At Harb & Co. my buyer’s agent works with more home buyers than I. Not that I don’t show homes, I sometimes do, just not as often as my buyer’s agent. I represent more home sellers. After the inspection, I am typically negotiating the property inspection on the seller’s behalf.
A successful real estate agent needs sometimes to wear the other hat. Working primarily with home sellers it’s easy for me to forget the buyer’s perspective. How disheartening it is after the home inspection for the buyer to learn of all the things wrong with their dream home. In this market, the journey to having an offer accepted can be a long one.
I often find it helpful to revisit the key concerns home buyers face following an inspection. From the buyer’s perspective, which repairs can be deferred? More importantly, which issues require immediate attention? While attending my daughter’s graduation in San Diego, I successfully negotiated the purchase of a property for a long-standing client. This transaction was a long time coming. Initially, we encountered a failed short sale. After that, we lost out repeatedly to all-cash offers.
Most buyers in the Los Angeles market are familiar with the routine: identify a home, submit an offer, and then receive a multiple counteroffer requesting the highest and best terms.
At last, we prevailed. Our offer was accepted. Then came the inspection.
Oak trees are protected and cannot be removed without a permit. This Sparr Heights home had an oak tree extremely close to the home. In addition to our general inspector, I knew we would need an arborist. The owner disclosed that they rooted out the sewer line every couple of years so we would need a sewer scan as well. The chimney on this vintage home is extremely tall and we ordered a chimney inspection. Then after the general inspection, we found we needed estimates for electrical and heating and air conditioning.
Once all of the estimates were gathered, it was time to make a decision. Negotiating the property inspection can be difficult. Each situation is unique and it is the client’s decision as to what to ask the seller to correct or credit. Buyer and seller reached a compromise, and we will be closing next month.
