The home inspection is the #1 deal breaker in the home buying process. As a seller, you want to be as prepared as possible for the first buyer that comes along. Once you get all of the terms and price agreed on, the last thing you want is for the deal to fall through over a home inspection.
The home inspector will typically provide a 30-60 page report detailing and photographing all major and minor problems with your home. This inspection will include the foundation, roof, plumbing, electrical, mechanical, landscaping, flooring, walls, ceilings, and other elements you may have never even considered.
It is important to know that home inspectors are very thorough, and they will find several issues you most likely were not aware of. In my experience, 99% of the time the home inspection findings are a big surprise to the seller. Have your agent discuss with you the pros and cons of having a home inspection prior to listing your home.
Typically, home inspections cost from $300 to $450 on an average sized home. As pricey as it seems, this can prevent a deal from falling through later.
Having a pre-home inspection can be a big benefit if you are willing to fix most of the repairs. This removes the element of surprise later, and you have the ability to do the repairs on your terms—not the buyer’s. For instance, if your home inspector finds a leak under the sink, you can fix it. If the buyer’s home inspector finds a leak, the buyer will request that you hire a licensed plumber to repair the issue. Doing many repairs yourself or hiring a friend can save you a lot of money. However, it is never recommended that you do major repairs or jeopardize your safety in an effort to save money. Major plumbing, HVAC and electrical work, and major construction should always be performed by a licensed professional.
If, as the seller, you are not willing to do repairs as a result of their pre-home inspection, you should not hire your own inspector because you will be required to list all issues in your property disclosures. This could make a property disclosure a nightmare and scare away all buyers. It is also important to know that most real estate litigation is a direct result of untruthful information and/or lack of disclosure in the seller’s property disclosures.
If you do not wish to do a pre-home inspection, here are some quick tips to do prior to a home inspection:
The inspection will be a comprehensive and detailed inspection, usually taking 3-4 hours to complete. These quick tips are not intended to prevent the inspector from finding anything wrong with your home. They are just some tips to give you a jump start and to prevent many unnecessary items to be listed as “not working properly” in the report.
Here are a few more pointers related to home inspections:
Because the home inspection is the biggest deal breaker in a real estate transaction, it is important to hire an experienced negotiator. The expertise of a Realtor is valuable in marketing your home efficiently for a quicker sale, pricing it appropriately to get you the highest price, and educating and counseling you throughout the entire process.
I hope this information guides you in a direction that better prepares you to sell your home!
About the author: As a licensed Real Estate Broker and Realtor, I understand the importance of giving the customer one-on-one service guided by loyalty and total professionalism. I specialize in listing both re-sell homes and new construction, and I pride myself on being an experienced negotiator who gets the best deals for my clients. I am licensed with the Kentucky and Indiana Real Estate Commission and a member of the Greater Louisville Association of Realtors, the Kentucky Association of Realtors, the National Association of Realtors, and the Southern Indiana Association of Realtors. I am a certified luxury home specialist, having the designation and expertise to assist clients in the sale or purchase of custom homes. I am also HUD certified, which allows all of Custom Select’s agents to represent buyers in the purchase of government bank owned properties. I am a lifelong resident of Louisville, and my deep knowledge of the area has given me a leg up when it comes to pricing, selling and finding dream homes for my clients. My goal is to provide you with the best realty service possible, and I look forward to working with soon.
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