What is a Seller to do????
A Seller has already negotiated with the buyer on the contract, and may feel in this market, as if he has given them the deal of the century. The appraisal is yet to come so will it even match the contract price(?). Then there is the home inspection...how much will it cost??
Regardless of a Seller's dilemna or concern over the above topics, there are clear do's and don'ts for a home inspection. A Seller's fears shouldn't interfere with the inspection or the transaction.
To allow the inspection to go well(or as best as can be expected):
Do:
* Fixed known issues(leaking faucets, broken
window seals,ect) prior to inspection...if not
done prior to listing the home(best time).
* Ensure all utilities are on/filled(including gas,
propane,ect for fireplaces or like items not
ever used by Seller)
* Permit the Home Inspector and Buyer to freely
move about home and property. Ensure all
pets are under control. If you wish to follow
Home Inspector, do so at a discreet distance.
* Answer direct questions as relates to home
operation only(i.e. what light does this switch
turn on).
* Be present at Inspection(if under control)
* Listen carefully and quietly to Home Inspector's
explanation of repairs at the end of the home
inspection. Ask for clarification only for items
not understood or to define repair needed.
* Review list of buyer requested repairs with
Realtor
* Consider Realtor's input on repair request and
response to Buyer
* Get Estimates as needed if costs for given
repairs are unknown but considered key.
Don't
* Tell the Buyer that you make any repairs(would
you want to buy a home that had leaks under
every sink??)
* Debate with Home Inspector on faults of
home detected.
* Agree to repairs noted by Home Inspector
prior to receiving list of repair requests from
Buyer.
* Dominate Buyer's or Home Inspector's time
with stories of home or list of updates and
cost of updates
* Be present if you know you will debate any
repairs with home inspector or will simply
be uncomfortable hearing "your home"
being shown in an unpleasant light.
* Ignore Realtor's comments as his/her experience
and expertise are at your disposal
* Refuse a repair only because you don't know the
cost or fear it is high.
As a Seller, you don't need to given in to every repair the buyer asks for in MOST situations. Yet, there are two key questions to ask as you look over the repair request:
1. Would I buy this house if this wasn't fixed??
2. Is this repair cost(big or small) worth losing
this buyer?
Both questions require absolute honesty and, the second, a close evaluation of buyer's financial strength, current market and likelihood of attaining as good or better buyer in short window.
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