An important stage of buying or selling a home is the inspection process. A professional with a home inspection license examines the structure and reports on any potential issues. This process not only enables the buyer to know what they are getting into, but it also protects the seller from any future liability.
The best possible outcome of a home inspection is no issues. No surprise that this is wonderful news because the home is in the best possible shape. Usually, when a potential buyer elects to commence the home inspection process, they already possess confirmed interest in moving forward with a purchase. The sale moves from being a possibility to a highly likely outcome.
While a long list of minor repairs might turn off a potential buyer, it is not a deal-breaker. Minor issues could include a leaky faucet or a failing window seal. It is standard for a potential buyer to request that the seller repair these issues prior to proceeding with a contract and it is then up to the seller. There are instances where it is in the best interest of the seller to accommodate these requests and have the minor repairs taken care of so that the sale can proceed.
A seller should always disclose any known issues. That said, it is possible problems exist that they are not aware of. Major issues that might negatively impact a sale include:
- Wiring Not up to Code
- Mold and/or Asbestos
- Foundation Problems
- Termites & Pests
- Full Roof Replacement
When these arise, do not stress. As with minor issues, the seller has the option of requesting repairs or walking away. Problems that a seller was not aware of can be addressed and that will help with the sale moving forward. Get more information about the home inspection process at KeyRealtySchool.com.