You put the work in to getting your home in “Showing Shape.” You’ve had the showings and now you are, UNDER CONTRACT!! YA-HOO!!
So our next step is, INSPECTIONS. The Buyer has 10 days from the date of the signed contract to have their Inspections done and ask for any repairs to be made. So what should you expect from an Inspection? An average inspection lasts between 2-4 hours depending on the size of your property. The inspector will inspect everything from the crawl space to the roof. They will do a full inspection on the HVAC (heating & air units), electrical system and plumbing. In the crawl space they will look for broken girders, framing issues and termite (damage.) On the roof they will look for hail damage, granule loss and missing/damages shingles. This is just the short list. In their REPAIR ADDENDUM, what they can ask to be repaired are items called, LATENT MATERIAL DEFECTS. LATENT MATERIAL DEFECTS are defects that a normal person couldn’t see by walking through your home. Examples are: plumbing leaks in the crawl space, roof damage and termites. You and your Realtor will go through the REPAIR ADDENDUM with you and make sure each item qualifies as a LATENT MATERIAL DEFECT and negotiate items out appropriately. Your Realtor can also help you find qualified contractors to help you get the items done correctly and in a timely manner. This is always a nervous time for both Sellers and Buyers but don’t panic everything can be fixed.
UNTIL NEXT TIME…