Eagle Idaho is a desireable, upscale community nestled along the base of the Boise
foothills. Eagle offers high-end, quality-crafted homes, fine dining, boutique shopping
and a friendly community. The Boise river meanders through Eagle and you'll often
find folks walking the greenbelt or enjoying a peaceful picnic along the banks.
Eagle offers convenient access to the entire Treasure Valley and provides direct
routes to northern ski areas, foothills hiking, river rafting and other fun Idaho
outdoor activities. If you prefer newer construction homes in an upscale market
then Eagle is the place for you. Pictured above is Rembrandt’s Coffee House in Eagle’s
quaint downtown area.
North Boise is one of the most sought after communities in the Boise area. Affectionately
referred to as The North End, here you will find classic architecture and character
in the turn of the century and early 1900's era homes. Many homes in The North End
have been fully restored to their original condition with a complementary touch
of modern conveniences. If you enjoy tree-lined streets, patio-dining at corner
restaurants and quiet and peaceful neighborhoods then be certain to see a few Boise
homes in this area during your visit. Pictured above is Boise’s historic Harrison
Boulevard which runs from Boise’s thriving downtown through the heart of The North
End.
May 31, 2021
If you have been paying any attention at all, you know how crazy the real estate market is here in the Treasure Valley. There are so many contributing factors to this; it is difficult to point at any single one as the root cause. However, let’s face it, Boise being an amazing place to live is near the top of the list.
As a full-time agent for the past 21 years, it is fair to say that I’ve seen my share of housing trends come and go, but in the extraordinary market we are presently experiencing, there is one trend I’ve noticed that is particularly troubling to me. As many of you know, buyers presently outnumber available homes, and as a result, nearly every buyer is faced with the prospect of entering into a multiple-offer bidding war. With that expectation in mind, buyers and agents are always looking for new strategies to outshine the competition. The most alarming strategy that I have seen lately involves the buyer waiving their right to conduct a home inspection.
Section 10 of the "RE-21 Purchase and Sale Agreement", which is provided by the Idaho Association of Realtors, affords the buyer a contingency to conduct a home inspection and negotiate repairs with the seller during the escrow period. The language under this section is broad in its scope and allows the buyer an opportunity to inspect not only the physical condition of the home, but “all aspects of the property including but not limited to neighborhood conditions, zoning and use allowances, environmental conditions, applicable school districts and/or any other aspect pertaining to the property or related to the living environment at the property”.
Considering that a home purchase is arguably the single largest financial transaction that a person will ever make, and considering most people would not buy a piece of fruit without inspecting it, why would any buyer waive the right to do a complete and thorough inspection of the property to protect themselves and their investment? Getting your offer accepted, but at the cost of waiving your right to an inspection in a multi-hundred-thousand-dollar transaction? Objectively, just about anyone would agree that such an approach would be highly risky for the buyer.
But what about the seller?
It is not difficult to imagine that the seller may feel relieved that buyers are waiving their home inspection contingency. After all, that should expedite the process and eliminate the chance that the transaction might fail due to inspection issues. However, consider this: What if the buyer felt compelled to waive their inspection because it was made clear by the seller that other competing offers were doing the same? Then, a property condition issue surfaces after closing that was not disclosed? This scenario is ripe for post-close legal action by the Buyer.
First, as a seller I would consider having a pre-listing home inspection. This can serve to inform you of any major issues that may exist and allow you to address them before going to market. It will also allow you to address incidental items or disclose them at your option with the understanding that it is not your intension to make those repairs.
Second, disclose all know adverse material facts about the property including anything that arose from your pre-listing inspection. Describe how those items were corrected and/or indicated that they still exist and that it is not your intention to address them with any buyer.
Third, encourage all buyers to have their own inspection at their expense and indicate clearly in writing that it is not your intention to participate in any incidental inspection repair items. This will not prevent the buyer from delivering a list of items that they would like you to correct, but it will allow you the option to decline or agree to participate at your discretion.
If you have exercised proper due diligence and disclosed fully and correctly, the likely hood of the buyer’s inspection uncovering any major surprises will be minimal. Any minor issues that may arise can usually be handled simply and are rarely deal breakers and the peace of mind you will have knowing that you’ve acted in good faith will be well worth it.
John Poole
jpoole@atova.com
208-440-9600
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