Top Real Estate Deal Killers

A deal can look “under control” right up until the moment it collapses and the frustrating part is that the trigger is often preventable. We’re Joe Skipper (Skipper Realty Group, brokered by eXp Realty) and Cody Wilhelm (Residential Mortgage), and we’re putting real numbers and real accountability behind the mistakes that kill real estate deals. If you’re buying a home, selling a home, or working in lending, this conversation is built to help you spot risk earlier and keep your transaction moving. 

We start with what we’re seeing in the market: a fast start to the year, then a sudden slowdown, plus the way mortgage rates and headline-level uncertainty can change consumer behavior. From there, we get personal for a minute about parenting and communication, because it mirrors what happens in real estate too. When people feel overwhelmed, they shut down, miss details, and make rushed choices. 

Then we jump into our “Top Mistakes That Kill Real Estate Deals” countdown and call out who’s to blame and what to do differently. We cover buyers making big purchases during escrow, sellers overpricing based on emotion instead of comps, agents failing to vet buyer financing, and lenders creating last-minute closing cost surprises. We also dig into inspection waivers in competitive markets and why sending an inspection report to underwriting can create problems you never needed. We wrap by teeing up part two, where we’ll finish the remaining deal killers. 

If this helped you, subscribe so you don’t miss part two, share it with a friend who’s house hunting, and leave us a review with the biggest real estate mistake you’ve seen up close.

Transcript

Welcome And Quick Catch-Up

SPEAKER_01 0:48

Hey guys, we're back with another episode of Venture with Joe and Cody. I'm Joe Skipper, the owner of Skipper Realty Group, brokered by EXP Realty, and there is my buddy Cody Wilhelm with residential mortgage. Uh yesterday I or last week I pointed this way and it went the opposite way in the video. So I don't know.

SPEAKER_00 1:02

Oh, did it?

SPEAKER_01 1:02

Yeah. It was weird how when I downloaded it and put and uploaded it to YouTube, it was like I was pointing the opposite way.

Building A Home Podcast Studio

SPEAKER_02 1:08

Ah, it's a little trick-aroo. Yeah. How are you? How are you? I'm doing good. I always like try to swipe my video over to where it's closer to the camera. I don't know if that makes more sense to be like looking at the camera or like looking the other way.

SPEAKER_01 1:21

I see what you're saying.

SPEAKER_02 1:22

I don't know.

SPEAKER_01 1:22

One day we'll have like multiple cameras so that it can change the angles and you know we'll have a podcast producing. Dude, we'll have we're gonna have everything. I'm thinking of. I'm thinking of doing uh our guest room as a podcast studio. Not like a not like an in-person necessary. It's your house, yeah. Yeah, I was like uh this this office is great, but it's um they're they're kind of it's in an office facility that's like you know, not in it, it's just rents out individual spaces, individual offices. And it took over new ownership, and I'm not sure if they're gonna keep me. They might want a bigger business in here rather than in individual office spaces. So maybe out of necessity, maybe out of but yeah, you know, I think like we have a we have a nice guest room. AI is like helping me kind of design it and see what it looks like, and it's always exciting to see what it could be. So yeah. Um yeah, so maybe maybe you have a new new design here soon. I like it. Probably later than sooner, but but sure.

SPEAKER_02 2:20

I want to do like a little echo, like you know, the padded walls and stuff.

Arizona Travel And Livestream Timing

SPEAKER_01 2:24

Yeah, really cool. I don't know. I'm having an echo in my in my mic right now, and it's annoying. But yeah, by the time people are uh watching this or seeing this, I'm going to be in Arizona visiting my family and friends for the second part of the week. Um yeah.

SPEAKER_02 2:40

Um I'm jealous.

SPEAKER_01 2:42

You're you're seeing a historical historical recording. I'll be in there. But our live stream will be in Arizona. It's like time travel. But I know I'm talking to them as if it's if it's Friday, because we post Fridays. Yeah. But but Thursday will be a live stream. So anyways, it's really weird.

SPEAKER_02 3:00

It's you know, people are gonna have to really pay attention to track down where is Joe.

Spring Market Hopes And Slowdown

SPEAKER_01 3:05

I know, I know. Um but yeah, that's the plan, man. We got spring break coming up, so we're gonna do that, or doing that right now if you're watching this on Friday. But yeah, yeah, um, yeah.

SPEAKER_02 3:15

Dude, uh this year's gone by so fast. Um they always do, but I feel like this year's especially it felt like I think partly because we just didn't really have like in the northwest, we didn't have what felt like a typical like winter. Um we had a little bit of cold, but the even the rain, like we've had big heavy rain, but not to the not where it's just like a month and a half of just rain every day. Like I don't know, it's felt like it's just kind of blown by and and now we're halfway through March. I know it's wild.

SPEAKER_01 3:48

I don't know when when does spring officially start? Like officially date wise. Is there a date?

SPEAKER_02 3:53

Uh April 20th.

SPEAKER_01 3:57

Oh, okay. Oh, okay. That's late. I feel like I was thinking about it.

SPEAKER_02 3:59

I know, I thought so because I thought it was gonna be March, but I think when I looked it up the last time, it was I think April 20th or April 21st.

SPEAKER_01 4:06

Yeah, I'm looking forward to it because you know, we had a busy January in the real estate world, and then February and March ish have been like slap. I've I've felt the same right out of the gates on on January 1, and we're like boom, boom, boom, and then it just stopped. And I don't know if that's the war that's going on or that's like a little bit more hesitancy. But it's I need some spring, I need some spring real estate market pickup.

SPEAKER_02 4:32

Yeah, I'm I've I've wondered that same question, especially over the last couple weeks now. Like, I don't know how much people pay attention to what's going on in the world, right? Like I bet there's probably plenty of people that that really don't even know that there's conflict going on or or where it is, war going on. Yeah. Um so I always wonder like how much because I know you and I we pay attention to a lot of the stuff that's going on because a lot of it has an impact on the rates and and investments and stocks and everything. Um but I've wondered the same thing, especially over the last couple weeks, because it's been it's been uh you know, it's been quieter over the last you know, month or so. Um and it's hard to know if that's just the ebbs and flows of of the market and and who's reaching out to you specifically. But it does, you know, it kind of they I feel like they kind of correlate sometimes though, too, because rates have gone up quite a bit since the last two weeks.

SPEAKER_01 5:28

Um so yeah, I feel like it's not just me, agents have been the same way. Even the actual listings right now, they're like, yeah, what is going on with this activity? Uh-huh. Uh there's just not a lot. Yeah, yeah. Which is typical of a winter month. But January violated that principle, and now it's like back to normal. So it's kind of all over the place. But um, that's been our market, that's been our real estate world for years. Isn't it hasn't followed a pattern that we expect to follow.

SPEAKER_02 5:56

There's no norm.

SPEAKER_01 5:56

That's why everyone still has that spring mentality, and it's like maybe I don't know. Right. It could be summer. It could be who knows what what it's gonna do.

SPEAKER_02 6:06

So yeah, I mean it's felt like that way the last couple summers too, where it's like, oh, there's excitement that builds up, and then you get through summer, and you're like, that wasn't really that different than the rest of the year has been. So yeah, yeah.

Kids And Hard Conversations

SPEAKER_01 6:17

Yeah, we've had steady business, but not uh it just yeah, like I said, it was it was more than steady on January in January, and then just kind of slowed down. So yeah. And try explain explaining the war over in the Middle East to your nine-year-old daughter who acts trying to like say it in terms that like a nine-year-old, you know, like you're you're not gonna have a political discussion or whatever with a nine-year-old.

SPEAKER_00 6:43

Right. Yeah.

SPEAKER_01 6:44

But she asks about it. I'm like, hmm, how do I put this in terms, you know, of all that? So even her teacher was like, you should ask your parents. It's pretty smart. Yeah, so smart teacher right there. Yeah, yeah. Um that's funny. Yeah, and you start and you try to get this like very well thought out thing, and she's like nine, and she's like, I don't stop. I don't I asked a nine-year-old question, I don't care. I didn't know I was going this route.

SPEAKER_02 7:07

Right? Oh I get that. Sometimes Zeke will ask, he's eight, and he'll ask something similar, right? Where it's kind of like, okay, I need to come up with a good answer here because this is a big kid question. Yeah. I get like 20 words into it, and he's like, He's like, What? What did you say?

SPEAKER_01 7:26

I don't even care.

SPEAKER_02 7:27

Why do dogs bark all the time?

SPEAKER_01 7:29

Like, what? I was ready for this conversation for like three hours. I was prepping this conversation. So yeah, having kids is great.

SPEAKER_00 7:38

Like, I know, it's fun.

SPEAKER_01 7:40

I was like trying to dive on that note, I was trying to dive deeper into Rory and just be like, hey, like, you know, how are you feeling? Like, what's your mind? Like, how because the I saw this thing on TikTok about you know, you know, especially quieter kids, like like you think that they're you think that they're well behaved and everything, they've got it all together, and they've got and that's Rory. You just think on the surface, like he's just totally calm and cool, no issues, collected, and they're like they have the same mental issues and and struggles and whatever. Yeah. So I I did that like the other night. Like, hey man, like what are you what are you thinking? Like, what like how's everything going? He's like, he's like, what are you talking about? Leave me alone. What are we trying to do here? Like, I just need to go to bed. Like, yeah. Oh, we try, we try, man.

SPEAKER_02 8:27

Dude, it's tough. It's it's so tough. Like, I uh we've had conversations about it before, but like I feel like women in general tend to be able to have more of that like emotional connection. And and I know it from my own, you know, I was way more likely to talk to my mom about certain things about girls or you know, the emotional side of things. Um, and it's probably just because my mom was always talking to me about anything and everything, versus my dad was just more like you know, the dad. Let's just work instead of talk, like let's let's be productive here. Um and I try not to do that. I'm also not like the like the deep dive into the emotional stuff all the time, but I think it just kind of, you know, a little side turn here, but it's like it just shows to me the importance of the the you know, a mom and a dad. Like they they have different very different roles in what they can provide, and so um I think sometimes it's good for us to know too. Like, I I can't be that version, I can't be the mom. I mean, I can try, but it's just funny how there's like a comfort that goes to one or the other, or your kids more likely to come to you for something and then they would go to mom for something else.

SPEAKER_01 9:41

Yeah, and I think yeah, it's I think just even being open about it and talking to them helps because they'll remember that talk to me about it, and he's like, I wasn't able to. Yeah, that's the hope anyway. I know, right? Yeah, because yeah, our parents were my parents were great parents, but it wasn't like my dad was like, Hey, how are you feeling about everything? Like, yeah, it was like no, like what sport is going on and like how is practice or a game and that was that. Uh huh. That's fine, you know.

SPEAKER_02 10:09

So I know and I feel like I have to I have to work on that too. Yeah, like that's a a conscious thing that I have to be working on when I'm having those conversations because I that's naturally where my head goes too is like, hey, what's you know, how was weightlifting today? And you know, you're kind of just talking about things that they're doing rather than special dude stuff, yeah. Yeah, exactly. Rather than like deep diving into things and making them feel like, oh, I can talk to dad about this stuff too. For sure, for sure. Yeah.

Big Purchases During Underwriting

SPEAKER_01 10:38

Um, well, on a different note, I was gonna go over some of the uh countdown of where I was where is my notes? Where are my notes? Um top ten mistakes that kill real estate deals. And oh yeah, only who's to blame? Because you and I love putting the blame on people, especially if it's not us. So uh yeah, so let's just get started. Number 10 mistake is buyers making big big purchases, mid-transactions, say car, furniture, new credit cards. Yeah, who's to blame, Clayton?

SPEAKER_02 11:13

Oof, you know, I'm gonna say it is a co-ownership between the the lender not doing a good enough job of saying like putting an emphasis on that. And I think sometimes we we just assume that people know or that they would be asking um for something like that. But I but it's ultimately on us because I think if we as lenders did a good job and said, Hey, don't don't do anything crazy here. If you need to purchase something out of the norm, talk to me first, let's make sure that it's gonna fit. Um, you could probably prevent 99% of those things from happening. Yeah, um, and then that one percent, I guess I'd put on the on the buyer for not consulting and and just kind of going, all right, well, hey, cool, let's just do this. But I think it it's just education, though.

SPEAKER_01 11:59

Like some people are like, look at you, just wanting just wanting to be a good lender. I'll I'll fall on the sword. I think it's the buyer. You're an adult, like you should know not to make a for sure. I I somewhat agree with you, but I do think you know, obviously you should know not to make huge purchases when you're purchasing a huge house. But I guess you could argue that the lender should have told them if they've only bought one or two homes in their life, that's not a common common place to be in.

SPEAKER_02 12:29

Right. And you think that there would be a little bit of you know, wondering from the buyer side of like, I'm showing you my whole financial life here. Like, I wonder if I should check with them before I buy this new car. Yeah, that that to me seems like it would be a normal thing, but again, I think it's I think it's an education learning moment.

Overpricing A Home On Emotion

SPEAKER_01 12:50

Especially like I think like you should give buyers more credit. It's like they don't they don't do it a lot. No, they don't we see it as such a common sense issue, but it's yeah, maybe not. So yeah. Well, number nine, and you can answer this, and I'm gonna probably play the politician again. Okay. Or rather than you, is sellers overpricing based on emotion, not comps. Who do you think? Who do you who would you blame, Cody?

SPEAKER_02 13:13

Oh, I would, I mean, this this is my own non-real estate agent view. I would blame that on the seller.

SPEAKER_01 13:21

Okay. Okay. That's that that's what the stats are saying. Yeah. But um I would say I would say yes. I hate doing this because I'm just doing the same thing you did. It's like it's on the selling agent as well. Um obviously sellers are gonna try to overprice based on emotion. That's 99% of sellers. Is it gonna do that? Um But it's on the selling agent to tell them what the what the cons are of that and why that doesn't make a good decision. Um and really back that up with statistics and data. So I would say that a lot of agents in this environment, especially, will tell you whatever you want to hear to get the deal. And we've talked about this enough. It bothers me even just saying it again. But it's like there's our sellers, agents out there that will promise you the world knowing that they're gonna get you the price that they think you should get. Say you want to list your house for a million, it's worth 850,000. There's agents out there that's out there that tell you that you sell it for a million dollars. Sell it for a million. Knowing that in 60, 90, 120 days, you're gonna have to drop it. They're gonna sell it for a million dollars. Knowing that they're wrong, they're wrong, knowing that they sell is wrong and just wanting a deal.

SPEAKER_02 14:37

So you know, you know what's interesting about that, and well, never mind. It doesn't really correlate, but it's funny to me how there's certain rules in the lending side and not on the real estate, and certain rules in real estate that are not in lending.

SPEAKER_01 14:50

Oh, it's the Wild West in real estate. Christina was in Bank America forever. So she was on the strict side of like lending, like just you could not put a period after something or it's gonna get your loan you know, you know, yeah thrown out. And so uh but but man, real estate. Yeah, I think that's unethical behavior. But how do you prove it? Like how do you say that that agent knew the price was not that price, the person priced it that that way, you know, and ultimately it's the seller's decision, it's their home. So you're guiding them, but you can only guide them. So like I've had cases where I've told them you're not gonna get this. I'm happy to listen for whatever you want, but you're just not gonna get this price. And I think if you're honest about that, you just can never tell, you can never audit that with agents. And I know I don't know. I know this community, and I know like there are agents out there that truly don't will never say you won't get this. They'll say, Yeah, yeah, try it. Why not? Why not you know?

SPEAKER_02 15:47

Right. So anyway, like in the mortgage world, that's called a bait and switch. Yeah, yeah, you know, where it would be like, Yeah, we can get you this for you, and then it and then they they move forward and it comes down to a point where you're like, Oh, hey, that's no longer available. Yeah, um, so we're gonna get you this.

SPEAKER_01 16:02

And yeah, that's interesting. I don't know if there's a way to do it because it ultimately it's the seller's house, it's their asset, and they can sell it for whatever they want or try to sell it for whatever they want.

SPEAKER_02 16:10

Yeah, and it's and it's market too, right? Like, yeah, there could be a person that buys it for a million because it's their dream home, or it could sit there for, like you said, 90 days, 120 days, and you're like, Well, this was false hope, but yeah, that's so um depends on you know, I guess there is a possibility that somebody buys that example for a million dollars, but I don't know. It's a it's a tough one. I think it's probably harder for you too, like seeing that and knowing that that's part of the strategy is just like I'm gonna tell you yes so that I can get the listing and do this, and then whatever happens happens.

Vetting Financing Without Oversharing

SPEAKER_01 16:43

But you know, I'm gonna just knowing that I'm gonna get try to make you happy uh that I think it's at, but yeah. So, anyways, anyways, yeah. Uh okay, number eight, agents not vetting buyer financing before accepting an offer.

SPEAKER_00 16:57

Oh.

SPEAKER_01 16:58

So obviously that's on the agent. Um that means is basically if you're representing seller seller um and you know, it comes in from a buyer, verify their financing uh before accepting the offer. So calling a wander, like reaching out, finding out what their financial situation is.

unknown 17:16

Yeah.

SPEAKER_01 17:17

How often do you say that people do that?

SPEAKER_02 17:20

Um I would say that's a good idea.

SPEAKER_01 17:21

Do you think it's a lot, or do you think agents just kind of trust separate approval order?

SPEAKER_02 17:26

I would I would if I had to put a number on it, I'd probably say it's about 50% of the time. Um I usually tend to reach out at the beginning, like when I know the offer's getting submitted, if everybody's cool with it, just to reach out to the listing agent to kind of confirm that. But yeah, I'd say 50, maybe a little less than 50, actually. Maybe like 30% of the time. Um, which is usually a good sign when when the listing agent reaches out to go over financing. That usually means they're they're pretty interested in the offer, or just at least getting the information to present to the seller. Um, but I think it's a good idea for for any listing agent, um, because you want to know that information, but also getting clarification that, hey, you know, have everything been has everything been looked at, and how much do you know? Is there anything else that's left? Because I I don't know. I I would like to assume that everybody that's that's sending out a pre-approval letter, it's it's all been verified and good and looked at, but yeah, um you never know. Because that might it might be that person that's like, well, you know, I've yeah, they told me all this stuff. I'm just waiting to get all of their documents.

SPEAKER_01 18:38

Well, there's two parts of that. One, I like what you do because you proactively call um agents. Like if you get a pre-approval, you know, if we write an offer, you're like we'll actually call the agent proactively, which I think goes a long way in an offer so showing the lender is not just waiting for the call. Not that it's bad to wait for the call, um, but it's just doing taking that extra step. I think uh has made differences in our deals. Yeah. But what is a listing agent when they call, what are you allowed to tell them about the client?

SPEAKER_02 19:07

Um I I tell them what I have verified. Okay. Um, and if we've got like I'm not telling them personal information, credit scores, or you know, how much money they make or or whatever it might be. Uh I'm just telling them, hey, we've we've verified pay stubs, W-2s, we've pulled credit, we've ran it through the automated underwriting system, the assets are in the bank, or they're getting a gift, or what I just kind of give them like a general overview on yeah what things are looking like. Um, and and if it's you know, certain situations that I feel like is is um less risky, if you will, I will I will clarify that. Like money is already in their bank account, so they don't have to move any money around, we don't have to worry about anything like that, or they're salaried employee, so their income is set, so we don't have any any concerns with income. Um that way they know too, like this is a solid money's in the bank, income doesn't vary, they're not selling a house, like yeah, super about as guaranteed of a loan as you can get. Um, I will make sure that they understand that. If it's not that situation, I'm not gonna be like, hey, we're you know, we're trying to make sure we count as much income as possible, and I and I I think we're there, but um I'll tell them I'll tell them the the overall like view of what's going on.

SPEAKER_01 20:31

So uh question there, and uh you probably the answer is no. You sometimes have as a listing agent multiple competing offers. You offer, say, 700,000, you know, you're your buyer. Um we have a$710,000 buyer that comes in with another offer. Are you able to verify that they could afford more? I probably know, but you know, yeah, it's always that weird gray area of like you don't want to push the lender, it's your client, you know, you're you've got a privacy issue and you've got to benefit them. Right. So for me to as the listing agent saying, hey, we have another other offer at 710, we haven't talked to the to your buyer, but can they afford 720? Yeah, that's probably no, right?

SPEAKER_02 21:13

I yeah, I I would uh I haven't been asked that.

SPEAKER_01 21:20

I always want to ask it just because I'm like, yeah, you know, I I get that every you guys all give the canned, and it's not can, I don't want to be rude, but it's not can't I'm not meaning canned in a bad way, but they're qualified. Like, you know, they can do this, they can do that. It's like as an agent, sometimes you're like, well, we're gonna counter back. Like they offered more than what the offer price was. Yeah, you know, um, so we're gonna counter back.

unknown 21:42

Right.

SPEAKER_01 21:42

We want to make sure that they're good to take that counter, you know. Yeah, that makes sense. But totally.

SPEAKER_02 21:47

And I and I'm glad that you actually brought this up because this this gives me an extra talking point too, um, with with the buyer and with their their agent too, to kind of go, hey, you know, I'm gonna be reaching out to the listing agent, or if the listing agent reaches out to me, because you know, when you when you're representing the on the buyer's side, it's like I don't wanna I don't want to say how high they can go up to, yeah. Because I don't want to be the one that ruins it. And they're like, why'd you tell them we can go up to 800? We're trying to go in at 700. Um, but I also would want to give that confidence to the listing agent as well to say, yeah, yes, like they're good, they've got some wiggle room. Um, and which is probably what I would say if I was put on the spot. Like, yes, they they can go over, they do have some wiggle room.

SPEAKER_01 22:31

So yeah, it's an interesting one, and I don't know what your rules are fiduciary duty to your client. And I yeah, I normally see it as a listing agent and the buying agent when you offer lower than asking, so and they're wanting you know they're gonna counter. You know, you're playing the game of like we're gonna glow ball them, see what. Happens, they counter back it, you know, but we send a pre-approval for$700,000 initially, knowing that we can afford up to$750. Right. So that selling agent calls and says, Hey, we're gonna counter back. Just an interesting topic.

SPEAKER_02 23:03

You know, it is, and it's one that I think everybody, everybody all knows the the the game that's played, yeah, but yet it still kind of has to get played because you're everybody's trying to represent their client in the best way possible. Um, so it's it is a tough, it's a tough little environment in that spot where you're like, I don't want to show the cards here, like, but at the same time, I want you to know that I'm yes, they're qualified. In fact, they could buy two of these houses if they wanted to. Yeah, it's interesting.

Surprise Closing Costs And Trust

SPEAKER_01 23:34

Yeah, yeah. Um, okay, number seven is lenders surprising buyers with closing cost at the last minute.

SPEAKER_02 23:41

Ooh.

SPEAKER_01 23:43

Whose fault is this?

SPEAKER_02 23:44

Uh in in a generalization here, I'm gonna say that is probably the lender. Um, unless something I can't think of what would come up that would be a surprise closing claw closing cost.

SPEAKER_01 24:00

It's probably not what it's indicating, it's probably not talking to them about closing costs. Yeah, that would be a hundred percent. And they're like, uh what? You know?

SPEAKER_02 24:08

Yeah. 100% on the lender. Like there should be no there should be no hidden um costs, fees. That should be gone through in the beginning of like line by line, if not summarizing, here's what it all looks like. Make sure you understand this, and I can walk through with you. So yeah, I'd say that's all that's that's all lender-based.

SPEAKER_01 24:28

And you can get you can give them a basic idea of closing costs, even in the very beginning, right? Like obviously slightly depending on offer prices and down payments and things like that. But yeah, they can get a good general idea of closing costs. I ask you a lot of like what their closing costs will be for buyers to make it an offer, what's gonna be their closing costs, and you can get a good idea, right?

SPEAKER_02 24:50

We can get a really good idea. Um, and we have a system that syncs up with the majority of the title companies as well. So I can get closer to the exact title and escrow fees from that too. Um, and then our templates that we have, it's I mean, you're you're more than likely you're gonna be within if you know what the taxes are and you know what the insurance is gonna be too, yeah. Um, then you're you're probably gonna be within a thousand dollars or maybe five hundred dollars of what it would actually be. Because you have your variables are really just the title company fees, maybe the appraisal fee, um, and then like the reserve part of it for your escrow account, which is technically considered in the closing costs. Yeah. Um, you know, if your insurance was a lot more than what we were expecting, or you know, initially we're giving a generalization on property taxes, and the the place that you actually get under contract for is$200 more a month. Like that's where those big variations come in, is just yeah, if you're giving more of a generalized, hey, here's here's an example of what you would qualify for, and then the house that they found was was you know, maybe similar price range, but just overall costs were different. That's where you see the biggest change. But the fee-based side of it, like lender fees, title fee, escrow, just appraisal, all that stuff, it's all pretty close to the same, um, over and over and over. So yeah, yeah.

SPEAKER_01 26:14

Okay, uh, number six, buyers waiving inspection in competitive markets. Who owns that? Uh that's I would you know ultimately it's the buyer. Um it's it's their right to do an inspection. I think the agent needs to be very careful about encouraging that. Um be careful to stay neutral and and or lean the other way. I generally mean the other way and tell people look, I know you love the house. There's lots that can come up in inspection. And you may love the house now, but then if you wave it when there's a foundation issue that's gonna cost you$60,000,$80,000 when you move it. You know, I just I always like kind of my disclaimer is always you need to do an inspection. You guys choose not to choose not to. That's on you. Yeah. Um uh does there are there any ramifications on a buyer. The lenders require it.

SPEAKER_02 27:10

Nope.

unknown 27:11

Okay.

SPEAKER_01 27:11

There are certain um like the Washington bonds and they're not like SHA or some sort of ones require, you know, certain programs might require it or not.

SPEAKER_02 27:20

Yeah, no, none of them, none of the main ones require them. Okay. Um but like down payment assistance programs, some of them will require them. Like we don't have to get the the inspection. We just have to get receipt that a inspection was paid for. Okay. Um just to kind of cover their their bases.

SPEAKER_00 27:39

Yeah.

SPEAKER_02 27:39

But no, if you were to do FHA, USDA, conventional, VA, all the main normal options, they're inspections not required. Okay. Which is kind of, you know, I guess you would you would think that they would want that, but maybe that's just overstepping.

SPEAKER_01 27:56

Yeah. I think like I you know, it's always like the thing of don't ever show a lender. Yeah. Oh man.

SPEAKER_02 28:03

Dude, the first loan I ever did, I'll make this quick. Oh no. First loan I ever did, um, my processor at the time, he was a younger guy and and fairly new at it, which is not a good combination to have a newer processor and a new loan officer. But I got the inspection and I was like, hey, should I send this to you? Or like, I don't know what I'm supposed to do with this.

SPEAKER_01 28:24

Yeah, yeah.

SPEAKER_02 28:25

I didn't have a great management system there to walk me through any of this stuff.

SPEAKER_00 28:29

Yeah.

SPEAKER_02 28:29

And he's like, um, yeah, I don't know. Just send it to me and I'll find out. Well, he put it in the file, and then the underwriter looked at it, and there was like a termite inspection on there.

SPEAKER_00 28:38

And yeah, oh.

SPEAKER_02 28:40

Luckily, the the termite people went out, or they were able to write us a letter stating there was no issues and we're good to go. But it was like, yeah, lesson learned. I don't, I never want to see an inspection report. I don't care.

Two-Part Series And Wrap

SPEAKER_01 28:53

Yeah, never good. Yeah. Um, well, I think let's do this. Let's do this a two-part because we've got five more left. I don't want to go like too long or about 30 minutes. Yeah. And I know our viewers have a short attention span with us. We do. Let's style this one. We'll do a two-part series and we'll just post one uh this coming week and one the next week. So I like it. Let's do that. So we'll talk next week on the uh top five deal killers or potential deal killers. I like it. Top mistakes top mistakes that kill real estate. Okay, we'll continue uh in a second. We'll talk soon. Awesome, sounds good. Okay, bye. All right, bye.