The inspection period — which comes after an offer is accepted, but before a sales contract is signed — is a time when buyers, sellers and their agents hold their breath. That’s because this is when a deal is most likely to fall apart.
Inspections may reveal issues that the buyers did not anticipate when they submitted their offer. Suddenly they may feel they are overpaying. They may feel the seller should remedy every issue. Or they may want to renegotiate price in light of this new information.
Of course, the sellers may disagree. Tempers may flare. One or both parties may walk away.
Although this happens all the time, it need never happen at all. The key is for the agents on both sides of the transaction to manage their clients’ expectations properly regarding inspections.
Advice for buyers
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