Episode 18: Beware when buyers request home inspections "for informational purposes only," says Frank LLosa of Frankly Realty, as it is not straightforward and may just be an attempt to renegotiate price or provide a loophole for buyers to step out of a purchase contract.
He likened it to a "wolf in sheep’s clothing," and said it would be preferable to perform a "real" home inspection.
"Let’s get to the crux of it: The buyer wants to make sure the house is not falling off the earth, and the seller doesn’t want to be nickel-and-dimed with, ‘This lightbulb needs to be changed’ and this nit-picky stuff," he contends.
"Why not put in the contract exactly what the expectations are?"
The use of the "for informational purposes only" phrase can breed distrust among agents, he said, over the actual intent of the inspection.
Watch past episodes of the Wheel Estate Cam.
***
What’s your opinion? Leave your comments below or send a letter to the editor.
