home should look just like it did for the showings with beds made, dishes put away, pets out of the home, etc.
After the inspection, the inspector will write the inspection report. This usually takes 1 – 2 days. Then the buyer will need to review the report and the buyer’s agent will ask for any credits or repairs the buyer wants. We’ll then negotiate these items back and forth and, hopefully, come to an agreement. If major problems are found during the inspection, the buyer does have the right to walk away from the deal and the earnest money will be returned to him/her. Otherwise, if we’re able to come to an agreement we move forward towards closing. Any agreed upon repairs need to be completed prior to the final walk-through which usually occurs 3 days before closing and receipts need to be provided to the buyer showing the required work was completed and paid for in full prior to the walk through.
Any Questions? Give me a call @ 253-988-8252