I had an interesting visitor this week. I answered a knock at the door to find my neighbor from across the street with a stack of papers in his hand. He asked me if I could help him figure out his property inspection! Seems he had sold his house himself to a friend.
The buyer did not have representation either. The seller and buyer decided they would discount the commissions off the sale price and save everyone money. Really? Well maybe that sounds like a good idea in theory but that really is not a very smart move. Especially for the seller. If you are going to net the same amount of money with or without representation then what is the point? Think about it. The seller should have pocketed the commissions!
The seller discounts the price, has no representation and then can’t figure out how to work out the property inspection. It was strange karma that his inspector is one of the worst inspectors out there today. I don’t know how the seller has managed on the appraisal and closing process. He has moved but no one has moved in yet. It doesn’t look like it has closed because the seller stops in every so often.
I have watched mold mitigation trucks, HVAC Companies, a structural company, an electrician and of course the Property Inspector over the last couple weeks. I even watched the seller climb a ladder and do roof/gutter repairs. I bet the buyer has this seller doing all kind of upgrades too. I know the seller told me he wanted to give about $25,000 credit in lieu of repairs. Seems like a lot for a 2000sqft house that is only about 15 yrs old. Sounds like the buyer got the better end of the deal but you know… the seller saved all that money by not paying any commissions.
Oh by the way I told him I couldn’t help him as I was not a party to the transaction.
Nashville Area Homes 