Timing of Inspection Periods
Timing of Inspection Periods
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Cincinnati purchase contracts contain several paragraphs about types and timing for inspections.
When buyers write an offer and check off the boxes for inspections they need to specify how long the inspection period will be. Typically buyers ask for a 10 day inspection period and 3-5 day resolution timeframe. Often sellers prefer a shorter period and will counter.
Some sellers mistakenly believe that a shorter period forces the buyer to make decisions. So, if the inspection is not acceptable the property is back on the market within days.
The shorter inspection period works well if the market is slow and home inspectors have lots of appointments available. Cincinnati’s spring and summer market have not been slow. So buyers may not be able to secure an appointment until the 4th or 5th day of the inspection period.
Consequently, sellers can shoot themselves in the foot by not allowing themselves enough time to verify or cost out requested repairs. Sellers, under the gun to respond quickly, can end up agreeing to costly and unneeded repairs. Right now contractors are pretty busy and getting bids can be a hassle.
It’s true Home Inspections take time and slow down the buying process. But they also answer buyer’s questions and may deter problems down the road. Even seller-provided presale inspection reports don’t stop buyers from performing inspections. Pre-sale inspection reports aid sellers to understand problems that may appear. Hopefully, they fixed issues before listing or at least obtained quotes for the work.
