Negotiating Win-Win Inspections for Maximum Benefit – 2020 Edition

Inspection Flowchart
Inspection Flowchart

Everything you wanted to know about the inspection process when buying a property.

In this class you'll learn:

  • What is good faith and how does it apply to the inspection negotiation when buying properties?
  • The inspection process flow chart
  • What level of inspection are we doing PRIOR to going under contract?
  • Inspection related dates and deadlines for the Colorado Contract to Buy and Sell Real Estate
  • What rights to inspect do we have when buying properties?
  • What obligations do we have when inspecting properties?
  • What can you inspect (and object to) and what can't you inspect (or object to)?
  • Can we inspect inclusions? Exclusions?
  • Can we inspect things that are not on-site but might be important to us purchasing and using the property?
  • Objecting or terminating
  • Getting your earnest back (or not) and earnest money disputes
  • Resolving objections and moving forward with the purchase
  • Basic objections and complicated, attorney-prepared objections
  • Parties involved in inspections, their roles and responsibilities
  • What can you hide from your lender? Hint: nothing.
  • When should you discuss with the your lender the resolution you're agreeing to with the seller?
  • Should you (or must you) include a copy of the inspection report with your objection?
  • Changing your mind about your objection and deciding to move forward with the purchase anyway
  • The options you have during inspections
  • Objecting tips
  • Sample inspection objections
  • Sample inspection resolutions
  • Criminal code for dual contracts and how you can find yourself (accidentally) committing loan fraud
  • Context specific best practices
  • Asking for price reductions versus seller concessions
  • Inspecting, but not objecting as an offer strengthening strategy
  • Negotiating tips
  • Plus much, much more...

Duration: 2 hours and 11 minutes
Recorded: July 1, 2020
Instructor: James Orr