PASS YOUR HOME INSPECTION
Homebuyers Want to Know Your Home Inside and Out
Most home buyers are really interested in the condition of the house that they are considering making into their home. They want to know as much as possible about the place before they commit to buying it.
The most important reason that the buyer is interested in the inspection report is to ensure that there are no financial bombs waiting to go off as a result of defects in the house.
However, even without a hidden bomb discovery, a bad inspection report is not good for the seller. Buyers will use a poor inspection report as leverage against the seller to pay less for the property.
A poor inspection report will be costly in many ways: it might cost you a lot of money to make the repairs needed to keep the purchaser from walking away from the deal, or even worse, it could well cause the buyer to walk away, leaving you with a bunch of repairs to do.
As a seller, you don’t want surprises after you have made your deal. A bad inspection report is an unnecessary surprise that can be entirely avoided with a little preparation.
In most cases, you can make a reasonable pre-inspection yourself if you know what you’re looking for. Knowing what you’re looking for can help you prevent little problems from growing into costly and unmanageable ones.
If you can’t eliminate a problem area, being up front about it is a good thing. If it is a problem that the buyer’s inspector will find anyway, getting the information out early is always a better strategy.
To the extent possible, fix the problem areas before your house goes on the market. You will be able to advertise about the work that has been done and use it as a selling feature. Sellers will view the house more favourably and they will get the impression that the house has been well maintained.
This often results in higher offers and better sale prices.
On the other hand, leaving these problem areas undone creates a negative impression about the house in the purchaser's eye. He or she may be put off enough about the work to be done that they move on.
They may walk away from a house that they otherwise would have purchased, but they felt that the house "has been let go".
Pay Close Attention to These Areas to Pass Your Home Inspection
Defective Plumbing
Defective plumbing can manifest itself in two different ways: leaking, and clogging. A visual inspection can detect leaking, and an inspector will gauge water pressure by turning on all faucets in the highest bathroom and then flushing the toilet. If you hear excessive sounds of running water, it may indicate a sizing or capacity issue with the plumbing.
Outdated plumbing methods, such as using galvanized piping may cause insurance issues.
Damp or Wet Basement
Understanding what is causing the problem and what needs to be done to address the situation is important information to have.
An inspector will surely check the basement for dampness, so any problems in that area will be discovered.
It is far preferable to have already addressed them before putting the house on the market, but, if this is not possible, having the estimates of the required work for buyers to examine will be helpful.
Inadequate Wiring & Electrical
Most insurance companies are not issuing new coverage on homes that do not have 100 amp service.
No insurance = No mortgage = No purchase.
Inspectors also check that circuits are not overloaded and that outlets are correctly grounded. In older homes, it is a very good idea to have an electrician take care of these issues before the house gets listed.
Poor Heating & Cooling Systems
There is more emphasis being placed on the energy efficiency of furnaces and air conditioners. Inspectors examine the age and condition of the heating and cooling systems.
If your furnace is much beyond the minimum life expectancy of 15 years, you should consider replacing it if it is not working well.
Roofing Problems
One of the key inspection points is evidence of water infiltration, including the obvious place, under the roofing system. Inspectors are especially in tune to signs of water infiltration anywhere inside the house, such as stains on ceilings and walls.
Damp Attic Spaces
Aside from basement dampness, problems with ventilation, insulation and vapor barriers can cause water, moisture, mold and mildew to form in the attic. This can lead to premature wear of the roof, structure and building materials. Inspectors will note concern if they find any evidence of attic dampness.
Rotting Wood
This can occur in many places (door or window frames, trim, siding, decks and fences). The building inspector will sometimes probe the wood to see if this is present - especially when wood has been freshly painted.
Masonry Work
Re-bricking can be costly, but, left unattended, these repairs can cause problems with water and moisture penetration into the home which in turn could lead to a chimney being clogged by fallen bricks or even a chimney which falls onto the roof.
It can be costly to rebuild a chimney or to have it repainted.
Unsafe or Over-fused Electrical Circuit
A fire hazard is created when more amperage is drawn on the circuit than was intended. 15 amp circuits are the most common in a typical home, with larger service for large appliances such as stoves and dryers needing circuits that can handle the larger power requirements.
Adequate Security Features
More than a purchased security system, an inspector will look for the basic safety features that will protect your home such as proper locks on windows and patio doors, dead bolts on the doors, smoke and even carbon monoxide detectors in every bedroom and on every level. Even though pricing will vary, if these components are missing or defective, it will add to your costs.
Before purchasing or installing any type of safety equipment, you should check with your local experts.
Structural/Foundation Problems
An inspector will certainly investigate the underlying footing and foundation of your home as structural integrity is fundamental to your home. Structural issues are among the most serious that an inspector can find. All structural issues should be resolved before putting the house on the market.
Short Summary
If you have done your preparation work, there should be no surprises when the buyer's inspection is done. Having a clean inspection report or at least one that the buyer is comfortable with, goes a long way towards completing on your sale.
A little work early on will pay enormous dividends later. To learn more about preparing your home for sale, click HERE
