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When you and a buyer agree on the sale price of your home, the sale will be contingent upon a successful home inspection. If the home inspection reveals problems, the buyers may want to renegotiate with you, and ask that you reduce the sale price in accordance with repairs or problems. If you have arranged to have your home inspected before you list it, you can avoid any unpleasant surprises.
For the majority of sellers, pre-sale expenses are unwelcome. Available funds are spent on sprucing up, cleaning up, and making repairs. But a pre-sale inspection is worth much more than it costs. For example, you can present a full disclosure of the property’s condition to each prospective buyer. If the buyer is happy with the inspection, the purchase offer will be based upon full knowledge of the property’s condition, and an agreement can be reached more quickly.
A professional inspector will evaluate the major systems, including the electrical, plumbing, heating, air conditioning, appliances, fireplace, roof, and the foundation. He or she will go over the house and systems with extraordinary care, and then report on items that need to be replaced or repaired. The home inspector can also estimate the useful life of the systems, equipment, the structure, and finishes. A home inspection doesn’t specify cosmetic imperfections. But it does reveal serious problems, and advise what must be done to correct them.
A home inspection report exceeds the legal requirements for seller disclosure. By revealing a larger body of information, you effectively limit future liability. Plus, a pre-sale inspection shows buyers that you have nothing to hide. Buyers are more willing to accept any defects of the property if they are initially disclosed, and not “uncovered” by a home inspection later.
When faulty conditions are discovered later in the escrow process, buyers typically expect the repairs to be made at the expense of the seller. The case for a pre-sale inspection is a strong one, and serves both the seller and buyer. |
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