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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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