Smart Home Buying

By mike nurre on November 11, 2009

Okay, you have decided to sell your home in a soft market.  You have selected a real estate agent to list and market the house.  Your agent has held open house events and has showed the house several times.  Maybe you have even lowered the original asking price in order to get your house sold.  Finally, after months of no offers, you receive an offer for your asking price, subject to the Home Inspection.

A few days after the buyers Home Inspection, your agent is told that there are deficiencies that showed up in the Inspection Report and that the buyer will not go through with the sale unless the items are repaired or replaced.  You are faced with losing your buyer, after months of hard work to get them, or with spending the money to have repairs made with little time to do them. 

To take the position that not knowing what condition your house is in and leaving the discovery solely in the buyer’s hands will inevitably lead to a lost sale or money out of your pocket.  It is much more prudent to know how the buyer’s Home Inspector will look at your home by having your own pre-sale Home Inspection done by a competent professional.  This puts you in the driver’s seat.  You have the ability to investigate any deficiencies and have them repaired by a contractor of your choice.  If you decide not to make the required repairs, you will at least have the knowledge of what the buyer’s Home Inspection will show and be prepared to negotiate the offer to purchase from a position of knowledge.

If you are serious about selling your home for the best possible price in a soft market, the more knowledge you have, the better you will be able to work with your agent to achieve the desired outcome.  This is not the time to be “penny wise pound foolish”.  The stakes are too high!  Take a pro-active role and an attitude of no surprises.  Consider having your home inspected by a professional Home Inspector prior to listing it for sale.