If you’re getting ready to put your house on the market, there are probably a million things on your to-do list. It’s important that you add one more thing to your list— a home inspection. Home inspections are a common piece of the selling and buying process of a home. The results are often used to leverage the market cost of the home and can have a positive or negative effect on this process.
Home Inspections for the Seller vs. the Buyer
A certified professional will conduct a thorough inspection of the entire home, which can result in many different outcomes that can affect the selling and buying process of a home.
Why Sellers Need Home Inspections
The seller needs to get home inspections done in order to avoid potential problems before the money is on the table.
- Limits Negotiations: As the seller, home inspections prior to the sale of the house will allow you to know what your house is worth, and therefore can eliminate some of the negotiation with the buyer.
- Renovations: Your home inspector may find some minor issues that need to be fixed, such as faulty gutters, building code violations, and bad wiring. The home inspections allow sellers to fix these moderate issues before any buyer knows about them.
- Buyer Finds Major Issues: Crucial problems in homes like lead paint, mold, termites, or structural issues could cause the buyer to pull their offer.
Why Buyers Need Home Inspections
Buyers will usually hire a home inspector to take a look at the home before they make a final offer. The outcomes can affect the buyer’s decision and can sway them one way or the other.
- Perfect Home: Home inspections will allow the buyer to find everything they’re looking for, and nothing will come as a surprise when they do move in.
- Avoid Costly Repairs: The outcome of the inspection will let the buyer know what needs to be fixed, which can help the buyer decide if they want to put that much money into the repairs or if they want to drop the offer completely.
- Health Issues: The most important thing is learning of any health issues or hazards that may be found in the home. This has the potential to make the buyer immediately remove the offer because of their families safety.
How to Fix Issues After a Home Inspection
Once you receive the report on your home inspection, you need to figure out how to fix any issues within the home.
- Moderate Issues: Minor problems will slow down the process of selling your home because often the buyer will request that you fix these issues before they go through with the offer. If you don’t fix the issues, then you may lose the sale, or the buyer will negotiate the price of the home.
- Major Issues: Often, the buyer will request that you lower the asking price because this now means the buyer will have to repair and fix some of these issues. If you don’t lower the price on your home, you’ll find it difficult to sell at a higher rate. You may experience a dramatic loss in price, bad reputation, or even having to take it off the market until repairs are made.
It’s important that your home inspection is done right, especially when selling your house depends on it. If you’re looking for a professional to complete your next home inspection, the Homeinex Corporation can help! We have highly qualified professionals who will ensure that your home is in great condition. Contact us to set up your appointment today.