Spacer

Today's Mortgage Rates


Amount:
- powered by Loan.com

Community Forums

Featuring over 100 topics of interest to DoItYourselfers.
Email Page   Print Page

FSBO Sale Takes a Turn

  • Currently3.01/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
out of 551 votes


FSBO Sale Takes a Turn
By Barry Stone

Dear Barry,

The house we're buying is for sale by owner, and our offer is contingent on the outcome of a home inspection. My boss is a licensed electrician and has volunteered to do the electrical portion of the inspection. But the seller objects to this and won't even allow him on the property.  Does the seller have the right to do this? -- Bridget

Dear Bridget,

One problem with "for sale by owner" transactions is that they typically involve purely verbal agreements. If a real estate agent represented you, there would be a standard purchase contract with specific clauses listing the types of inspections to which you are entitled. If you are working without a contract, inspections are subject to agreements between you and the seller, unless the laws in your state set standards for pre-purchase inspections. To determine whether you are legally entitled to inspectors of your choice, consult a real estate broker or a real estate attorney in your area.

On the other hand, a separate electrical inspection may not actually be necessary. A fully qualified home inspector should be able to provide adequate evaluation of the electrical system. If defects are found, the inspector can recommend further review and repairs by a licensed electrician. At that point, the seller might be persuaded to admit your boss.

One last thought: To some buyers, a seller's refusal to admit an electrician or other specialist on the property is regarded as a "red flag" warning. It raises questions regarding the willingness to disclose defects. Does the seller have something to hide?  Maybe yes, maybe no - but defensive postures of this kind do not encourage confidence.

Copyright 2002-2006 Barry Stone. Distributed by Inman News Features

Sponsored Articles of the Day