It takes an experienced inspector, skilled in communication to help educate a buyer about their home, taking care to address their concerns, and helping them understand that every ungrounded outlet is not a screaming death trap waiting to strike.

And, it takes a skilled and professional agent to help manage their client's expectations before the bid is accepted.

With that in mind, I am offering some strategies that help you:

• Troubleshoot the home before the inspection, and even before the bid
• Set buyer expectations, and pre-educate them
• Understand the dreaded "Deal Killer" inspector and deal killing buyer and how to handle them

Troubleshooting the Home

Find the Clues on the Disclosure Statement

An ounce of prevention is worth a pound of cure - or in this case, calming the fears of nervous buyers after a really tough inspection.

While you may not always be in a position to have repairs or corrections made before the inspection (especially if you are not the listing agent), you can troubleshoot the home and begin to set buyer (and seller) expectations as they walk through a home and place a bid.

Below is a list of the most expensive issues commonly cited on home inspections, and some VERY ballpark guesstimates as to replacement costs (based on experience):

• Roof repair/replacement                         $5,000-15,000
• Replace heating unit                               $2,500-5,000
• Replace AC unit                                      $1,500-4,000
• Replace electric service entry cable          $1,000-1,500
• Replace leaking cast iron drain pipes        $1,000-5,000
• Replace knob and tube wiring                  $500-750/circuit    $8,000-12,000/home
• Replace windows                                   $250-500 each
• Replace water heater                             $400-800

Of course, there are many expensive potential repairs that are not listed here, but they occur less commonly and are not as easy to identify.

Notice that each of these items is something that is either clearly visible or is listed on most sellers disclosure form.  This can help you determine the age and remaining life of each component (life spans listed below) and prepare your client, before you ever have an inspection:

• Typical asphalt/fiberglass shingle roof                              20-30 years
• Gas forced air furnace                                                    20-25 years
• Gas/oil circulating boiler heater (the kind with radiators)    25-35 years
• AC system (exterior condenser unit)                                 12-15 years
• Service Entry cable (electric)                                           40-50 years
• Cast Iron drain stack                                                       50-75 years
• Windows (double hung, thermally insulated)                     12-15 years
• Water heater                                                                 10-14 years

Simply by carefully reading the disclosure (if it is properly filled out) you can determine when a home is likely to need a new heater, roof, etc and can help adjust your client's expectations accordingly before they even bid on the home.

 Next installment tomorrow....Do Your Own Pre-Inspection and Beat the Deal Killer to the Punch