I was reminded of my home sale last year where the buyer was asking for a lot after they received the inspection report for what I felt were minor. Agent told me to make a deal because going back on market isn't a good look and with an additional month of holding cost I'd be better off giving them a decent credit

I was pissed off but lesson learned to just go ahead and fix some things. But also to get an inspection report before and provide to buyers before they offer. That way I'm not held up when the buyer has all the leverage. A buyer I would think would want to see all that before making an offer too. Trade off being probably scare away some buyers or receive low offers once they see the report.

I guess he just read my true mind and realized it was all a ruse. He was a DA too. You'd think he'd be used to transactions and umm... option periods, earnest money, etc... so odd. Anyway it ended up selling for about 50K than our planned offer. So that all worked out for him!

To clarify on my situation, he already had an inspection done on the property when he bought it just a couple years prior and told me as much. And to OP's point, we just wanted it to gauge how much work would be required. That said, we'd probably have done our own anyway.

Ironically, we ended up buying a beautiful disaster of a house anyway and ended up selling that 2 months after purchase.

Is it a Buyer's market or a sellers market right now? Serious question as homes are Crazy expensive right now, and mortgage rates are the highest they've been in the last 20 years.

That is the way it's done in many other places across the US (potential buyers do inspections before making an offer, and include all requested repairs in their offer and not asking for more after going under contract). If I could magically change one thing about the process, this would be it. Before marketing, do an inspection, and provide it to potential buyers. Make desired repairs and go to market. When I've done deals that fell out of contract and we took the inspection report, made repairs as necessary, and went back out to market, those deals actually went very smoothly. I'm a big fan of transparency.

And when I go to sell my own home someday, I may do it like this myself (along with offering a 4-5% commission to the buyers agent).

You should check out our monthly housing data threads. We post information for all the major markets in Texas.

That's exactly what we were trying to do!

That's very smart. Well done! Keep at it and you'll eventually find a good opportunity.

I don't really know how to say this correctly, but the residential real estate market isn't "efficient". That's bad in that you run across people who do illogical things at your detriment, but it's also good because you can sometimes find great opportunities and/or make great money on a deal. We see both often.

I'm not sure if it's market-dependent. But here in College Station it seems to be buyer's as prices are constantly being lowered week after week.

Always choose the home inspector and pay for it. Don't ever trust the seller to get someone who is looking out for your best interest.

PeekingDuck said:

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I guess he just read my true mind and realized it was all a ruse. He was a DA too. You'd think he'd be used to transactions and umm... option periods, earnest money, etc... so odd. Anyway it ended up selling for about 50K than our planned offer. So that all worked out for him!

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Contrary to popular belief, mainly theirs, lawyers generally know **** all about real estate transactions.

HarleySpoon said:

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TexAgs1992 said:

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Always choose the home inspector and pay for it. Don't ever trust the seller to get someone who is looking out for your best interest.

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And I would add: I also wouldn't use an inspector suggested by your realtor.

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More solid gold, because they have a desire to get sued.

malenurse said:

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HarleySpoon said:

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TexAgs1992 said:

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Always choose the home inspector and pay for it. Don't ever trust the seller to get someone who is looking out for your best interest.

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And I would add: I also wouldn't use an inspector suggested by your realtor.

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So, the person you have trusted to guide you in, what is probably the biggest purchase of your life, cannot be trusted to recommend an inspector?

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Incorrect, I said realtor…..not real estate attorney. Most definitely not one of the 70% of residential realtors that didn't sell a single home last year.

If you want to use one of those guys, then you deserve what you get( the guys that sold nothing last year)

Deats99 said:

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If you want to use one of those guys, then you deserve what you get( the guys that sold nothing last year)

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lol......I keep looking for it in their advertisements, online presence and on their billboards. It's really hard to find...and they all have contacts that brag on them.

Most of your good lenders subscribe to a service that can look up volume.