What Do Sellers Need to Fix After a Home Inspection?
What Do Sellers Need to Fix After a Home Inspection?
If you are selling a home, you may be wondering what items you will need to fix after the buyer has conducted a home inspection. It is not uncommon for the home inspection to turn up a number of issues, many of the issues discovered are minor, informational, or cosmetic in nature. The focus of the repairs needed will depend on the specific issues found, the cost associated and the effect on the habitability of the home. Finally, the terms of the sale should be reviewed prior to determining if items need to be repaired.
Below, you will find what sellers typically consider for repair after a home inspection has been conducted on a property they are selling. It should be noted that a seller is not required to fix anything, the purchase price and sale of a home is a negotiation, however, not addressing repairs may cause the buyer to cancel the transaction.
Encouraged repairs
When the home inspection uncovers any health, safety, habitability issues or major defects, the seller is strongly encouraged to fix them before the sale can proceed. This may include things like structural concerns, electrical issues, roofing conditions or plumbing problems.
Negotiated repairs
When the home inspection documents items that are less serious in nature, the buyer may choose to negotiate with the seller to have them repaired or to receive a credit for the repair of the items so that they can have the items repaired by a professional of their choice. This could include things like cosmetic issues, such as inoperable appliances or exterior paint, or other minor repairs.
As-is sale
In some cases, the seller may decide to sell the property "as-is," which means that the buyer will be responsible for any and all repairs or updates to the property. This may be an option if the seller is unable or unwilling to make any repairs based on the current condition of the home.
It is important to consider the extent, complexity and cost of the repairs needed when attempting to determine what the seller will fix after a home inspection has been conducted.
As a seller, a pre-inspection (having a home inspection conducted prior to listing the property) is a great idea so that you can be knowledgeable about the true condition of the home, eliminate any surprises and repair items within your timeline. What sellers fix after a home inspection depends on what is discovered, what the buyer may request and what the transaction may need to be successful.