During the course of selling your home, certain inspections will be completed. When a buyer writes an offer to purchase in Sparks Nevada, the buyer determines which inspections they feel are necessary and state who should pay for them. We usually see a "Pest Inspection" (looking for termites/bugs etc.), a "Home Inspection", "Heating & Air Conditioning Inspection", "Roof Inspection", and if it's country property a "Well Reports" and "Septic Inspection" may apply. That's the short list. Most of the time the buyer is willing to pay for the majority of these reports but sometimes the seller foots the bill. If the inspector notes that something is faulty, he will notate it on the report and subsequently send the report to the Buyer's Agent. The Buyer's Agent then reviews it with the Buyer and they prepare a "Required List of Repairs". The repair list together with a copy of the report is then forwarded to the listing agent and s/he contacts the seller for a confab. Are these ligament repairs or cosmetic issues? Will the cost fall within the previously agreed repair limitation for $$? Who will do the work? By now, the clock has been ticking and we are probably 15-20 days (or more) into the transaction. If it is a quick close (30 days escrow), the seller now must deal with repairs in addition to packing and sorting and trying to move. The sellers find themselves pressured to get things fixed quickly...you know what that means, don't you? Anytime we are pressed, it will cost more money to get the job done. Ouch. It's an emotional time as well because, well, who likes it when "professionals" start pointing out the problems and the issues..."caulk the tub" often is followed with "BUT I just caulked everything 6 months ago and now they want to caulk it again? I don't have time!" or "secure the loose toilet" is greeted with "whatdoyamean? It's not loose!". comments like "stucco cracks to be sealed" or "replace dual pane window glass in bedroom 1" give everyone visions of dollars flying through the door and the calendar does not have enough days to pull all the fix it right now workmen together.
The alternative is for you, the seller, to hire inspectors up front, take your time getting the work done and doing it at the lowest possible cost. This gives you a chance to compare estimates and fit your job into someone else's work schedule. Yeah, you are paying to the inspections but you can make that up in the deal itself. What you save in repair $$ will probably compensate you. Better offers come when a buyer knows that the house is in tip top shape. Save money, be smart and do it up front. Call your favorite REALTOR® for a list of inspectors in your area. You'll be thanking me just like my clients do!
Subscribe to CommentsComment