Seller Tricks

10 Most Common Seller Tricks

 

sellers tricks and issues
The photo was taken of one of the seller tricks! Sellers try to hide issues under scatter mats!

Unfortunately, it can be difficult when unscrupulous sellers use tricks to hide defects. Here are the 10 most common seller tricks, and how you can recognise each one of the issues.

A home may be the biggest purchase you’ll ever make. So it makes sense to do everything possible to ensure you’re making a sound investment.

Painting over problem areas. 

Fresh paint itself is not a sign of dishonesty, but it can be used to cover water stains, mould and more. Many honest sellers use paint to update or freshen up walls. Take note if many areas were recently painted and mention that to the home inspector. You can also ask the seller for before-and-after photos. Check out this video for tips on how to identify and remove mould.

Choosing to remain in the dark about potential problems are seller tricks. 

By law, a seller cannot be held liable for problems he or she didn’t know about. Thus, a seller trick is not to allow home inspections to be performed when it’s time to sell. Another seller trick is not to agree to a reasonable inspection contingency time period. Some will even tell potential buyers they don’t want to know what the home inspection reveals. This is all the more reason to get a thorough home inspectionIt’s a small price to pay to ensure you’re making a sound investment.

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Buying Property

home purchase

Buying a house, townhouse or flat?

Imagine what could go wrong with your home purchase! Houses are made up of hundreds of different parts and materials from a nail to a roof tile and much, much more!

New or used, the home purchase will most likely be one of the biggest investments you’ll ever make! Therefore, with this type of investment, it only makes sense to have a professional home inspection done beforehand.

If you’re thinking, “Why do I need to spend the time and money on a home inspection?”

My question to you is “Why take any unnecessary chances with your hard-earned money?

Protecting your home purchase

An inspection and report will give you a clear, concise picture of the important components and systems of the home. Therefore, you can make an informed decision on the purchase of the home. In doing so, you avoid buying a new home only to spend thousands of rand on unexpected or unforeseen problems.

My thorough, impartial inspection will let you identify any minor or major repairs or maintenance issues. Furthermore, the inspection report is a valuable tool in the bargaining stage to address any issues before finalising your home purchase.

Moreover, you will have a highly trained, experienced and dedicated professional on your side. My report will help you make the right decision with your property purchase.

Don’t make the mistake so many other home buyers are making over and over again!

Protect your investment by having a home inspection!

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THE HOME DETECTIVE » Home buyer » Voetstoots

Home Inspection Contingencies

inspection contingency

Put a Home Inspection Contingency in Your “Offer to Purchase”

inspection contingency and sales price
Waiving the home inspection contingency may cost you much more than the cost of a home inspection

Home Inspection Contingencies

If you don’t believe in having a home inspection you should realise that your investment is at risk.  In reality, a home inspection contingency is your only safeguard where the voetstoots clause forms part of the sales price and contract.

In South Africa, the voetstoots clause is part of the purchase contract in most of the property sales. But, unfortunately, you will not find any home inspection contingencies in any purchase contracts.

You may not consider that a home inspection contingency is a big deal! In that case, ask yourself why a seller will refuse to consider your offer that contains a home inspection contingency. It has occurred to some of my clients! I told them to consider it a lucky escape!  

In addition, a seller selling a house below market value most probably has serious defects. Don’t fall for reasons like the seller is leaving for overseas or retiring to the coast.

A home inspection contingency should be added as part of the purchase contract when you have a home inspection. It means you can cancel the sale or try to negotiate repairs based on the results of the inspection.

In most instances, you should negotiate for at least a week to conduct a home inspection. The time can be shortened or increased during offer negotiations.

An example of a home inspection contingency

“The Buyers’ offer is contingent upon a satisfactory inspection within  7 (or _____ ) days. Upon receipt of the results of such inspection, the Buyers may request in writing at any time within the agreed period that the Sellers make certain repairs or that the Sellers reduce the sales price to compensate for such defect(s). Such a request to repair or reduce the price does not terminate the contract and the Sellers shall have _____ days from receipt of such request to agree to make such repairs or reduce the sales price. If the Sellers do not agree, the Buyers shall have _____ days to waive the contingency and accept the property “as-is” or to declare the contract null and void. “

The contingency expiry date

Setting the date that a home inspection contingency should be released depends on the contingency you negotiate with the seller. It may not automatically expire unless you take a specific action such as signing a contingency release. That is if a release is part of the contingency agreement. Therefore, if it expires before you have it inspected, you lose the right to have the home inspected.

When your sales contract has a home inspection contingency, it is important to conduct the inspection as soon as possible. I may recommend that you call an electrician to do further investigation of the wiring in the ceiling space. However, for example, you might have to contact several electricians before finding someone available in the time frame you need.

Therefore, it is very important to keep the seller and agent in the picture of what is happening. You should advise the seller on your decision to continue, negotiate a better sales price or withdraw from the purchase contract before the expiry date. If you don’t you may have to honour the conditions of the sale.

Types of Home Inspections

A home inspection involves many components, which are primarily structural and visual. However, if I discover defects beyond my area of expertise I will recommend that you consult an expert.

For example, if the home’s water pressure is low, I will recommend an inspection by a licensed plumber. There could be a blockage the water supply system, or the plumbing pipes could be corroded. I may not be able to identify such defects by noticing the low water pressure. If I recommend further inspections in the report, you may wish to call a specialist for advice.

This is also why an Inspection contingency time period is so important! It give you time for specialist inspections if they are required!

Specialist inspections include any of the following:

  • Pest and termites
  • Serious structural cracks
  • Electrical wiring
  • Heating and air conditioning
  • Lead-based paint
  • Foundation and basement
  • Sewer or septic system
  • Soil stability
  • Trees and vegetation
  • Water systems and plumbing
  • Mould
  • Asbestos

Disclaimer: This inspection contingency article is intended for educational purposes only and does not constitute legal advice. Real estate procedures and documents may vary. Consult a real estate professional or lawyer in your area if you have specific questions about this subject.

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THE HOME DETECTIVE » Home buyer » Voetstoots

Home Inspectors and Inspections

Home inspections: A must for every home buyer

inspector
Jurie Fourie – Owner of THE HOME DETECTIVE and Certified Home Inspector and Member of the International Association of Certified Home Inspectors (InterNACHI)

When you’re buying a home, you don’t want to skip the home inspection step. Home inspections are an important part of the home buying process. An inspection by an InterNACHI certified home inspector can prevent you from purchasing a home with serious issues such as mould, structural defects, faulty plumbing and more.

Firstly, you should insert a contingency in the “Offer To Purchase” which states that the sale is dependant on a satisfactory home inspection. In addition, you should also agree on an “Inspection Contingency Period” which will give you time to have a home inspection done. Furthermore, this period should be between four to seven days depending on how soon you can get an appointment with a home inspector.

Based on the results of a home inspection, the contingency will then give you the right to cancel the sales agreement. In addition, you can walk away from the transaction without recourse if you are unsatisfied with the seller’s response to a request for an inspection and inspection contingency.

You lose the right to have the home inspected and to negotiate over defects found in a home once the contingency period ends.

What is a home inspection?

As a home buyer, it is your right to have your future home inspected for potential faults and defects. Therefore, don’t skip this step!

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Estate Agents and Property Inspections

When Estate Agents Should Insist On An Independent Inspection

independent inspection
An independent inspection and report protects both the estate agent and the seller

The EAAB (Estate Agents Affairs Board) encourages buyers to have a home inspection. However, which buyer ever reads the articles on the EAAB’s website? Maybe estate agents read the articles and the EAAB encourages estate agents to advise buyers to have an independent property inspection?

Most estate agents prefer not to have an independent property inspection, mostly because of concerns over defects that may make the sale fall through and because of the cost involved.

Estate agents should know better! Insisting on an independent property inspection may save the agent from strained relationships with both sellers and buyers. Furthermore, an independent inspection will prevent damage to their reputation or possibly even costly liability later on, should problems occur with the condition of the property.

An independent home or property inspection doesn’t kill a deal by forcing sellers to disclose defects that they wouldn’t otherwise have known about. Any defect that is serious enough to kill a real estate transaction is best discovered before it can kill the deal or result in litigation at a later stage.

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