What Home Inspection Results Mean for Home Sellers
What Home Inspection Results Mean for Home Sellers
The most nerve-wracking moment of a home sale for home sellers is waiting for the inspection results to come back. Even home sellers who have tried to keep up with the maintenance of their home worries that an inspector is going to find some hidden problem that they will need to fix.
However, home sellers should not get an inspection back and expect to fix everything that is listed. There are many items that are negotiable or not needed to complete a sale along with some that probably should be fixed, but do not have to be. Finally, home sellers will have ‘must fix’ issues that stop a deal from going through.
Show Stoppers
Some repairs just stop everything in its tracks. These are known as “show stoppers.”
There are two option for show stopper repairs. The homeowner can dish out the cash to hire their own contractor and wait until the project is complete to process with the sale. Which can be a headache in itself. Or they can offer the buyer a credit so they can handle the problem themselves. This choice varies greatly on how quickly the homeowner wants out of the home and if the buyer is willing to put in the work to fix major problems like foundation issues or other structural problems.
The Show Must Go On
There are some problems that home sellers do not have to address directly. These problems are more minor inconveniences that the buyer would like home sellers to fix, but they are not likely to push back too much if they do not. An inspection is more of a guide to the new homeowner, highlighting problems that have to be addressed and issues that could become problems later.
If selling in a seller’s market it is much easier to avoid making repairs on smaller problems. Buyers are desperate for a chance to buy a house, even with problems. Home sellers can acknowledge the problems highlighted in the inspection and still proceed with the sale after making no repairs.
But do not lose a sale over a small repair. With as much time that home sellers have to put into each sale, it is not worth arguing over a few small repairs. If a buyer is truly going to walk away after spending weeks in deliberation, simply make the needed changes and be done with the entire process.
Something to consider is that every home inspection is different. Especially, if a different inspector is being used. They will all look at the same criteria but may uncover different problem areas.
Keep in mind that any major problems that are brought to the homeowner’s attention have to be disclosed to the next buyer if the original sale falls through.
Helping A Buyer Make a Decision
Sometimes, a buyer gets caught up on the smallest problem. Even if it will not be a major issue for them for years to come, they still think about it until they want to walk away from the property.
A good way to help a buyer have a bit of peace of mind is to offer a home warranty. A simple home warranty can be a great way to help a buyer feel like their investment in the home will be secure and the problem that they are concerned about will be taken care of.
Some home sellers will trade their major appliances for repairs. While it is not a direct correlation to the repairs needed, it can be enough for a buyer to continue with the deal. For example, if there is a certain problem that would take around three hundred dollars to fix, home sellers may offer to leave their brand new dishwasher behind to compensate for the repair costs.
There is no one way to determine what repairs have to be addressed and which can be ignored. Certain repairs will be required by the inspector as needed repairs. Anything that makes the home come up short of code is a needed repair. However, there will be many repairs that are simply annoyances that can be negotiated with the buyer.