When and why should you consider having inspections done prior to listing your home on the market? In North Carolina, the responsibility is on the buyer to pay for inspections. This is a Buyer Beware state. But there is a time when it is advantageous for a seller to do them prior to going active. We don’t always recommend this, but here are a few examples as to why having inspections done prior to listing is helpful. It can end up saving you time and money! Hi, I’m Danielle Abraham with the RE/MAX NC Coastal Team. As a seller, you want to be aware of the condition of your property and we don’t want any unexpected problems that could end up costing you a lot of money. We’ve seen hidden water damage cost well over $20,000. Imagine, getting a bill for $20,000 and the only way the buyer will buy the home is if it’s fixed or paid for. But you are already under contract for another home and you need that $20,000 to close on that home. This would create a huge problem. What about this, let’s say you found out that the home you’re selling needed a new roof or air conditioning to be replaced. You could do a few things, sell the home “As Is’ and disclose the issues, not sell at all, or take on the repairs and replace it. The idea behind getting inspections done prior is so that there are no unexpected surprises that could financially hurt you later. We want the seller to be aware of any additional expenses that could possibly arise from the sale of their home. The inspections we recommend are the standard, customary inspections that a buyer would do. We recommend a Home Inspection, a Septic Inspection, and a Termite Inspection if the home does not currently have a termite bond. In regards to the Home Inspection and Termite, It’s helpful but not mandatory to make sure all the health and safety items are fixed, as well as issues such as dry rot, leaks, and of course termites as these are very common requests that buyers have. It helps the seller because they have much more assurance that they will actually “net” what it is that they thought when going into escrow. It gives them peace of mind that the buyer won’t ask for any unreasonable or outlandish repairs. It also cuts down on inspection times. Having inspections done prior also protects the seller if they have a replacement property to purchase and need every penny out of their sale to secure and close on their new purchase. Also, the buyer is more confident that they are buying a sound home that is in move-in-ready condition. If there is bank financing on the property, some loan programs require health and safety, as well as, termite work to be completed prior to closing. There is peace of mind knowing that those items are already completed, so there is further assurance that the loan will go through. To wrap it up, the seller, buyer, and lender will have more confidence throughout the entire transaction that the home will actually close. This will reduce your stress and potentially save you money!
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