REO Inspection Program
Avoid withdrawn bids. Sell houses faster.
NO COST TO SELLING AGENT OR BANKS!
The REO Pre-Inspection Program can shorten the sales cycle, increase the number of qualified bids, and reduce withdrawn bids. Join the successful agents who require potential buyers to get an inspection before they bid. We provide inspection reports for REO properties at no cost to the listing agents or banks.
Let us inspect your REO listings and post the inspection reports online. The reports are available for immediate download and review by potential buyers for only $99! This gives you the ability to require buyers to review an inspection report before they submit a bid. By doing so you greatly reduce the likelihood of a buyer withdrawing their bid during the contingency period.
Benefits to REO Listing Agents:
- Eliminates negotiations after bid acceptance
- Shortens sales cycle
- Increases ratio of legitimate bids
- Enables REO listing agents to require due diligence prior to submitting offers
- No cost to REO listing agent
- Saves buyers money
- Buyers can evaluate more homes and may make offers on multiple houses
- No added disclosure requirements – We don’t give you a report
Join the many successful REO listing agents who minimize lost sales by requiring prospective buyers to perform inspections prior to submitting bids. These listing agents reduce lost sales because all buyers are fully aware of the condition of the house when submitting bids.
Process
The process is easy. Simply contact The San Diego Real Estate Inspection Company and request an REO inspection for your listing. Once the inspection is completed, the report will be uploaded to our website, and a URL link will be assigned to you. You insert this web link into the listing description on the MLS, real estate websites such as Trulia or Movoto, or your website. Interested buyers can simply click on the link to purchase and view the report.
Frequenty Asked Questions
Q: If buyers see an inspection first, they may not bid. How does that help me?
A: Those are the buyers who would likely withdraw anyway, causing you to re-list the property. This costs you time and money, and makes you look bad to the asset manager of the property. Why not weed-out the weak buyers?
Q: If buyers know about any problems with a house, won’t they low-ball the bid?
A: A well informed buyer will offer you a fair price. The buyer will find out about the problems during the contingency period anyway, and may withdraw their bid if you don’t lower the price or fix the problem. Even though the house is sold AS-IS, they will feel that they over-bid. If they don’t find out until the contingency period, you may have wasted a week on this buyer, only to see the sale fall through.
Q: How does this program help me sell houses faster?
A: Interested buyers can download and review the inspection report instantly. There is no waiting for an inspector, which can take up to a week. You receive qualified bids from serious buyers who know the condition of the house. Since the buyer already has an inspection report, the inspection contingency can be removed. And since the buyer knows the condition of the house, they are less likely to back out.
Q: Is there a catch? Is this really free for the listing agent?
A: This does not cost the agent anything. You do not have to sign anything, pay for anything, or buy anything. The only requirement is that you have to post the pre-bid inspection requirement on your lisitng, and put the link to the report on your listing and advertising.
Q: What will the Asset Managers think?
A: They will be thrilled that you only submit strong bids. They don’t have time to waste. Reviewing bid after bid is the last thing they want to do. When you show them that your deals don’t fall apart, and you can sell their assets quickly, they will reward you with additional properties. You will be their hero!
Q: How hard is it to set up an inspection?
A: All you have to do is call our office at (888) 494-5150 to arrange for an inspection. Be prepared to give a short description of the house, the address, and a lock box code. Also, be sure the utilities are on! When the report is done, we will e-mail the report link to you for insertion into your listing and advertising.
Q: What about disclosure requirements? Does this jeopardize my TDS exemption?
A: No. We don’t give you a copy of the report. The report is uploaded to our site, and made available for buyers to purchase and download. Since you never see the inspection, you don’t have to disclose anything.
