Today we’re talking about home inspection resolutions. The first thing I’m going to address is what to expect from a seller perspective. When I’m sitting down and meeting with a seller about the history of their home, and we’re going through the Seller Property Condition Disclosure Statement, we will talk about what has occurred in the home. And I’ll always tell people, you are so much better off disclosing something than trying to hide it. Because people aren’t afraid of what they know, they’re afraid of what they think you’re hiding from them! Always better to over disclose in my opinion then choose to try to cover things up.
As part of my services, I’ll address any questions they might have about various aspects of that form. Now, when I get to the roof section, I stop people right there. I say, “We need to have a talk about the home inspection process here. There are going to be a few things that the buyer expects to be totally functioning in perfect working order. If they’re not, I won’t be able to consummate a home sale and get to a closing for you.” The roof is huge. Sometimes people get a surprise with the roof! Sometimes you don’t know how much damage has been done by past storms. I never see a buyer move forward with a non-functioning roof (exceptions being investor homes, estate sales, etc). But when a person is buying a home that they are going to immediately occupy, and they’re paying regular price or even above market price in this season, then they do expect a fully functioning roof.
Some other things sellers need to fix is a HVAC system (furnace and air conditioners) those have to be functioning great! Electrical problems and plumbing leaks are also things that need to be fixed. If those things are discovered and you are the seller, it’s highly likely that you’ll need to address that for your buyer.
You make think “It’s a super hot market! Seller’s can get whatever they want, charge whatever they want, and it’ll sell!” Unfortunately, that’s not always true.
Now for buyers, if you’re not buying new construction, it’s not going to be a perfect home. It still really is a seller’s market. That doesn’t mean that if we’re representing you as a buyer’s agent, we’re going to expect you to move forward with a home with plumbing or electrical problems or a bad roof…frankly, we’ll probably advise you to walk if a seller won’t take care of those basic items. Know that you are going to get a list of dozen of items that are in disrepair and are what we call “deferred maintenance.” It happens! You’re not buying a brand new home, it has a history. There are things that you are going to need to address. The inspection is a college education about that home. In a seller’s market, you’ll need to go into with realistic expectations!
The quote to commit to for today is: You get what you expect. So expect great things! Expect for the home inspection to work out fine…because it usually does.