How to Prepare and Reduce the Need for Home Inspection Negotiation
Are you prepared?
Make this part of the real estate transaction a breeze with a little bit of preparation.
Here are three tips to get you through the home inspection quickly and easily.
The best defense is an offense! When it comes to selling your home, preparation is key.
If you want to make sure that your home inspection goes without a hitch, then have an inspection performed before you list it for sale.
This allows you to find out what needs to be repaired and what doesn't.
If the repairs are small, you can take care of those before putting your home on the market. Handling those repairs are often less costly than trying to negotiate a repair credit during the course of the sale.
Plus, knowing what a trained home inspector sees as a stumbling block to the sale of your house allows you time to correct those potential problems.
#2 Handle Those Small Repairs Yourself
Fixing small house repairs like fencing, cracked tiles, or sod replacement will save you time and money in the long run.
Either hire a contractor, or do it yourself, especially if the repair can be done in a week or less. Becoming proactive is a cost-saving measure that will most likely be less expensive than giving a credit on the selling price of your home.
Tip #3 Go for Closing Cost Credits or Price Reduction
If repairs are large and you don't want to spend the money to have them corrected, then push for a closing cost credit. Or, negotiate a price reduction for repairs related to the home inspection.
Going this route will keep the real estate process moving along, instead of slowing down the sale. And, the buyer can choose their own contractor, which will make them feel more empowered.
Bonus Tip: Listen to Your Realtor
Your real estate agent has probably had lots of experience with home inspections, so listen to their advice. If your agent feels a price reduction is the best way to go, trust that advice.
Or, if they feel that hiring a contractor and fixing the repairs yourself is viable, then go with that. Following their experienced advice will get you through home inspection negotiations more easily, and without losing a lot of time getting to the closing table.
But the bottom line in winning at the home inspection negotiating table is to be pro-active. Know what needs to be done to your house and take care of it. Or, offer a credit to be used by the buyer once the sale has been completed.
Lilly Title & Settlement is a full service title insurance and settlement company in Staunton, VA. Learn more about our services on our website: www.lillytitle.com or call us for more information. 540-414-8763.