Inspection Period & Negotiation – Podcast

by Garrett Welt
June 9, 2021
Business, Podcasts, Real Estate
0

Inspection Period & Negotiation – Podcast

https://podcasts.apple.com/us/podcast/inspection-period-negotiation/id1558292234?i=1000524810995

Transcript Intro

In this episode, Rob and Adrian talk about post-contract real estate talk. They share some insight and a real-life story of what happens after the offer is accepted. Tune-in and let us know what you think! With over 25 + years of experience as licensed real estate professionals, and a long track record of winning for their clients, Rob and Adrian will teach you what it takes to be an everyday real estate millionaire. Don’t forget to subscribe, rate, and review!

SPEAKERS

Rob & Adrian

Adrian

Welcome back to the Get Rich Slow podcast. I’m Adrian Schermer with my Co-host Rob Delavan.

Rob

Good morning.

Adrian

And today we’re going to begin diving into post-contract real estate talk. We’ve talked a lot about getting qualified and what it takes to get into a home loan, but this is more talking shop on the back-end about what really happens after the offer is accepted.

Rob

This is a fun topic. As we game-out our episodes and the concept that what we’re working with, is what are actually working on today – or even this week. And in that process how do we pull back the curtain on what’s happening in our industry and also for our guests that all have exceptional expertise in their lanes. So, basically what we’re trying to do is show you what the 2nd step is in a real estate purchase. The 1st one is getting into contract and negotiations, and all of those details.

Adrian

Yes.

Rob

This is the 2nd. Okay, we’re in contract and now we need to get the inspections done; and the inspection period is between 5-7 business days typically. I have seen on some on the super HOT properties in the Portland metro area, where some wavers and inspectors say they aren’t going to ask for any repairs but they’ll do the inspection anyway. Which is a BS way of saying, “I’m not going to ask for anything unless I find something.” (snicker) Anyway, that’s a strategy.

Adrian

Yeah, some people want an inspection waver. (laugh)

Rob

Right?! At that point they’re just trying to compete and are basically desperate. Having an inspection is a healthy thing in a healthy real estate market. And in 2006 and 2007, when we were over-heated and the bubble burst, inspections were routinely waived and that was not a sustainable thing. And the market between 2008-2011 bore that out. A lot of people lost a lot of money because they were buying stuff that was junk. And they couldn’t afford to fix it and so on…