Dian Hymer's recent article in Inman News on pre-listing home inspections drives home some great points. At a time when sellers are sensitive about prices she asks whether is it worthwhile to spend the extra $400-$1000 dollars for home inspections.
On the Matt Fetick Real Estate team - serving Pennsylvania and Delaware, the answer, transaction after transaction, is a resounding, yes. We want our sellers and buyers to be educated about the property condition before they enter into a contract. It also cuts down on negotiations.
A recent listing in Hockessin, Delaware, is the perfect example. During the pre-list inspection a crack was discovered in the foundation and the seller took care of it, and disclosed it.
Discovering such a defect during a buyer's inspection while the contract is in play can send a red flag to the lender if price is renegotiated, or it could send the buyer running to the next listing.
Most commonly, buyers and their agents will over price the estimated cost to fix a problem (to be on the safe side) and the seller loses out. Much better to identify the problem, fix it and price the property accordingly.
In our example, the property sold with multiple offers in three weeks. And , it went to the pickiest buyer. As a buyer's agent, I appreciate having those inspections to pass along to my clients. A recent example was an estate sale in Malvern, Pa. In this case, there was just to much work for a first-time home buyer to tackle so they passed.
Home inspection foundation to roof and what's in between, It's what they can see, with a few exceptions and you want to make sure that access is available to attic and crawl spaces, as well as that AC and heat are up and running, ready to be tested.
In some parts of our selling area, septic systems are common with larger properties. This is a separate inspection and can be a clostly fix. A pre-list inspection means the seller can pick the inspector and when it comes to septics in our areas, there is one name that makes people quake in their shoes. If a seller has her to the pre-list inspection, there's not too much doubt about the veracity of the results.
Hymer also brings up the case when something is disclosed to the buyer, but they go ahead and ask. A house I had listed in Glen Mills had older supports in the garage and while the buyers asked, the sellers said no and the buyers removed their contingency.
For more information about buying or selling your home contact Janice Roosevelt, jroosevelt@kw.com, 610-764-3062
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