How to prepare for a home inspectionÂ is a thought that more sellerâ€™s should consider. Unfortunately many do not. One of the things that is quite common in the majority of all Real Estate transactions is a home inspection that is paid for by the buyer and performed by a licensed professional home inspector. When selling Real Estate a home inspection is typically done within the first couple weeks after an offer has been submitted by the buyer and accepted by the seller. The Real Estate lingo used is called a â€œhome inspection contingency.â€
This contingency is spelled out in the agreed upon Real Estate contract. The typical language in most purchase and sale agreements gives the buyer an out to terminate the contract if serious structural or mechanical defects are found during the home inspection. In some contracts there will be a specified dollar amount that gives the buyer the option of revoking the contract if issues are discovered in excess of this agreed upon figure.
In a Real Estate transaction, the home inspection is one of the biggest hurdles a home seller faces in order to have successful sale. It stands to reason that you will want to make an effort to have your home in the best possible condition before the home inspection actually takes place.Â I can tell you from experience of being a Realtor for the past twenty six years, the home inspection is where most home sales fall apart.
So how do your prepare for a home inspection?Â It may seem pretty obvious, but making sure your home is in tip top showing condition is often overlooked before an inspection.Â A home inspector is not necessarily looking at your mess but an unkempt home will give the impression of uncaring owners who possible may miss regular maintenance of items that shouldnâ€™t be neglected.
Every home seller should keep in mind that the home inspection almost always becomes a second round of negotiations, especially when it is a buyerâ€™s Real Estate market. The buyer may ask you to fix a long list of defects that are discovered, provide them with a credit to deal with the issues, or in a worse case just back out of the agreement all together.