Real Estate Advice
No Surprises: Surviving the Home Inspection
Dear Pat,
Our house sold fairly soon after we put it on the market, but the
buyer's home inspection wrecked the deal. After three hours the
inspector had assembled a huge list of concerns and the buyers walked
away. We bought this old house without an inspection, and maybe it
could be in better shape, but we've been comfortable here for 15 years
without any problems. Next time, how do we avoid getting . . .
--Burned
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Dear Burned,
You have my sympathies. Nothing infuriates me more than being at the
mercy of an over-zealous inspector who lacks the ability to put an
older home's flaws in perspective for the buyer. Unfortunately, when
the paid "expert" states an opinion, it's all too easy for a buyer to
accept it as gospel, even if that opinion is based on limited
real-world experience. But I don't mean to condemn the breed--most
inspectors I've met are pretty savvy about the issues we face with our
older housing stock, and know how to inform buyers without scaring
them.
Let's look at ways you can sidestep the pain next time, Burned. First,
find out what's wrong with your house. Ask the selling agent for a
copy of the deal-killing inspection report. Or you may want to get
your own inspection by a reputable professional. (Be aware that a
Minneapolis Truth-in-Sale-of Housing report is not complete enough to
give you the information you need.) Some sellers get home inspections
prior to going on the market, and have the full inspection report
available to any prospective buyer--although buyers might want their
own inspection anyway. |
Now you have your work-list,
and, we hope, some good advice from your inspector
about ways to address the problems he/she has
found. Use your Realtor to help set priorities:
spend what you can affort to fix the most
important items, adjust your expectations of
eventual sale proceeds for the rest. Remember,
there is no such thing as a fatal house flaw--a
big problem might scare away some buyers, but
others will take on the challenge if the price or
seller concessions make it possible. The key for
you, Burned, is to know the potential stumbling
blocks before you sell. No surprises. Good luck!
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Pat
Rosaves is a full-time real estate
professional living in the Seward -
Longfellow area. She has more than 29
years experience in helping people with
their real estate needs. Questions may be
sent to her at River Realty, 2543 38th
Avenue South, Mpls, MN 55406. Or call her
at 612-724-1314 or email her at Pat@RiverRealty.net |
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