Be Proactive - Deal With Defects
BE PROACTIVE - DEAL WITH THE DEFECTS
In any residential real estate transaction, the Buyers will likely conduct home and termite inspections as part of their "due diligence" to make sure the home is in good condition (for the price). Even if you are selling your home "as-is" (which means you are not willing to pay for any necessary repairs), most buyers will include an inspection contingency clause in their offer.
These contingencies will allow them to hire any number of experts (including a home inspector, a termite inspector and a structural engineer) to make sure that the house is safe, structurally sound, free of leaks and that all the systems are working properly (i.e. that they are not buying a "lemon"). The inspection contingency allows them to walk away from the deal without losing their earnest money if they are not satisfied with the condition of the property.
Like most owners, you probably know about most of the issues that need attention around your house. Don't wait for the buyer's inspection to deal with known defects or deferred maintenance issues - the time to get ready for the home inspection is before you put your house on the market!
Most purchase agreements require the sellers to convey a safe and sound home, with all systems in working order. Issues such as plumbing or electrical problems or roof/skylight/window leaks are going to show up in any inspection report and you will need to fix them anyway before closing - so you won't save any money by delaying the repairs. As a matter of fact, it will probably cost you more to fix them, because you will be under pressure and may not be able to book your favorite, low-cost handyman on time.
Some of the most common items on inspection reports are: Loose toliets, under-performing air conditioning systems and wood rot at the bottom of doors.
Buyers may be frightened away by an inspection report that contains a long "laundry list" of needed repairs. By being proactive and fixing all defects before you put your home on the market, you may be able to sell it quicker & for higher price, and ensure a smoother contract-to-closing transaction.
This is especially important in a Buyers' Market - when buyers have lots of options to choose from - including new construction homes in the area.
To get a no-obligation opinion of what to do to get your home in PRIME SHOWING CONDITION please call us on 843-900-0155.