In this short YouTube Q&A, Chris Prefontaine addresses concerns about home inspections in Assignment of Ownership (AO) deals. Kyle raises a specific issue about an old furnace, prompting Chris to explain that buyers are not required to inspect such items; instead, the AO buyer package includes a clear opt‑in/opt‑out inspection clause, and the seller’s disclosure must be provided. Chris emphasizes that agents have no liability because the AO package contains a general release signed by both buyer and seller, which has been refined over years of experience. He points participants to the smartrealestatecoach.com/getgoing portal for free resources, strategy calls, and the updated AO agreements (formerly the QLS course, now the 3 Paydays course). The discussion underscores ethical responsibilities to disclose, the buyer’s autonomy to inspect, and the robust legal protections built into the AO system.
I was just thinking on the ale that I'm looking at, that the— when I look at the furnace, when I saw it the other day, it was very old. He didn't know how old it was. He said it's working. He's had no issues with it. I mean, if I was buying it, I'd have, you know, I'd have some issues maybe with it, but I didn't know how you address that. Do I— is it just based on who the buyer that comes in, who we find?
If it's an AO debt, honestly, I wouldn't, I wouldn't worry about it at all. Morally and ethically for your buyer, get the seller's disclosure. And morally and ethically for your buyer, when you do the buyer's meeting with Nick, they have an option to inspect it or not. It's totally up to them. Every buyer package comes with the option to inspect or not, or bring your friend over, whatever. But it's their option. They sign it yes or no.
Yeah. Okay, perfect.
Not you. You have nothing to do with it. You, within, within a sign-out, you guys, in the package you get for all the paperwork we have. And again, these things have been tweaked over the years because we hit the bumps and the bruises, say, a decade ago. We've tweaked them in the AO package. You have a general release that your buyer and your seller sign releasing you. It literally says from the beginning of time. It's a general release. Yeah, it's actually funny. And but that's the general release that legally we set up. So you're out. You have no liability. Perfect. Thank you. Let me just put a plug in for those agreements, guys. You have— you all have access to them if you have the— which is now the 3 Paydays course, but the QLS course was the original name. You all have those, and those have been tweaked since we started doing deals in '13, tweaked and tweaked and tweaked. I don't know how many hours that the local firm here has, but a lot. And so they're pretty ironclad to the point where Some of it, if people challenge, you can actually back out and you're still fine. We did hundreds of deals before all these tweaks, right? So you're in good hands there. Just depending on where you are, we've hit almost every area already in the, you know, around the country.
Not sure where to get started?
Go to smartrealestatecoach.com/getgoing for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart way. We've been after this for over a decade doing exactly that.
It's funny, I actually went over that last night on the— I touched on it on the buyer call. We touched on it on the buyer call.
Yeah, they're pretty ironclad. Kyle, you can hang out as usual. I just didn't want to keep you. That's why I asked if anyone had questions. Yeah, I appreciate it. I dig it.
