Now
that the real estate market’s improved, you may be thinking it’s finally time
to sell. Before you put your house on the market – especially if it’s an older
home – you should consider getting a professional pre-listing inspection. More
often than not, sellers who believe their house is in tip-top shape are shocked
when the buyer’s inspector shows up and finds their home needs a lot of repairs. (One thing to keep in
mind: it’s the buyer’s inspector’s job to find lots of things wrong, and buyers
are notorious for making a big deal out of a little repair in order to
re-negotiate price or make your paying for these repairs a deal-breaker).
The most important thing to keep in mind
is: It will cost you more to address a problem — by lowering the sale price —
once an issue turns up in a buyer’s inspection, because for every real dollar
of cost to you to repair something, the buyer thinks it will cost them $2 or $3
more, and they will reduce their price accordingly. You’ll breathe easy during
the buyer’s inspection if you’ve already done an inspection of your own. A
pre-listing inspection will tell you exactly what needs fixing before you begin
your search for a buyer. Inspectors will look for problems with the roof, the
air conditioning system; electrical problems; signs of water damage, mold or
leaks; termites; and structural or plumbing problems.
Speaking of termites, make sure to get a separate inspection for that.
As a word of caution: there are some companies who will offer to inspect a home
(for a buyer or seller) for “free.” It’s not unusual for termites to be “found”
during these so-called “free” inspections because the bug company knows the
seller or buyer will most likely pay for a monthly service contract – which is
how these companies that offer “free” inspections make money. But guess what?
I’ve heard of cases where there never were any termites! The bug company lied.
And they just killed a real estate deal in order to get a service contract.
So, if you’re going to get a termite
inspection, make sure you pay for it. That way you know you’re dealing with a
company that makes money by doing inspections and not by lying to homeowners about having termites when they don’t.
If termites are found, then make sure
the bug man shows you the signs/evidence of the infestation – trust but verify!
