here was a time not too major repairs recommended by the
long ago when buyers rarely inspector are corrected (usually
requested one. Just five by the seller) prior to closing.
years ago the Chicago Many sellers will lower the
metropolitan area had only selling price instead of fixing
200-300 home inspectors, while the home. Sound's nice and easy
today the figure is 3,000 and right?
growing. The combination of
ever-increasing consumer Sometimes this is where the
awareness and soaring real estate problems begin and can be tough
prices, has made today's home to resolve.
buyer now more than ever, proceed
with caution before committing to This is how it works. The home
the purchase of their dream home. inspector prepares a written
It is estimated that 60% of all report for their client (buyer)
real estate transactions involve that discloses maintenance
a home inspection as part of the related issues and any necessary
offer to purchase agreement. repairs deemed necessary based on
Although some home sellers are the knowledge and experience of
now beginning to hire an the inspector. Anything from
inspector and fix the property broken door knobs to hazardous
before it goes on the market, conditions that need immediate
this is still rare. It is almost attention like gas leaks,
always the buyer that hires the detached exhaust vents and other
home inspector. The buyer makes a potential serious situations. If
written offer to purchase the there are expensive repairs
home with a clause that the needed, the attorney's
written offer is contingent upon representing the two parties may
a home inspection (usually within be able to iron out an agreement
three business days) and that all where the expensive repair costs
are divided equally and the buyer on the subject property. This of
bears responsibility for all course is in addition to the long
minor and maintenance related time mandatory home appraisal.
issues. This is just one of many
possible settlement scenarios. It Best advice for home sellers?
should also be noted that the
buyer sometimes just walks away Don't neglect maintenance issues!
from the deal and looks for Gutter missing from a downspout?
another home. As you can imagine, It may be no big deal now, but it
home sellers now are beginning to will be in a few years when the
refuse offers that have an foundation cracks from water
inspection clause in the damage. Tree branches scraping
agreement. This does not mean your roof? That may cut the life
sellers can do as they wish. By expectancy of the shingles in
law, home sellers must disclose half.
in writing to the buyer any known
property defects that they're Don't neglect old components! Is
aware of. Failure to disclose the hot water heater 20 years
known problems almost always old? Replace it. Have your
comes back to bite them in the furnace inspected twice a year.
future. Is it too old? Replace it. The
bottom line is you need to be
Home inspections are here to pro-active. It's your home so
stay. take care of it. Then someday
when the home inspector knocks on
Many real estate experts agree the door you can smile and let
that in the very near future all him in.
lenders will require a home
inspection before lending money
About the Author:
Edward McCarthy is a residential real estate marketing consultant, licensed home inspector, and owner of http://SellByOwnerListings.com, a value based sell your own home advertising service.
Read more articles by:
Edward McCarthy
Article Source: www.iSnare.com 
