When considering selling your home, don’t forget about all the inspections the buyers and lenders may require. You may not need to pay for the inspections, but the results of the inspections may have an impact on the sale of your home. Should you consider having your own home inspection before listing the home? The answer is YES.
Just like the home stagger knows what look sells a home, the home inspector knows what repairs should be made to make the house more attractive to buyers. Over the years, professional home inspectors have identified a list of problems that typically appear on purchasers’ home inspection reports. Early correction of these problems can increase a home’s appeal, and it’s selling price. Correction also sets the stage for a favorable home inspection report should the purchaser request one, and thereby helps to streamline your sale.
According to home inspection experts everywhere, approximately half of the resale homes on the market today have at least one significant defect. Routine maintenance is the best way to prevent major costly problems from developing in the first place. So, if you’ve been putting off repairs, now is the time to catch up, as quick as you can!
To identify which components are most in need of repair, many sellers now enlist professional home inspectors before putting up the ‘For Sale’ sign.
The Home Inspection as a selling tool
In many cases you’ve spent money repainting, staging the home so now spend a few dollars and also have a home inspection. Find the property’s hidden problems and correct them in advance. You can use the home inspection report as a selling tool. What other homes that the buyer is considering has already been inspected and repaired?
There’s nothing wrong with my house…I don’t need an inspection
Ok, but please don’t be surprised when the buyer’s inspector finds items that need attention or repair. The buyer has at least three options; request items be repaired; a price reduction; or in some instances they may walk away from the deal.
The Buyer’s Home Inspection
Once a buyer makes an offer and you accept it, you have a contract. One of the most common conditions of that contract is, “offer contingent upon inspection.” The buyer is going to have a professional home inspector go through the property to make sure there are no hidden problems.
The last thing that you want is to have your deal fall through because of a minor problem that could have been easily repaired ahead if only you had known about it.
If the buyer cancels the purchase, where does that leave you? It leaves you with a property that you will have to put back on the market, and now that you know about the problems you must disclose them on the Property Condition Disclosure form.
Disclosure – Disclose, Disclose, Disclose
If you hire your own home inspector and find problems but elect not to repair them, be sure to disclose all issues to potential buyers. If there is a problem that you decide not to repair, disclose it up front and indicate that the estimated buyer’s cost to fix it has been reflected in the offer price of your home.
In some states, such as Tennessee, Disclosure or a known defect is mandatory. Home sellers and their Realtors who have known of problems which were not disclosed have successfully been taken to court and buyers awarded damages.
Nashville TN Real Estate and Surrounding Area Specialists
When you are ready to Buy or Sell Property in Tennessee then you are ready for the Tennessee Real Estate Professionals Diane O and Friends. For more information about Diane O and Friends and our real estate services please fill out the online contact form or give us all call.
|
Office: 615-371-1544
Diane Cell Phone: 615-406-2184
Mandy Cell Phone: 615-477-6959
Fax: 615-472-7931
Follow Us Online