Avoid having the sale of your home fall through because of things that are well in your control.
In most standard contracts, it is specified that a Buyer has the right to inspect the property for damage or malfunction of appliances, plumbing, electric system, A/C unit, termites, roof condition and pretty much anything they deem appropriate within a certain amount of days from the date both parties sign a contract. Should they find anything that is not functional, they have the right to cancel the contract with no penalty.
To avoid having a buyer conduct an inspection and find things that may surprise you, it may be a good idea to consider the following 5 points:
1. Have a "pre-inspection". Prior to putting your home on the market, call a home inspector and have them provide you with a report including all necessary repairs.
2. Put yourself in a potential buyer's shoes and think which ones of those needed repairs, would scare you the most. Consider making some if not all of the repairs suggested by the inspector before buyers become concerned and cancel a contract. The items that usually scare buyers the most are those regarding the roof, termite infestation, plumbing and electric systems and A/C units.
3. If you decide not to repair some of the items listed on the inspector's report, then get estimates from a reliable repairperson on items that will need to be repaired or replaced. In this way, buyers will have a better sense of how much these needed repairs will affect their costs. You may also want to consider getting estimates on cosmetic repairs or replacements not included in the inspector's report, such as worn carpeting.
4. Gather together all the warranties and guarantees you may have for the appliances, termite treatments, roof repairs and other items that will remain with the house.
5. Fill out a disclosure form provided by your sales associate. Take the time to be sure that you don't forget problems, however minor, that might create liability for you after the sale.
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