Home Inspection - Reasons Why It Is So Crucial To The Home Owner
Posted on January 29, 2008 - Filed Under Wyoming Home Builders, Homes For Sale, Home Builders, Wyoming Real Estate, Real Estate
If you are the agent of the “For Sale By Owner” home, you must be aware that home inspections are a requirement of most contracts. Your typical sales contract will offer the buyer a chance to receive several inspections that can be conducted on both the home and the property. If, for some reason, the home inspection results in some unexpected information, you could possibly lose the sale. Every seller should avoid this bad situation.
The inspections you will need include:
General Inspection: This home inspection is essential to proving all major appliances, heating, plumbing, air-conditioning, and electrical systems are in good working condition. The seller is required to then keep all of it in working condition until the sale is closed. Any needed repairs will also be the responsibility of the “For Sale by Owner” seller.
Roof Inspection: There’s a chance that the “For Sale by Owner” seller could be liable to make repairs for any damage to the roof, including leaks, for up to three percent of the sale’s price. This liability is particularly valid in areas with heavy snow.
Termites and other Wood Destroying Organisms: Depending on which state you are in the liable party will differ in this event. It is required by some states that the seller pay for up to three percent of the purchase price for the repairs. The buyer, however, will be responsible for the inspection expenses.
Other states give the responsibility to the “For Sale By Owner” seller to provide a certificate guaranteeing that the home is clean and termite free to the buyer. This letter or certificate must be obtained through a licensed pest control company. Generally speaking, these inspections will cost you less than one hundred dollars.
One has a limited amount of time to have these home inspections concluded for most sales contracts. In the event that time should run out, the buyer would lose the right to have any of these inspections. If the inspections are concluded within the given amount of time, the seller will be sent the results.
When you are the “For Sale By Owner” seller, your best option is to try to avoid any unexpected surprises that can happen with these home inspections. As a precautionary step, you can hire an inspector to get a written report with details on the condition of your home. Generally speaking, you will probably save money on any repairs that an inspector you have hired points out instead of an inspector the buyer has hired. You can choose to use the Home Inspector Locator, which is a great service that specializes in helping individuals find an inspector in their area. If you have chosen to hire your own inspector, it will probably cost you around two hundred dollars. That money is simply an investment that will ultimately save you a lot more money.
If you want to simply avoid the home inspection all together, you just have to sell the home “as is”, unfortunately, by doing this you will have to sell your house for less. As the agent of the “For Sale By Owner” home, it is crucial that you are positive this stipulation of the sale of the house “as is”, is written somewhere in the sales contract.
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