Our buyers have already had inspections on three of our houses this week:
1. The Full House is scheduled to close on Friday and underwriting came back a couple days ago and flagged the fact that the buyer never did an inspection. Unfortunately, FHA requires inspections, so this was something that needed to be taken care of ASAP. The inspector came to the house yesterday and we received the inspection report last night — other than a BB hole in one of the windows (how did we miss that!) and a couple minor electrical issues, everything was good. Our electrician will be at the property today to do the electrical repairs and the window is being replaced in the next day or two.
2. The Ticket House buyers had their inspection over the weekend, and it ultimately caused a very weird situation. The agent called us and told us that due to a couple inspection items, the buyers wanted to back out of the purchase. This has never happened to us before, so we were a little confused. We asked the agent to send us the inspection report so that we could see what the problem was — given that this was just a cosmetic remodel, I couldn’t imagine what issues were so major that the buyers would back out. Well, a couple hours later, the agent calls us back and tell us that the buyers were just having cold feet, and that he’s trying to convince them to move forward with the deal. Additionally, he sent us the inspection report, and it literally had only 6 minor issues noted. Specifically:
- Gutters need to be cleaned
- An exterior flood light needs new bulbs
- The front and rear hose bibs (water spigots) are loose and need to be caulked
- The backdoor threshold needs a piece of wood under it to keep it from bending
- A nail is poking through the sheetrock in the living room cathedral ceiling
- One of the windows is missing a small, plastic trim piece
Ultimately, this is one of the lightest inspection reports we had ever received, so it’s laughable that the buyers were trying to use it as an excuse to back out of the deal. If they want out of the deal, they have every right to back out (they are still within their inspection period), but we’d obviously prefer that they were just honest about the fact that they were just getting cold feet. We’re not sure if they still want to move forward or not, but given that we have a few other potentially interested buyers, I’m not sure I want them to move forward. We’ll see what happens.
3. The Unexpected House buyers had their inspection over the weekend. It took several days to get the report and request for repairs back to us, but we finally got it today. There were a whole lot of minor issues, but happily nothing major. The buyer is getting their loan through NACA, and NACA requires that most inspection items are repaired — so we’ll be addressing about 20 minor issues, everything from a sagging gutter to poorly insulated doors to some additional caulking around exterior entry points. Nothing major, and we should be done with the repairs in a couple days.