We have an offer and accepted it help!

[tasdad4701]

Hello, We live in Michigan and had our house on the market for only
2 weeks. We received an offer just below our asking price and accepted it. The condition that we asked for, was to close on June 20th and be moved out by June 25th, they accepted. Our realtor is a family freind and was helping the buyers to look for a home. We are aware of how lucky we are given the market in our area. The problem is that the buyer wants to wait until early June to do the inspection. We just bought this house in Mar. of 06 our inspector only found a couple things that needed to be repaired. The concern that I have is waiting for over 2 months, and what if her inspector comes up with something we are not aware of. Our realtor is confident that our house will have a great inspection, and the buyer will
follow through with the purchase. But what if they don't, we lose out on over 2 months of prime selling months. We are going to ask that the buyer has the inspection in mid May. Me and my wife are planning to move to Florida after the sale. We are going to need some time to find a house to rent. The buyer has put a $1,000 down payment on the house. One thought we had was hiring her inspector to do a pre-inspection. This would give us a chance to prepare and or repair any thing that needed it.
Does this sound like a bad idea, or do you have and suggestions?
Thanks and help!!!

[Bobbygunn]

Hello, We live in Michigan and had our house on the market for only
2 weeks. We received an offer just below our asking price and accepted it. The condition that we asked for, was to close on June 20th and be moved out by June 25th, they accepted. Our realtor is a family freind and was helping the buyers to look for a home. We are aware of how lucky we are given the market in our area. The problem is that the buyer wants to wait until early June to do the inspection. We just bought this house in Mar. of 06 our inspector only found a couple things that needed to be repaired. The concern that I have is waiting for over 2 months, and what if her inspector comes up with something we are not aware of. Our realtor is confident that our house will have a great inspection, and the buyer will
follow through with the purchase. But what if they don't, we lose out on over 2 months of prime selling months. We are going to ask that the buyer has the inspection in mid May. Me and my wife are planning to move to Florida after the sale. We are going to need some time to find a house to rent. The buyer has put a $1,000 down payment on the house. One thought we had was hiring her inspector to do a pre-inspection. This would give us a chance to prepare and or repair any thing that needed it.
Does this sound like a bad idea, or do you have and suggestions?
Thanks and help!!!

What if the buyer backs out as a result of your demands....given current market conditions can you find another buyer to replace as quickly as the one that offered?

[chrishummel]

First of all, contrats. Second giving them until June to do the inspection is an easy out for them. If it were me, I would have them do the inspection now. Your realtor can negotiate this for you. Otherwise you are putting yourself in a bad situation.

[builderscut.com]

They realy should be doing the inspection in ten days after the offer has been accepted...You don't want to wait 2 months..And also If I read this correctly they only have 1000 down thats easy to walk away from..Also are they qualified do they at least have a pre-approval letter from a lender..Ask your broker to supply it..

[TJ2007]

I agree, normally inspection should be done in 10 days.

If they want to reinspect it later at their expense to make sure nothing major has happened since the 1st inspection that should be feasable.

Otherwise your agent should stipulate in the contract that you can continue to market the home for sale and should you find another buyer the current buyer has right to waive right to inspect or lose the deal to the new guy......

THIS IS WHY IT IS MUCH EASIER TO SELL 'AS-IS'

[tasdad4701]

After thinking about it we are just going to agree to delay the inspection until mid May. We know people that have had there houses up for sale for over a year. The buyer has already been great by letting us wait until late June to move out. We are aware that it is risky, to take chance to lose 2 months, of prime selling time if they back out . This buyer is a 1st time home buyer and is already nervous, I feel that they have a valid point to want to get the inspection 30 days prior to closing. I would feel safer if I was them also,
a lot of things can go wrong with a house in this time.
Thanks for all your input and if you have any more comments please feel free. Tasdad4701

[Cedar City Utah Realtor]

Why don't you have your Realtor ask the buyer Verbally. That way if it is absolutely not possible you didn't put it in writing and they still have to have it by the June date but if they dont mind then you get what you want. That is the least risky way to handle the situation. Just a thought.

[gjtrafl]

Here is another thought... Why don't you get the transaction done now. Go ahead and get the inspections, appraisals, etc.. done and close in a standard 30 day period. Then rent back and pay the buyers mortgage and insurance for the home prorated until you leave. That way you have the peace of mind that the deal is done and you haven't lost valuable spring marketing time!!!