Santa Clarita Home Seller Tip #1: Shorter Inspection Contingency
When you’re selling your Santa Clarita home, more than likely, the buyer for your home will have a home inspection contingency. They will have a certain amount of time physically inspect the home, review all disclosures and reports furnished by various vendors part of the transaction.
If you’re a seller who’s in a hurry to get your home closed and time is of the essence, you may want to tighten up the time the buyer has to perform the above mentioned inspections. The last thing you want is to give the home buyer 17 days to perform their inspection duties, only to learn they’re backing out of the escrow for a related reason 2.5 weeks after escrow began. Time off the market could mean money lost. The goal is to find out sooner than later if your buyer is going to stick, or not.
Shorten The Inspection Contingency
By default, the California Association of Realtors purchase agreement gives the buyer 17 days to perform all inspections and review of disclosures. I recommend shortening the time frame to 10-12 days in your counter offers to the buyer, unless the buyer offers that shorter time frame up-front, which many have started to do these days. Furthermore, if you’ve already fallen out of escrow once or twice, you may want to shorten it from 17 down to about 7 days. Your escrow officer probably already has multiple disclosures and reports to issue right away to the new buyer, if you’ve already been in escrow.
Just realize that you may turn-off some home buyers who don’t want to be rushed. Some buyers have busy schedules and can’t perform their home inspection and take the time to review all disclosures in less than 10 days. It’s best to discuss the pros and cos with your Santa Clarita real estate agent of lowering the inspection time frame for the buyer who has made an offer on your home.
Need a real estate agent in Santa Clarita? ASK Robert! You can start by calling me today @ 661-373-2374.