Your home is on the market. And things are progressing well. You’ve got a buyer! The offer, the terms, and the price are all agreed upon. What comes next? The home inspection. And most homeowners find a home inspection to be stressful. Why?
What is a Home Inspection?
Before you and the buyers actually go to contract (aka escrow), the buyers will pay for a home inspection. Home inspections afford them the peace of mind that the condition of your house is in good order.
A home inspection is a report on the overall condition of a home. They are done by home inspectors who are trained and certified to do so.
The home inspector prepares and delivers a written report of their findings to the buyers. The buyers then use this information to help them make more educated decisions concerning their pending real estate purchase.
What to Expect on Home Inspection Day
No home is perfect. But a home inspection alleviates stress for you as the seller. Because knowing what an inspector looks for, allows you to sort out minor issues in advance.
The home inspector looks at and provides a written report on:
- HVAC system
- interior plumbing
- electrical systems
Home inspections usually take two to four hours, sometimes longer, depending on the size of the house.
While the inspection is underway, you may feel helpless or that at the mercy of the buyer and his home inspector. But just let the process run its course.
What to Expect Following the Home Inspection
Most inspectors are fair and realize that whatever is in disrepair can be fixed. And most buyers understand a house is always in need of some repair. They expect that some things will need their attention after they move in.
Upon completion of the home inspection, it may take a couple of days for the buyer to receive a copy of the report. Exercise patience. Now is not the time to negotiate or fly off the handle. Just wait for the results of the report. If the buyer comes back with a list of repairs, expect to negotiate a compromise that works for both parties.
But remember, the ultimate goal is closing on the house.
Ask for a copy of the report and schedule time with your Realtor to review the following:
- Small repairs listed that are not necessarily urgent
- Repairs that were known by both parties in the original negotiations
When it comes to making the repairs listed in the report, what are your options?
- Agree to do some repairs
- Give the buyer a credit
- Reduce the price of your home
- Do nothing at all
Remember though when you choose not to fix what needs fixing, you choose to sell your home as is and for a lower price. But this isn’t always the best choice since your ultimate goal is closing on the house.
And if there are major repairs listed, be sure to shop for the lowest cost of repair before you make a decision.
Home Inspections Don’t Have to be Stressful
Remember, home inspections are a normal part of the process. So stay cool.
Michael Reinhardt, a local attorney and Brooklyn real estate lawyer for over 20 years, wrote ‘Selling A Home Doesn’t Have To Be Stressful.’ Ask for your free copy today. There is no obligation, and the book’s information helps alleviate stress you may be feeling about the home selling process.
If you need to sell your home or have specific questions about home inspections, contact Charles D’Alessandro, your Brooklyn Real Estate Agent with Fillmore Real Estate. Call (718) 253-9600 ext. 206 or email email@example.com.
Your Brooklyn Real Estate Agent
718-253-9600 ext. 206
SOURCE: Brooklyn Real Estate Blog – Read entire story here.