You've put your house on the market. The showings are rolling in and you've finally negotiated and accepted a great offer. Your home is Sold! Not...So...Fast. We must now make it through a passing home inspection to continue with our sale. This is the time where tensions can rise, negotiations can reignite and without a game plan, the deal can even fall through. Follow these tips to ease the process, get through the inspection and keep your house sale on track.
Pre-Inspection: One of the best home selling strategies available is getting your home pre-inspected before it hits the market. A licensed inspector will perform a typical inspection that lasts around 2 Hours and prepare a professional report. You will get a chance to see all of the potential issues in your home and repair them ahead of time. You will also have the opportunity to showcase your home if it is in great condition or make necessary price adjustments up front. This information will be made readily available for buyers at their showings. Interested buyers won't second-guessing a home because of unknown costs when all of the information is right in front of them.
Gather Paperwork: Any receipts, warranties, history of work completed to the home, etc.... Have this information available for Buyers, Inspectors and Appraisers. The more information we have to help your home sell will be vital in obtaining a great offer and it selling at the best price.
Be open for negotiations: Once a potential buyer of your home has performed their own inspection, be prepared to work together on final negotiations. Even a brand new home can have issues arise. I do not know of 1 home that has a spotless inspection report. Your Realtor® will review the report with the buying agent and receive a request for repairs if the buyers have requested so. You will then work with your Realtor® to determine what is possible for you to accept and what is unacceptable items requested for repair. You will be notified if specific items are critical for the buyers loan to be approved or what items are potentially negotiable. They key is to compromise. The buyer wants to buy and you want to sell. Work together to find a way to make it a win-win situation.
Be Diligent: Once agreed upon repairs have been confirmed, don't delay. Obtain multiple quotes and schedule repairs immediately. Keep receipts of service handy for all parties involved and expect a quick re-inspection to verify work is done. A delay on the repair side can hurt a loan, delay closing or even allow a buyer to cancel if not done on time.