Penny Wise

Posted at 2:59 AM, May. 9, 2007

I cannot again begin to express my shock when I see that in today's information society, buyers will still opt to be stupid.  What do I mean by that?  By not utilizing their option to an inspection.

Here is the scenario:  I have a listing which has just sold in 6 days by the way, but is in a low price point for the city I work in.  In a nut shell, it is a property for those starting out or wanting an investment.  We accepted a contract from what appeared to be a first time buyer whom was willing by the way, to pay nearly full price.

Two days later at her scheduled inspection, I discover that as frugle and "smart" as this buyer thinks she is, instead of hiring a REAL inspector, she has her friend (gauging from the conversation, works in construction) stop by who then proceeds to stand in the middle of the living room, look around and says, "looks good".  ARE YOU KIDDING ME??????

Can you guess my response?  I immediately called my seller and advised her instead of spending "x" amount of dollars in some cosmetic repair to not bother.  If this buyer cared so little about her investment by spending a few hundred dollars to assure that there is no serious defects wrong with the property, she surely won't care about some minor repair/improvement.  Word of advise, DO NOT BE A PENNY WISE AND A DOLLAR FOOLISH!

Buyers, utilize your option to not only get an inspection, but hire a professional.  It truly is worth it in the long run.