InspectedHouses.com was started by two home inspectors; Dave Klima and Preston Sandlin who saw a problem with the timing of home inspections. Dave and Preston partnered to introduce a process that helps end the anger, frustration, and anxiety often associated with buying and selling homes. Inspectedhouses.com is a platform used by Sellers, Buyers, Inspectors and Realtors to change the current culture of how real estate is sold, and in the process give everyone involved in the transaction valuable benefits.
Currently, Real estate agents work extremely hard to get in front of sellers. Realtors advertise themselves, build referral networks, develop a good reputation, and after all that, hopefully…, they are rewarded with listing appointments. So it’s critical for the agent to make the most of these limited opportunities.
Typically, real estate agents will tell a seller their house can be sold quickly, for what the seller wants or even more, and then the agent shows comps to back up that statement. This of course is what sellers wants to hear and the seller picks a real estate agent who they think will fulfill the promises made.
At that point the agent gets the listing, puts the house in the MLS, puts a sign in the yard, spends a lot of time at open houses, spends time away from their families for showings, and spends money marketing the house.
In the meantime, a buyer and their agent, who typically have spent a long time looking at houses already, eventually bring an offer. Both agents negotiate back and forth until a sales price is agreed upon and it is subject to a home inspection.
After the buyer’s offer is accepted, all parties, the buyer, seller and both agents, sit on pins and needles waiting for the results of the buyer’s home inspection. Typically, the home inspector will find thousands of dollars in deficiencies and the buyer will demand repairs be made to the house.
Therefore, after the buyer’s inspection is performed a second round of negotiation takes place and this is when much of the anger, anxiety, and frustration in the home buying and selling process is created.
Sometimes buyers back out of the deal. When deals are “killed”, it costs everyone involved money. Sellers need to make more mortgage payments and quite often they needed to sell their current house to buy their next house. Consequently, one home inspection did not just “kill” one deal it “killed” two deals. Buyers spent money on inspections, appraisals, environmental testing, and took time off work to attend the inspection. In this scenario, the buyers have $1500 to $2000 invested in this process and will never get their money or time back.
The time, money, and energy that all parties have spent on the transaction is wasted and they all need to start the process all over.
In other cases, the deal closes, but neither the seller or the buyer is happy. The buyers feel they paid too much because they not get all the repairs made they requested. The sellers are not happy because they were blindsided with costs, made repairs they did not want to make, and consequently the seller did not get the return they wanted or were promised for the house. Sometimes agents will dip into their own pockets to assist with making repairs just to get the deal to close.
Truly there is a lot of anger, anxiety, and frustration involved in the home buying and selling process and it doesn’t have to be this way!!!
If deficiencies discovered during the last minute home inspection process cause so many problems and doubles the effort, isn’t it time for a change? Wouldn’t it be better if all parties knew the facts upfront before negotiating?
InspectedHouses.com was created to help Sellers, Buyers, Realtors, and Inspectors have happier and less stressful real estate transactions. It is our sincere hope that you will spend some time reviewing our website and learning about all the benefits we bring to the industry.