You’ve listed your property for sale with your Realtor, Cathy Morris. You’ve filled out the paperwork, staged the home for photos, and do your best to keep everything clean between showings. Then you get the desired call… “We have an offer on your property!” YAY! You go over the paperwork with Cathy and she explains that the buyers are asking for time to do a home inspection. You think to yourself, “If I agree, are they going to ask me to fix a bunch of things?”
The buyer may request a laundry list of things to be done before closing in order for them to move forward (For the 10 most common inspection issues, click here. It’s important to remember, none of these requests are a commentary on you personally. Think of it as a wish list, and you can grant or deny any of the wishes you want. Just keep in mind, if you don’t agree to everything the seller requested, your revised list goes back to the buyer. They can either agree with your changes, or they can terminate the contract and not proceed with buying your property. Cathy will talk through the requests with you so that you understand what is being asked for so you can make an informed decision.
One more aspect of home inspections that is often forgotten…some of the things the home inspector notes (and the buyer may then ask for), are relevant to the home appraisal as well. VA and FHA loans, which are commonly used, want the purchased home to be in “turn-key” condition. Other loans might be a little looser, but all have standards on what condition the home must be in. So for some things the inspector asks for, it might be easier to fix at this earlier stage in the game rather than waiting until the appraiser asks for it…which may delay the funding of the loan and ultimately affect your closing date.