Sarasota Real Estate News

I put a home under contract last week using the  As-Is Residential Contract form. The buyer had not yet seen the property and we were in a multiple offer situation. This contract allows buyer to see the home and cancel the contract for any or no reason during the inspection period and the buyer's earnest money deposit is refunded.

My preferred inspection company is Peace of Mind Home Inspections. Inspector Bill identified several electrical and plumbing problems on the 4-Point report (roof, heating/air conditioning system, plumbing, and electrical). These 4-Point inspection items will affect buyer's ability to obtain insurance. While the Seller is not required to repair the property under the As-Is contract, it was in his best interest to keep this deal together. 

As the buyer's agent, I brought in electrical and plumbing contractor to do follow-on inspections. Unfortunately, both the Listing Agent and Seller disagreed with the home inspector AND the plumbing contractor's findings! Wow. That has happened to me only twice in the past ten years. When the Listing Agent tries to take control of the inspection process, that's like "getting the rat to guard the cheese." 

I knew we may have a fight on our hands after the initial home inspection so I tried to negotiate repairs with the Listing Agent before hitting them over the head with a hard and cold list of must-dos. Realtor-to-Realtor negotiating didn't work. After the Listing Agent and I had a few heated discussions, Properties Title attorney Maury Azerad drafted the repair addendum to get the repairs done and protect the buyer if they weren't completed. Maury Azerad of Properties Title is the hero of the week! Thank you, Maury!

Thank you for reading my blog. If you need assistance selling or buying a home, contact Linda Holley, Realtor, GRI, SRES, CIPS, Fine Properties, Sarasota, Florida, 941-914-4914