How Overcoming Closing Obstacles Can Be SUPRA Easy!
You work hard to get your buyer and seller under contract. In businesses besides real estate, once a contract is signed, it’s pay day. Often in real estate, once the contract is signed, the real work has just begun… and there are obstacles between you and the closing table.
Predicting when obstacles will appear and knowing who can give you a boost over obstacles is key to keeping your deals together and done without delay.
One predictable obstacle is that VA / FHA lenders will require that well water be tested. Once the sample is captured, it is typically 3-5 business days for a certified lab to return the results. IF there are no contaminants in the sample, on to closing you go. If there ARE contaminants found, remediation of the well or well equipment will be needed, prior to re-testing of the well water. This typically delays closing another 7-19 days.
These delays are avoidable when Residential Inspector of America takes the well water sample during the home inspection, leaving plenty of time for the initial lab analysis and, if needed, remediation of the well.
Another common complication to closing is the WDO inspection. When a lender requires a WDO, they typically require that the WDO report be “clear” prior to closing. Getting a “clear WDO” can be a challenge in some homes.
Among the greatest challenges to getting a clear WDO is in older homes with past damage in an attic or crawlspace. There is often no cost-effective way to eliminate ALL evidence of damage. IF the lender is remotely reasonable, they will often accept a “structural letter” in lieu of a “clear WDO.”
A letter written by a licensed contractor affirming that the damage described on the WDO presents no risk to the structure usually gets the transaction closed. RIA writes these letters every week. When you recommend RIA’s Ultimate Inspection Package, this letter is written at no cost to the customer and is often delivered within one hour of your request. This service gets deals closed!
Radon is not common in the Jacksonville area. Relocation companies often require a radon test as a part of their process, and some out-of-town buyers just expect a radon test for their own peace of mind.
The radon test procedures established by the Florida Health Department require two visits to the home that are 3-10 days apart, then the sample kit is sent to the lab for analysis. This whole ordeal adds up to 7-14 days to get results!
If, when you schedule your RIA Inspection, you tell us that radon testing is going to be needed, we can be sure that the sample kit is properly placed, picked up and delivered to the lab in the least amount of time allowed by law. We can even begin the radon test BEFORE the home inspection if your transaction is time critical.
These situations, as well as other obstacles to closing, often require multiple visits to the home. Rather than you being burdened with multiple visits to the home, your RIA inspector can access the home to get the job done. And the SUPRA key makes it easy!
A word of caution about home inspectors and Supra key access: The rules are very clear about how to legally obtain and use a Supra key. Sadly, some home inspectors have illegally acquired Supra key access. For your liability protection, it is best to confirm with NEFAR that an inspector’s Supra access is authorized.
These are just a few of the many ways that Residential Inspector of America is working to make your real estate business simpler. You work too hard to be bothered by inspectors creating obstacles rather than solving problems.
If you have thoughts on how RIA can make your life simpler, send me your ideas and I’m on it. Email [email protected] or call (904) 590-1306.
