The 3 Reasons Why Deals Are Killed By Home Inspections

For a real estate agent who has spent weeks or even months with a good client, the aspect of home inspection could very well turn out to be a huge nightmare. Most of the professionals on the real estate market are aware of the fact that there are a great many reasons as to why a deal can fall apart, starting from appraisals to financial and credit problems as well. There are many more, but one must realise the bitter truth of the matter – more often than not, it is the home inspection that is the deal killer.

For those of you who are still wondering, the most surprising part of the matter is that for the most part, neither the home inspector or the house in question are responsible for a cancelled deal. That is the most common misconception that is prevalent out there, whether one ends up hiring the best home inspector in ottawa or an expert service dealing with septic systems in ottawa. In this case, it has more to do with the expectations of the client and him being let down by what he thought he was investing in. Even though one may think that the fault is more with the inspector, but the truth of the matter is that more often than not, buyers tend to have unrealistic expectations before signing the contract.

However for all those of you who have already lost hope, there is no cause of worry as this scenario can indeed be averted provided you get to know the main reasons why deals are killed by home inspectors. Having said that, here are the top 3 reasons:-

  • Buyers are just not prepared: This is the most obvious of all the reasons. The specific reason for this is that there is no such training that helps a person identify risks or issues with a house or even how to look at a house from that aspect.

    Hence, a large majority of buyers remain clueless about how to implement the process needed to root out particular risk spots. It is as simple as that. Plus, the new generation of home buyers did not grow up working on their homes with their parents for the most part. These necessary skills are mostly learned on the job.
  • A rise in technology leads to excess information: A rise in technology leads to rapid innovation and unlike what most people think, this can have some negative side-effects that people are not aware of at first. With computer-generated reports and other such tools, it is not unusual for a lot of buyers to receive a report that a mind-boggling 50 pages long. Yes, you heard that right. This leads to the classical paradox of more information, but little to no understanding of what that information really means.
  • The high expectations of buyers in general: In the minds of most people, the general assumption about houses has changed. That is the underlying fact. There is a very high expectation of class and luxury, whether that level of luxury is present in the homes or not. What is the end result of this? People are buying more and more expensive houses, but they have little to no understanding of how they actually work. With the tight inventory conditions, there is less time for clients as far as decision making is concerned.

Ultimately, the final truth of the matter is that pretty much all houses out there do end up posing some kind of risk and one must learn and understand the tricks of the trade that help evaluate the risks for what they really are. This way, the best offers can be made on the right homes, leading to less time and money being wasted on everyone’s part.

The answer to this is a more transparent approach since this would help everyone across the board to form more realistic expectations of how inspections ought to go. All in all, being prepared to make an offer on the right house is everything in today’s day and age where literally everyone is running short on time. With this, there will be a lot less talk about deals being killed and a lot more optimistic talk about better referrals and happier clients across the board.

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