Sellers—Be Smart and Protect your Equity!!

By
Real Estate Agent with Murney Associates

Local home selling procedures can have at least one major flaw.  The buyers have a right to a home inspection AFTER the price and terms are agreed upon. An addendum is forwarded to you, the seller, to correct any major structural issues discovered during the home inspection process.  If these repairs are not made, often the buyer works to be released from the contract.  The repair costs represent money you did not figure into the estimated seller proceeds your agent calculated for you during the negotiation process.  Regardless if it is a couple of hundred dollars or several thousand dollars, it is a blind sided issue that must be dealt with.  Generally those repairs are to be completed prior to closing which can be highly stressful to find the skilled workers that can fit into your timeframe.   Believe me I have been through this many times.

Now the same holds true for your buyers.  Defects often make them uncomfortable with their choice to purchase your home.  It is as if all the valid reasons for wanting to purchase your home no longer exist.  All they now see is the imperfections.  The home now takes on a perception of being flawed and unappealing.  Your buyer begins to think of ways to get out of the contract.  Now the emotions have taken over and the entire process can be headed for a bitter end.  The deal can be lost, valuable marketing time wasted and you, the seller still will need to make those repairs!

So think ahead, spend the couple of hundred dollars for an inspection. To protect your equity and having some peace of mind is a huge reward

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