REO Listing Brokers Reduce Withdrawn Bids
Selling houses in “as-Is” condition seems like a quick and easy way to sell bank-owned properties. Despite the “As-Is” agreement, buyers want to understand what “As-Is” means. Un-expected defects turn up in inspection reports that cause the buyer to reconsider his or her offer. Properties then go back on the market to wait for subsequent offers.
More and more successful REO listing agents are qualifying buyers by requiring them 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. But this is still a time-consuming process as the buyers and listing agents have to wait for the inspections to be performed. It is also a waste of money as each buyer must hire an inspector at an average cost of $375 – $400 per inspection.
The San Diego Real Estate Inspection Company, one of San Diego’s largest inspection companies, has devloped an innovative program that is free to the listing brokers, and saves buyers hundreds of dollars. The REO Pre-Inspection Program closes the gap between pro-active brokers who want to qualify bids, and buyers who don’t want to spend hundreds on an inspection for a house they may not get. The company inspects the REO properties AT NO COST TO THE LISTING BROKER. Inspections are immediately uploaded, and are available for download for a greatly reduced price of $99.
Benefits to REO Listing Agents:
- Eliminates negotiations after bid acceptance
- Removes inspection from contingency period
- 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
Benefits to Buyers:
- Inspection report is immediately available
- Saves potential buyer hundreds of dollars
- Inspections performed using advanced techniques including Infrared Thermal Imaging
- Independent third-party evaluation of the property
- Provides info required to make informed bid
- Saves Time and Money
This inspection program is so unique, we have been issued a provisional patent. For more details, please visit The San Diego Real Estate Inspection Company and find out about all of our great services.
This entry was posted on Saturday, July 4th, 2009 at 6:39 am and is filed under Inspection News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
