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Prudent
purchasers will have your property thoroughly inspected before they
buy it. Expect inspectors to poke into everything -- your house's
roof, chimney, gutters, plumbing, electrical wiring, heating and
cooling systems, insulation, smoke detectors, all the permanent
appliances and fixtures in your kitchen and bathrooms, and the foundation.
They'll also check for health, safety, and environmental hazards.
Exploring the advantages of inspecting
before marketing
The
best defense is a good offense. Beat buyers to the punch -- get
your inspections before they get theirs. Discover everything wrong
with your house before putting it on the market. Defusing a crisis
begins by discovering that a problem exists. Consider these four
reasons to have your property thoroughly inspected before putting
it on the market:
- Damage
control: Suppose that your house needs a new foundation. The
problem is there whether you know about it or not. Why wait passively
for an ultimatum to fix the foundation at a cost established by
the buyer's inspection or kiss the deal good-bye? If you discover
the problem before marketing the house, you can disclose it to
prospective buyers with a repair estimate. Your negotiating position
is much stronger if you know about problems in advance -- and
accurately know the cost to correct them. Some buyers won't want
to tour your house if they know that it needs a great deal of
repair work. Forget them. Concentrate on buyers who are willing
to do corrective work after the closing if your price and terms
are fair.
- Financial
planning: It's very important to have a realistic estimate of
your present house's net proceeds of sale before committing to
buy a new home. If your house needs major repairs, you'll pay
for them one way or another -- either by doing the repairs yourself,
by reducing your asking price to reflect the cost of repairs,
or by giving buyers a credit to do the work. Latent defects --
flaws hidden out of sight behind walls or concealed in inaccessible
areas, such as under your house or up in the attic where you can't
see them -- are time bombs. A good premarketing inspection can
reveal all these problems.
- Fine tuning:
Professional property inspectors can help you spot minor defects,
such as dirty filters in the heating system; ventilation problems
in the basement, garage, or crawl space; blocked gutters; loose
doorknobs; stuck windows; a missing chimney hood or spark arrester,
and so on. Eliminating small maintenance problems like these gives
prospective buyers who tour the property a favorable -- and correct
-- impression that your house is extremely well-maintained.
- Peace of
mind: The inspector alerts you to health and safety precautions
you should take. Installing smoke detectors, grounding electrical
outlets, and keeping flammable products away from furnaces, heaters,
and fireplaces, for example, make your house safer for the next
owner and safer for you as long as you continue living in it.
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