"Pre-inspecting" the Home
Beat the Deal Killer to the Punch!
Some items that come up on an inspection are safety or code related issues that - when described by a Deal Killer - can scare even a sensible buyer out of a deal. How a buyer is educated about these problems will determine whether they run away from the deal or not.
Below is a list of commonly cited safety issues and their approximate cost to repair:
- Double tapped breaker $100-200 each
- Missing GFCI outlet $40-50 each
- Ungrounded outlet $50-100/outlet or $250-500/circuit
- Missing TPR valve tube on water heater $10-50
- Reverse polarity outlet $25-50 each
Each of these items could be described in such a way that you would be amazed that the home is still standing.
And each of these items is something you can either observe for yourself, or discuss with the buyers before the inspection to let them know that they are common problems to older homes and that while they should be corrected, the danger factor of each is minimal and the cost to cure is really pretty small. And none of them costs over $200 to fix!
So, instead of letting the inspector relate horror stories about the "fire waiting to happen" as a result of the double tapped breaker in the electrical panel, simply tell them before the cover of the panel is even removed: "In most homes, we usually find one or two double tapped breakers and other minor issues. They are common and easily correctible." In fact, many of the agents who use me regularly often help me prepare clients by betting me on the number of double taps we will find. This makes it a lighthearted moment that diffuses any fears about the breaker, while still recognizing that it is a defect to be addressed for a small cost.
Another example involves ungrounded outlets.
Too often I see inspection reports with something like this:
"Ungrounded outlets are a safety hazard and are in violation of the building and national wiring codes. They need be made safe immediately."
Alarmist nonsense.
Now, I regularly tell clients when I find ungrounded outlets because A) it's my job, and B) I wouldn't want their hard drive to get zapped because they were unaware that the outlet had no grounding protection. But the inherent danger can be WAY overstated, and they are - in fact - allowable by code in older homes. Plus, cheap fixes are available.
Instead, I tell the client about how to handle them in easy to understand terms so they aren't afraid they are going to be electrocuted every time they turn on a light, and so they can protect their sensitive and electronic equipment. I also tell them that ungrounded outlets are common and at least half the outlets in my own home are not grounded - its an old house and re-wiring isn't worth it to protect my $10 alarm clock.
I have plenty more but this blog is already too long, so I'll save it for the next installment. And in case you missed Parts 1 and 2 here they are:
http://activerain.com/blogsview/1004425/How-to-Beat-the-Deal-Killer-and-Save-Your-Deal-Part-1
http://activerain.com/blogsview/1007371/Beating-the-Deal-Killers-Part-2
Coming soon... a quicky, helpful pre-inspection checklist that you can do in 10 minutes without any tools!
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