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.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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