Home Inspections: 4 More Tips For Buyers, Sellers, and Realtors
Congratulations ! The property is finally under contract! It s time to have the Home Inspection. Suddenly the joy fades and everyone involved is tense. The Realtor says the Serenity Prayer (God, grant me the serenity to ...) The Buyer and Seller, though they do not know it, neither party has slept in 2 days and neither have any idea what to expect. But one thing everyone knows. The Home Inspection is one of the most difficult hurdles during the process of Buying and Selling Real Estate.
In a blog I posted, "Home Inspections: 4 Tips to Avoid the Buyer and Seller Freak Outs", I mentioned 4 ways to diffuse the stress. The responses were great and extremely helpful. Here are 4 more things that every Buyer, Seller and Realtor should consider before that dreaded day of the Home Inspection.
1) Consider Options: Sellers can consider doing a Pre-inspection Home Inspection. This is when the Seller gets their own Home inspection even before the home is up for sale. This will cost about $300-$400 and it will help the Seller determine if there are any major repairs needed to the house. The Seller can the make an informed decision whether to do corrections ahead of time or to simply disclose it and see what the Buyer will want done. This is a strategic move that provides the Seller with assurance that nothing unexpected will pop up when the Buyer does their own Home Inspection.
2) Friendly Reminder: Sellers and Buyers must remember that no home is perfect and the Home inspection is meant to uncover Structural Defects, Safety Issues, and Material Defects. Cosmetic flaws are noted on the inspection for information purposes but are not typically considered a repair item. For example:
- That rainbow mural in what will be your teenage son's bedroom is not an item to be reconciled. The hole in the wall behind the unicorn poster is another story.
- The creaking stairs leading to the basement is annoying but not a repair item. The joists at the stairs that have been devoured by termites is most definitely a repair item.
- The 7 year old heater may need to be serviced and cleaned but if it works, it is not necessary to ask the seller to replace it with a newer super efficient LEED Certified heating system. (Nice try though!)
3) Keep in Mind: Home Inspectors are hired to Educate you regarding the mechanics and maintenance of a home. They are there to point out the big and small details and what to monitor in the future. Being nervous is normal so try to keep calm and do not get alarmed. The Home Inspector will provide you with a detailed report of everything they found during the Inspection. Review it with your Realtor who has the knowledge and experience to advise you on how to move forward. And if you need clarification, contact the Home Inspector or get a specialist to provide you with an estimate of the repair.
4) Give and Take: When you are in the thick of negotiating the Home Inspection repairs, it is best to have a give and take attitude. All or nothing is great in a perfect world or when the Real Estate Market is Hot. Take it from me. Meeting in the middle is one of the highest and most sophisticated forms of negotiation and will set a positive tone for the remainder of the sales process.
We hope these additional 4 tips are helpful to both buyers and sellers ! If you find the information informative, please subscribe to our blog ! Is only a click away ! If you are in our neck of the woods, please contact us via phone or email or ask about our new office location in Northern Liberties !
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If interested in buying or selling properties in Philadelphia, contact Chris and Stephanie Somers at thesomersteam@yahoo.com or 215-400-2612 . You can connect with us on Facebook and Twitter . For investment properties, check out our new investor site at Philly Investor Hub and ask us about Philadelphia Foreclosures and Short Sales .
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