Accepting an offer for the home you’re selling doesn’t conclude the entire transaction just yet – it simply ushers in the beginning of the next set of steps in the home-selling process: conducting the home inspection.
A process initiated by the buyer, the home inspection gives them a more detailed idea of the status of the property they’re on the verge of purchasing. The inspector’s evaluation states every flaw they find in the house, including those initially not seen during the home viewing phase. At this point, the buyer can either request for the seller to make the necessary repairs prior to closing the deal or cancel the entire transaction if the repairs needed would be too costly to handle.
The seller also has options depending on the home inspector’s findings. They could either negotiate for the extent of repairs needed with the buyer or decide to sell the property as-is, but at a lower price.
In most cases, sellers usually accommodate these repairs, as long as the requests are reasonable.
Here are the common repairs buyers would request after a home inspection.
- ROOFING DAMAGE
Roofing issues such as broken shingles, leakage, or clogged gutters are reasonable repair requests. Left unchecked, these problems can lead to additional home damage and high repair costs in the future. Fixing the roof before closing the deal saves the buyer from these stratospheric repair costs and gives them peace of mind.
- PROBLEMS WITH HEATING AND COOLING SYSTEMS
More than the obvious issue of indoor comfort especially during times when temperatures are extreme, broken HVAC systems could become a major safety concern and pose fire hazards if not fixed or replaced promptly.
- ELECTRICAL AND FIRE HAZARDS
Of the many disasters that could occur at home, fire brings the most damage. Studies also show that some of the most devastating fire-related catastrophes are the ones caused by faulty electrical wiring. That said, issues in a home’s electrical systems and other fire-causing hazards should be a major cause of concern. Things like sparking outlets, live wires, and gas leaks should be checked and repaired as soon as the damage is discovered.
- PLUMBING ISSUES
A leaky pipe or a constantly dripping faucet may look like a minor inconvenience but these could lead to bigger problems such as mold or mildew on constantly wet surfaces, flooding, or high water bills. This is why buyers often prioritize plumbing issues in their requests.
- STRUCTURAL ISSUES
Structural defects, building code violations, or safety issues related to the home’s construction will not sit well with most buyers as these translate to never-ending repairs and potential harm. If these are identified by an inspector, buyers may think twice before proceeding with the rest of the home’s sale.
WHO PAYS FOR REPAIRS?
Different factors will determine who pays for home repairs after inspection. The seller is not required to pay for the repairs but it’s in their best interest to do so because it increases the chances of securing the sale. As mentioned earlier, the seller can opt to pay for the repairs or sell the house as-is and negotiate at a lower sales price.
Crucial repairs relating to the home’s structure and systems are usually covered by the seller as these repairs are considered essential for the home to function properly. Other less urgent repairs may fall on the buyer.
Some states have specific, non-negotiable laws when it comes to home repairs so it’s important to consult with a real estate agent with years of experience working in the seller’s area. The knowledge they pick up from previous transactions will be valuable in determining the best course to take with regard to repairs.
In Palm Beach County, those with homes for sale here will do well to work with a real estate agent who’s also from the area. This gives sellers confidence, knowing that they are represented by someone who knows the county’s real estate regulations and market trends.
If you have real estate in the upscale community of The Club at Ibis that you’d like to put up for sale, know that you’ll be in good hands when you take your transaction to Mr. Ibis himself, Eric Telchin, and the rest of The Telchin Group LLC. This team of passionate and client-focused Realtors will go over and beyond to see to your home-selling requirements and make the entire experience seamless and stress-free. Reach out to them today! Call them at 561.301.0249 or send an email here.