When selling your property, you will need to have it inspected. You may be shocked at the long list of items that are included in the inspection report. While not everything needs to be fixed, too many issues and your buyer may run for the hills. If you know the most common issues found in an inspection, you can check them out ahead of time and have them fixed so your property looks good to the buyer.
The most common problem in home inspections is damage due to water. It may be from a leaking roof which has caused the ceiling tiles to warp or stains on the ceiling. The water may be from poor runoff, which has pooled in your basement or around your foundation. Leaking pipes could be another cause of the water damage.
Even if you don’t see water in the home, mold and mildew or rotted wood is the evidence of past problems. Mold is also expensive to treat if it’s widespread.
Since making these repairs can be quite costly if the damage is extensive, most buyers will either require you to fix water damage or get out of the contract completely.
Electrical issues are quite common in older homes. Many times, the house wasn’t wired properly or used outdated methods. In many cases, it doesn’t have enough power to handle all the new technology of today.
The home probably passed the safety inspection when it was built, but codes change often. What was satisfactory in the 1960s or 1970s may not be considered safe today. It’s often up to the owner to update the electric in the home when they sell because lenders won’t approve a property for a mortgage if it fails in this area since it becomes a fire hazard.
Poor Quality Work
Another common issue is work that’s been done, but it’s not up to code. Perhaps it was a DIY project or the former owner hired a handyman when a certified technician was required by code. Screws may not hold in place or the wrong size boards or cables were used.
In these situations, you may have to hire a professional to redo the work so it can pass inspection. It can end up being even more costly than the first time because they must remove the old work.
Many of these problems will cause buyers to cancel out of the contract or lenders to deny the loan. It can be costly for you as the seller to make the needed changes to sell the property. Cash buyers don’t have all the constraints as someone who must get a mortgage to buy. Often, cash buyers won’t even ask for an inspection, and accept the property as-is. If you’re in this situation, contact us today to find out how we can help.