I had an inspection a while back where there were a huge number of problems with the house—big and small and in between. There was concern that if the seller saw the “entire” report (or even the entire summary) they might “freak-out” and not accept the counter-offer.
The idea was that if I would simply create a “CliffsNotes” version of the report, the seller would only have to see the REALLY BAD THINGS and then perhaps the deal would move along a little more smoothly. They were trying to make the point that a small number of big issues would be better than a list that included all concerns
I very politely informed the agent that, if I were to do such a thing, it would leave both of us open to tremendous liability in the event that some inter-related things might not be adequately discussed in an “abbreviated” format—-and send us all off a cliff.
It is funny how quickly the word “liability” can move the conversation in a different direction. The devil is in the details—not in the short-cuts. While the deal might fall apart—it is better that everyone be as informed as possible. I am impressed with how rare the deal falling apart actually is. A difficult deal is ultimately better than no deal at all for all parties it seems.
By Charles Buell, Real Estate Inspections in Seattle
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As Charles states, it’s in everyone’s best interest to be aware of the smaller repairs as well to keep everyone’s liability to a minimum. It is more likely that a deal falls apart due to the fact that the seller does not want to negotiate the findings of a detailed home inspection report.
Or take this to the extreme logic. Wouldn’t it be great if seller’s had their own inspections done prior to even putting the home on the market. They would be able to address problems ahead of time, without the added stress of losing the sale in the limited time perimeters, they could negotiate a price without an inspection contingency and the list goes on.
Jana, for sure—although most agents, for reasons that elude me, recommend against having pre-listing inspections done.
So you don’t give out a summary of the bigger items? I almost always do. I have this text at the beginning of the summary – “This Summary Report includes the items that were, in my opinion, the most likely to affect your decision to purchase the property. This is not by any means a substitute for the full report.”
Reuben, yes of course I provide a summary of “Significant Issues—and safety issues.” In this case they were looking for an even more abbreviated version of the Summary 🙂
Charles,
When they say they wanted an abbreviated summary it sounds like they wanted 50% of what the real report would say. That not the kind of Realtor I wanted to be associated with.
//Rick
Hi Rick—agreed 🙂