RealTown's BlogTalk

What do you think about paying for a purchasers reinspection after repairs for a closing gift?

Diane Wrote: "What do you think about paying for a purchasers reinspection after repairs for a closing gift?"

Diane,

I would recommend that you are careful of paying for any services for your client prior to closing. You could end up paying for this re-inspection and then having the deal fall part and then you are out the cost of the re-inspection. I know many agents who have paid for repairs to get a deal closed only to have it fall apart in the end. I suggest maybe re-imbursing the Buyer at closing for the cost of re-inspection if you would like to make that your closing gift.

I would check with your accountant though, because deductions for gifts have a $ limit- I think $25. It is hard to determine what is a good closing gift; I usually give a gift card for a home improvement store.

Bonnie Gilbert

Realtor/Broker/e-Pro

I agree with Bonnie. If the sale falls through you will be in big trouble. ;)

I agree with Bonnie too. And I do believe that 25.00 is the limit with taxes.

I agree. $25.00 max.

Diane,

I have been advised that when you pay for services you may end up with some responsibility for them. If all is well great, if not watch out.

My favorite gift is wine as I'm a big fan of not attempting to impose my decorating ideas on anyone. As for the $25 limit I say don't let that influence you. We don't want to look cheap.

Bill

Diane:

In the past I have given my buyers a gift card for the local improvement store. I seem to be working, harder and harder to keep the deal together (and making less). So I have decided to spend my focus on "SERVICE".

I recently challenged a compliance fee the list office wanted to charge my buyer. They ultimately waived the $300 fee. Saved my buyer $300 !!!

I make sure all utilities are on before home inspection -- so hopefully we avoid the reinspection.

Regards

Patty Meixell

Oxford, MI

I'd recomend to consult a real estate attorney in order to secure your funds. If you belong to NAR ( National Association of Realtors), they provide a free hot-line: free legal advise for members. Why not to use it? Educate yourself and don't stop asking questions. Remember, each case is different.

Zanna Vaida http://zannavaida.realtyusa.com