Anyone who has gone through the process of selling a home knows…it’s a lot of work! But anyone who has gone through the process of selling a home smoothly knows that one of the best ways to ensure a smooth process is to do that work upfront.
Getting a home pre-inspected (and then addressing any ‘red flag’ items) before putting the property on the market can save a great deal of headache down the road. Avoid the last-minute hassle of finding contractors! Save money by taking time to choose contractors who can offer the best deal to do the work! And, by all means, spare yourself the heartache of not being able to get the problem solved down the road, and watching a buyer walk away as a result.
Despite the fact that I have been encouraging sellers for more than 4 years to have their homes professionally inspected prior to going on the market, some sellers are reluctant to spend that money ($400) up-front when they know the buyer will still be having their own inspection; or they truly believe there isn't anything wrong with their home or they just don't want to know. Some of our recent closings, during the height of the $8,000 tax-credit frenzy where Title Companies were burning midnight oil to meet closing deadlines, encountered frustrations and last-minute inspections and repair hold-ups…cutting awfully close to closing time. And let me tell you, such a situation is fun for no one.
Case #1: Mr. Seller forgot to disclose an un-vented basement bathroom, caught by the buyer's inspector but which seller refused to correct; buyer accepted. However, the County caught it and required it to be done which led to a scramble to find contractors who could get the work done in the week just before closing. Seller again was adamant that he wouldn't pay for it. Buyer wanted the house so badly they agreed to pay 50%. Total cost borne by both: $2000.
Case #2: Miss Seller waited until the very last minute to finish repairs necessary to obtain a compliance certificate from the county, though she had been aware for 4 months of the repairs needed, leading to frantic calls to the County inspector to make sure he could re-visit the home before closing. Coupled with her incredibly busy job and the fact that she wanted to use her own contractors, there was much anxiety to ensure that nothing was missed.
Case #3: Mrs. Seller informed me the roof was old & I suggested it be replaced before going on the market; she wanted to negotiate it instead. We mistakenly let the buyer choose their own roofer because any leftover money from the $6,500 roof credit could be used for his closing costs. Buyer dragged his feet getting roof bids. The two roofers he chose came with their own set of issues: First one didn't have insurance; second quickly got insurance but wanted 50% up front; third one (the bid she got) wanted 50% down. Finally we settled on my roofer who was insured and didn't require any money up front so 4 weeks later and 2 days before closing, the roof finally went on, but the VA appraiser had to come back out and make sure the roof was on before the loan would be granted.
Thankfully, none of these sellers saw their transactions fall apart. The properties closed and everyone left the closing table…relieved. But, they each endured needless anxiety that could have been prevented. I’m sure that in hindsight, each of these sellers would have rather they opted to have their homes pre-inspected, which would have given them the chance to address most of these issues before the pressure was on to get the job done.
Your Realtor’s job is to help you expect the unexpected. (One of the reasons we urge you get your home pre-inspected!) However, we do live in a world of uncertainty, and with the changing industry practices involving lenders, appraisers, inspectors and the like, the unexpected will sometimes occur. This is why your Realtor should also be capable and well-informed, able to ease your mind and defend your wallet when those “surprises” come along. Be comfortable with and be confident in your agent’s ability to handle whatever surprises come your way. It can make all the difference in making sure that if a transaction gets “bumpy”, it ends up a smooth one.