User48892_1_t Mike Jewett
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Sellers of a home can be worried that all items listed in a report that are problematic need to be fixed before the sale goes through.

This is false. Because I represent the interests of buyers only, I admit I will disclose every major or minor thing I notice, which may affect a home's value. It stands to reason it may affect the home's asking price as well. Please understand, as the seller, it may not be 100% necessary to repair the problem, but please be prepared for that possibility.

With pre-listing inspections (dwellings inspected before listed for sale), dwellings often sell more quickly than homes that haven't been inspected until a buyer has placed an offer.

Homes with pre-listing inspections often sell more within range of the asking price as well.

 

5 Comments on The Truth About Repair Costs for Sellers

Homes with pre-listing inspections also help to SPEED up the buying process...... I love it when a seller takes my advice and spends the extra money to have the home inspected.

08/23/2007 08:28 PM by Exit Realty Showcase- Broker & E-Pro


Jennifer, excellent point. A fast sell means a happy seller. I look forward to you stopping by again!

08/23/2007 08:30 PM by Mike Jewett (JaxHomeSpy, LLC)


Real estate in MD and VA is sold "as is", subject, of course to an inspection contingency, which permits a REQUEST for repairs.  The buyer can kill the contract without asking for repairs if they don't like the inspection report.  Or, they can ASK for repairs and the seller can agree, disagree or negotiate some or money compensation. 

Unfortunately, too many inspectors give the buyer the idea that the seller MUST make all repairs listed.  They absolutely do not. 

I'm often surprised that agents would even list some of the homes in the condition we see them.  I believe the sellers just figure that if it was good enough for them, it should be good enough for a buyer. 

Sure makes it hard to get to settlement, but we do.

08/23/2007 08:53 PM by Lenn Harley Homefinders.com MD & VA Real Estate


It is difficult to prepare some clients for the inspection.  I generally tell the buyere that is it more importatnt to get an inspector to tell you everything about a property before you decide to go forward with the purchase -- even if the seller does not want to pay to fix something.  I also tell the buyer we are looking for things beyond the normal wear and tear given the age of the home -- and of course, safety or health issues -  it helps puts things in perspective and set realistic expectations.

08/23/2007 09:00 PM by Joan Whitebook, ABR,e-Pro,CEBA Southern New Hampshire (Buyer's Option Realty Services)


Lenn, I feel an inspetion contingency is necessary in all real estate transactions.

Here, the buyer can kill a contract depending on their view of an inspection report. I also agree a seller does not have to make all repairs listed. Most of the time they are minor areas of notice.

Sellers typically believe their home is perfect. It is generally not.

These are all good reason for a pre-listing inspection. A buyer normally will not kill a contract if all major areas of concern are taken care of, and a seller may be willing to accept an area of concern if a trusted inspector points out the problem in written form stating as such; especially if that problem will affect the price, or even the sale, of a home.

08/23/2007 09:04 PM by Mike Jewett (JaxHomeSpy, LLC)


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Inspector: Mike Jewett (JaxHomeSpy, LLC)
Mike Jewett
Jacksonville, FL
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JaxHomeSpy, LLC

Office Phone: (904) 695-2181
Cell Phone: (904) 534-0953
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