Home inspections are meant to find faults in a home. Even if not serious, several issues are usually found in a home that might need fixing. In most cases, inspectors are sourced by potential homebuyers and are thus more aligned to the buyers that they are to the sellers. However, as homeowner this should not make you panic. The issues found could be small and you can always negotiate with the buyer on how to go about fixing them. This article looks at some things you should expect from a home inspection, as a homeowner.
- Repair and Maintenance Negotiations
No home is perfect and you can rest assured that the home inspector will find several issues with the house, even after you have had the house repaired prior to the inspection. The good news is that the problems are minor, if you have had recent repairs prior to listing the property for sale. In most cases, buyers opt to shoulder these costs but use this as a bargaining power to negotiate reduced purchase prices. As the homeowner, you should not be worried about this since these are minor issues and do not cost much. You could opt to cover the costs so that your asking price does not drop because of small issues.
There are rare cases where some negotiators make mistakes when evaluating some features. They may term some elements as obsolete whereas you know perfectly well that they are in good condition because perhaps you have had recent repairs done prior to the inspection. In this case, you can hire your own inspector. The inspector will help correct the mistake about the actual condition of the features that were previously wrongly reviewed. Alternatively, you could agree that the buyer covers the repair costs while you give them a discount. This will help you close the purchase deal if there are no other potential buyers waiting on the line.
- The Buyer Closes the Deal
If you have had repairs done to the house in the recent past prior to the home inspection, you are certain that the issues found will be minor. For this reason, the buyer may feel confident enough to carry the repair costs and close the purchase deal. Others will not even use the petty issues as a bargaining power to negotiate reduced purchase price. Others may want to take advantage of the arising issues and use them as part of their negotiating terms for lowered prices.
Others may request you, as the homeowner to cover the repair costs if at all the buyer is going to close the deal. In such a scenario, you can have the repairs done so that you get to enjoy the asking price. It is at this point that you might want to involve a real estate agent to advise you on the right move. On the other hand, it is best that you agree to this deal so that the deal is closed early and fast, before they think otherwise. This will benefit you most if there are no other buyers waiting on the line.
- The Buyer Backs Out of the Deal
Sometimes the buyer may feel that the small issues are a bother to them. They may not want to deal with issues of a new construction home or another different home, especially if there are other options available to choose from. At this point, you as the homeowner cannot do anything about the situation. You just let the buyer be and invite the next prospecting buyer waiting on the line. This is in a way the better option since it will save you the headache for many endless negotiations. It also allows you the chance to move to with the next buyer waiting, if they are offering a better deal.
Contrary to many people’s beliefs, a home inspection is not meant to discredit the home. It is not always that issues found in the house will lead to cancellation of the purchase deal. Home inspections are just meant to check for underlying issues so that they are fixed early enough, before they culminate into serious problems that would render the whole property unfit for human survival. It is also worth noting that not all buyers will have an issue with the little problems found. Some will be so much pleased with a house that has recently been repaired and will even overlook the issues and go ahead to close the purchase deal. As a homeowner, you should have an open mind about a home inspection.