Home Inspections are one of the most important aspects to consider when selling a home. Often times, the inspection process is considered a "Buyer's Duty and Obligation" only. And this is where Seller's seem to forget the importance of preparing their home, not only for marketing purposes, but more importantly, to keep every dollar of the offer price.
How do Sellers "give away" their money once an offer has been accepted? The simple and most accurate answer is that the Seller did not prepare for the most crucial part of the sales process, the negotiation of the buyer's inspection report. Realtors will negotiate on behalf of the customers to reach an agreed upon offer price. A price where the Buyer believes that the market will value the home. Of course, there is the appraisal. However, if the buyer and seller trust the advice of the Realtors, the offer price should mirror the valuation of the Appraiser. Both Realtors and Appraisers attempt to use the same guidelines.
So let's talk about the inspection. Buyer's do have a duty and obligation to conduct a home inspection to verify the condition of the home. The inspection will reveal the flaws of the home. Some of those flaws are known and some are unknown. The buyer's will then attempt to negotiate the remediation of the flaws by either requiring the Seller to make repairs or credit the buyer for the cost of repairs at the time of closing. Either way, the cost the buyer will present is normally greater than the cost of repair had the seller remedied the repair prior to going to market.
Here are the 10 Most Common Flaws Found During a Home Inspection: