Get your house inspected before listing it for sale. (this is so important and missed by so many sellers)
Avoid problems from showing up during the option period when the buyer is having the house inspected. Reduce the stress of waiting and hoping that the buyers won’t find anything serious wrong and won’t hit you up for a price reduction, contributions to closing, threaten to cancel the contract, or all of the above.
You may think that your house is in perfect condition but a trained inspector will find enough issues to fill a 25 page report. These problems can mostly be avoided if you have a pre-listing inspection done. This inspection should be a full inspection and is a great stress reliever and confidence builder for the seller. A full inspection costs about $400 from most companies and is well worth the cost. You should also have the HVAC systems, plumbing systems, roof, and foundation inspected, by individual experts, to be sure that everything is in top notch condition.
Get repairs completed before listing your house or allowing showings.
You want to avoid the possibility of someone getting injured while visiting your house due to some unsafe condition like trip hazards, exposed nails, electrical wiring, wet floors, etc. Keep your home owner’s insurance up to date and make sure the you are covered for personal injury. Remember – You only have one opportunity to make a good first impression.
If the roof is more than 10 years old,
get a roofing company to inspect it and make any needed repairs. They will give you an estimate of the remaining life for the roof. Use a reputable company for this. Avoid “storm chasers” that try to get you to file an insurance claim or the ones that want money up front, before repairs are started.
Central Air Conditioners start to become a liability after about 12 years. Make sure that you have your units inspected by a HVAC specialist and be prepared to provide compensation to the buyer if your unit is old and in need of repair.
Water Heaters last about 8 to 12 years and should be inspected prior to the sale of your house.
If there are cracks in the walls,
Get the foundation inspected so you know if it is just settling or if the foundation is in need of repair. Don’t just use paint and plaster to cover up cracks in the walls. Prospective buyers will notice this and will want an explanation of how bad the problem really is.
Do a full disclosure (After you have completed and reviewed inspection report)
Disclose any issues or problems that you know about and that currently exist with the house. Check the Texas Property Code for more information. There are things that you are required to disclose and things that you should not disclose. You want to develop and maintain a sense of trust between you and the buyer. Hiding things will ruin that trust and may cause the buyer to opt out of the deal or reduce their offer because that don’t know what else is wrong that you failed to disclose. Get your disclosures completed before listing and have your REALTOR® attach them to the listing. If you do an inspection, and get an inspection report, make that available to the potential buyers also.
Work with your REALTOR® to determine what repairs, remodeling, and upgrades make sense to do.
Only do the things that will increase the selling price, give you a positive return on your cost, and get more showings for your house. Your upgrades should be consistent with neighboring properties. Don’t over do it. If everyone else has granite counter tops, and yours doesn’t, the selling price of your house will probably be affected. If your kitchen appliances are old and not in top condition, consider replacing them. I will work with you to determine if any upgrades that you are considering will increase the selling price of your house. Don’t waist your money and time doing the wrong thing.
Click here for Costs vs Value for Remodeling Estimates.
Many deals fall apart during the option period
Major defects being discovered during the buyer’s inspection can kill your deal! Option periods are very short, usually 7-10 days, so there is not much time to get things repaired. Buyers panic when they discover problems that you didn’t disclose. You may have to discount the price of your house or contribute money to the buyer’s closing costs to compensate for those defects in order to keep the purchase moving forward. There is a very real chance that the buyer will just terminate the contract and move on to one of the other properties that they are interested in. If this happens, you have to start over and re-list your property, after the repairs are made. The previously interested buyers have moved on and, hopefully, another buyer will come along and make an offer for your property. A pre-listing inspection shows the buyers that you are being honest and open with them and have taken precautions to insure that the property is in good condition prior to listing it for sale making it less likely that serious problems will turn up during the buyer’s inspection. Some agents and buyers actually plan on getting a price reduction during the option period. They expect to find problems and plan to ask for a price reduction or contributions from you to cover their closing costs. Be proactive and get things in great shape before showing so you can avoid this situation.