In our market, homeowners often prepare a disclosure packet in advance of listing the property for sale that can subsequently be shared with prospective buyers. This will usually include a slate of inspection reports in addition to standard seller disclosures. The concept is to smooth the process by providing prospective buyers with all pertinent and material information up front so that buyers know what they are getting into prior to submitting an offer and thus reducing the chance that the transaction falls apart due to new discovery. The burden is on you the buyer to review all these disclosures, but I will also do so and go through them with you. In a competitive situation, it also means that buyers are positioned to improve their offer by potentially making an offer without an inspection contingency if they so desire. If you are submitting an offer without an inspection contingency, it is also pertinent that you make sure that you can get a satisfactory insurance policy prior to making your offer. Depending on the location of the home you are interested in, Fire Insurance can be tricky and/or costly to obtain so you’ll want to make sure you know what the situation is as it could impact whether you decide to proceed or not, similar to inspection reports.
There are still cases where disclosures and inspections are not provided upfront and under these circumstances your offer will likely be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.
