Worst-Case Scenario
Don’t feel too sorry for homeowners: in today’s Seller’s market, they’re calling the shots (and getting top dollar).
But, if you want to see Sellers in a more sympathetic light, consider this: selling a home now can involve not one inspection, but — including required re-inspections — eight to
ten(!) separate visits, depending on the Buyer’s financing; what issues come up during the Buyer’s inspection; and what city the home is located in.
At least in theory, here’s the potential list:
One. City point-of-sale inspection (if applicable).
Two. City point-of-sale re-inspection (to clear any required repair-or-replace items).
Three. Buyer’s inspection (the standard inspection in almost every deal).
Four. If the Buyer’ inspection raises concerns, follow-up inspection(s) by the appropriate licensed contractors (roof, main sewer, furnace, etc.)
Five. Appraisal (sort of like an inspection).
Six. Appraiser re-inspection (to verify any Seller-required repairs before closing).
Seven. FHA inspection (if Buyer getting an FHA loan).
Eight. Buyer re-inspection of any repairs negotiated for Seller to make, pre-closing.
Nine. Buyer’s walk-thru inspection before closing (sometimes combined with #8).
As the locals like to say, “uff-da!”
P.S.: Of course, long before the professionals show up, Buyers will typically do anywhere from one to three showings prior to deciding whether to make an offer.
