Show #360 Airing Sunday, 10/15/06
Question: Why would a seller want to have an inspection before they put their house on the market?
Answer: Buyers almost always have a home inspection, and for some inspectors and buyers, it has become a way to kill the deal, or at least make the seller sell their home for less money than what has already been negotiated.
Sellers have begun paying for inspections of their own before putting their house on the market as a way to head-off such deal-killers at a later date.
Question: How do you find a good inspector?
Answer: It's not all about their accreditations. Find out their background. Have they worked in construction? Better yet, have they remodeled or updated older homes? Are they familiar with older homes? What knowledge do they have of mold, which is often a major issue with old homes?
Question: What exactly will the inspector inspect?
Answer: They will look at all the main functions of the house: the ventilation, the roof, the heating and cooling systems, the structure itself, any mold that might be present, the electrical system, etc.
They will state if the system works, how old it is, and when it might need to be repaired. For example: The roof is 15 years old, it is in good condition with no leaks. It will likely be good for another five years. A hot-shot buyer inspector may simply say that the house needs a new roof and try to talk the price down $10,000.
The inspector will also point out small things that the seller may want to replace/fix before putting the house out on the market. This can also save the seller money. If not fixed, the buyer may require the issues be fixed by workers licensed to do repairs, etc. If fixed beforehand, the seller may be able to do so themselves, or used a skilled friend or relative who may fix for repairs at a lower price.
The inspector will give the seller a report on his/her findings. The seller can use that report as part of their full disclosure, and may want to make adjustments to their asking price accordingly.
Question: What happens if a prospective buyer's inspection differs from your pre-home inspection?
Answer: Most pre-sale inspections include a rebuttal of any buyer inspection in their price.
Question: How much would an inspection cost? Is it worth it?
Answer: The inspection cost usually corresponds to the square footage of the house, but most will begin around $250-$280. This amount is definitely worth it when you have buyer's inspectors trying to talk the price down $10,000 or so.
Question: Where can we find more information?
Answer: We hold free workshops on Saturdays, and a home inspector is present every week to answer your questions.
We know why someone buying a house would want to have a home inspection. But nowadays, savvy sellers are also paying for pre-sale inspection. Here to explain why this investment makes cents/sense, and dollars, is Renee Torchia from Gateway Title Agency.
Spending a little money on a pre-sale inspection of your home could save you thousands later. To learn more about Gateway's free home seller workshops, or for a free closing kit, give Renee a call.
