Always remember, in real estate, 'Everything is Negotiable'.
Nathan Beckey, Realtor
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Actually some things are NOT negotiable. Here in PA, if it's a normal resale, the Seller is REQUIRED to provide the CO, and is responsible for any repairs the town requires to make this so.
I don't know the scoop in TX but I'm pretty sure that the seller will find themselves either fixing certain things or giving money to the buyer in lieu of that. And who knows what the deal is on the CO ...
Keep WARM up there in Michigan!!!
This is a timeless question and one that could likely be Googled.
Municipalities, in certain circumstances, can impose mandatory repairs. Even if that is not the case, it may be wise to work with a potential buyer and perform some repairs. In particular, FHA loans are very common and completed repairs can be a condition of loan approval. When a buyer applies for an FHA loan, the appraiser who comes out for the lender will also perform a brief inspection of the property.
Competitive forces of your marketplace might encourage you to work with a buyer on repairs. If other sellers will, and you will not, it might diminish your ability to sell - or cause you to sell for less.
Deborah Madey - Broker
Peninsula Realty Group
732 530 7755 Main
732 530 6350 Direct
While some repairs may be required by local municipalities or code enforcers, most are not. We are seeing a number of savvy home owners requesting pre-sale home inspections so that they don't have any gotchas during a "real" home inspection once the property is under contract. Of course, your due diligence is required in selecting the first home inspector as he/she may miss items that a seasoned pro would catch during round two. In any event, it is usually money well spent and helps limit the defect a buyer will face in the end. And I truly don't mean that from a revenue generating perspective. Who doesn't want to be pro-active in a tough market?
1. In some areas there are REQUIRED safety standards, such as smoke detectors, earthquake shut off valves, depends on the locality.
2. Some repairs might be required by the underwriter for the buyers' financing. For example, if there is a termite inspection, and in order for the termite clearance to be issued, certain infestations must be eliminated and repairs made.
Some Realtors recommend having your home professionally inspected before putting it on the market, so everyone knows what needs to be done and what is okay.
In most cases buyers prefer well-maintained homes. You'll have shorter market time, better offers, and less haggling.
If the house needs too much work where a buyer cannot get a certain type of loan such as a VA or FHA.
Your Realtor should be able to advise you accordingly based on what the work needed is.