There are a lot of hurdles to getting a home sold. After the transaction survives a majority of the hurdles, a final, important hurdle remains: the home inspection.
A vast majority of buyers hire an inspector to determine the condition of the home and its mechanical components prior to sale. Depending on the verbiage in the Purchase Agreement, buyers can walk away from a transaction based on the findings of the home inspection. Here are a few of the big hurdles and what sellers should know in order to help the transaction survive the home inspection.
1. Improper Electrical Wiring: It's amazing how many do-it-yourselfers complete their own electrical work. All this can come back to haunt when it comes to the inspection. Sellers should make sure that proper permits have been pulled for all electrical projects. A buyer can request that electrical components be inspected, and that could entail opening up walls. Plus, pulling a permit after the fact can cost up to twice as much as the original permit itself.
2. Roof Deterioration: We've seen countless transactions where deferred roof maintenance leads to inspection issues. The roof should be properly maintained and/or repairs made before the house goes on the market. Additionally, FHA will not finance the property if the home has a faulty roof, and the lender can require a new roof be put on prior to closing.
3. Plumbing Problems: Inexpensive issues can lead to bigger issues in the inspection when it comes to the plumbing department. Fix leaky sinks, secure rocking toilets. A little bit of attention goes on a long way.
4. Drainage and Grading: Inspectors often comment on grading issues and if the layout of the topography around the home contributes to potential water seepage issues. On a rainy day, step outside with an umbrella and watch how your house sheds water. Watch for gutters that need repair, windows that might be absorbing water, and so forth.
5. General Maintenance vs. Poor Upkeep: When an inspector sees immediate signs like broken appliances, cracked or peeling paint, cracking caulking, or broken light fixtures or switches, it is a sign of overall neglect to the home. If such simple items as these are deteriorating, one can assume that the bigger and more expensive items are neglected as well.
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