Here are few common problems that general home inspections bring to light.
1. Plumbing:
• Leaking around exposed pipes, particularly with washing machines.
• Outdated pipes. It’s common to find old Polyethylene pipes, which your inspector will recommend replacing.
2. Electrical:• Ungrounded outlets. You can recognize these by their two-slot configuration versus the three-slot configuration of a grounded outlet. Most inspectors will recommend that you upgrade to grounded outlets.
• Improperly wired breaker boxes. Common hazards include two circuits on a single-pole breaker, oversize breakers, double-pole breakers that supply two single circuits, and wires that cross over the panel’s center.
3. Heating:
• Leaks in piping or heating unit; air ducts that need cleaning.
• Not enough insulation. Insulation requirements vary by location, but an improperly insulated home will always lead to high energy bills.
4. Drainage:
• A wet basement is a problem because it indicates that water isn’t properly draining away from the home.
• Mold in the air. When water isn’t draining properly, it can result in mold in the air. Mold can also be a byproduct of dry rot.
5. Roof:
• Torn and cracked shingles, or flashing that’s not properly installed. Each of these can cause roof leakage.
6. Walls:
7. Dry rot:
• This occurs when fungus grows in your home’s wood due to high condensation. The affected wood will have to be replaced.
• Another main concern is figuring out why the condensation is occurring in the first place.
Home Inspection Myth: You don’t need a home inspection for a newly constructed home. Not so. Property defects come up on new construction all the time. Just because the house is new doesn’t mean it was built properly.
Home Inspection Myth: You don’t need a home inspection if you’re buying a home warranty. Home warranties rarely cover everything. You’ll want to know of any potential problems before your closing so that you the seller can take care of them.
In your excitement to buy a home, it’s easy to miss a small crack in the foundation, some leaky pipes under the house, or a roof that needs to be replaced.
The sellers worked hard to make the home look as desirable as possible, but looks don’t tell the whole story. That’s where your home inspection comes in.
What about inspections for sellers?
For sellers, a home inspection is also a good idea prior to listing the home for sale. An inspection can help you turn up issues ahead of time so there will be no surprises when serious buyers start inquiring. Knowing in advance means you’ll be able to consider all your options – either making repairs before listing or pricing your home to account for anything you’re not going to fix.
For more information about inspections for home sellers, see the Tips on Selling a House.
What does a home inspection include?
A general home inspection will evaluate the house and adjoining structures from top to bottom, inside and out, including but not limited to:
Outside
Roof, porches, driveways, garage, drainage, retaining walls, grading, and plants or vegetation that may impact the home’s condition
Inside
Electrical and plumbing systems; foundation; heating, ventilation and air conditioning systems; water heater, septic system, electrical system, windows, doors, floors, ceilings and walls
What a home inspection doesn’t cover
The home inspector can’t make any alterations in the course of inspecting a home – so there’s no digging up the ground, lifting carpets, knocking out walls, etc.
Also consider that a home comprises tens of thousands of parts, pieces, nooks and crannies. An inspector will look at a representative sampling, but there’s simply no way to check every single element.
Examples of specialized inspections:
• Sewer inspection
• Chimney inspection
• Mold inspection
• Lead inspection
• Asbestos inspection
• Pest inspection
• Inspection of a special feature such as swimming pool or hot tub
Easily fixed pipes or a few outdated electrical outlets are no reason to back out of a deal. However, other issues that come up during a home inspection should give you pause to think about whether or not to proceed.
Here are some red flags that warrant closer attention.
1. Water intrusion and grading problems Water in the basement, condensation on the walls and mold in the air indicate moisture and drainage problems that could cost a lot of money to fix. These issues often suggest improper grading.
2. Structural damage Cracks in walls, ill-fitting windows and doors, and visibly shifted bricks on the exterior are all signs of structural damage. Your cost to fix these types of problems? Anywhere from $20,000 to $200,000.
3. Roof repairs Old shingles, water stains on the ceiling or rotting rafters are all signs that the roof may need to be replaced. This is another extremely expensive undertaking, so pay close attention during the roof inspection.
4. Window replacement Windows that don’t work, fit the frame poorly or show condensation between the panes may need to be replaced. Depending on the number of windows, this could easily run between $5,000 and $8,000.
5. Insect infestation A general inspection should show you whether the home has a pest problem, which may prompt a need for a more detailed report from a specialist. This is a serious issue because some pests can cause structural damage.
Read moreA home inspection isn’t just for buyers. It’s also something sellers should seriously consider before putting their house on the market.
Why? Quite simply, you don’t know what you don’t know. Imagine getting a great offer on your home only to discover, during the middle of the process, that it needs considerable repairs.
This is the kind of surprise that can lead to buyers pulling out, costing you time and money on a number of fronts. It’s better to know problems from the start, and either deal with them before listing or price the home accordingly.
A seller’s inspection also provides a reference point from which to compare the findings of the buyer’s inspector. In particular, having a different professional opinion can work to your advantage in price negotiations.
Your home inspection is a sales tool
Having your home inspected before listing can also be an effective sales tool. You can confidently say that your home has been pre-inspected and is in tip-top shape, making that much more attractive to buyers.
Don’t wait too long for a home inspection. You want plenty of notice for repairs before you start marketing your home for sale.
Attending your home inspection
Attend your home inspection to see first-hand what the inspector notes, and to learn some important details about the house that may assist you in selling.
When attending your inspection:
Wear casual clothes and comfortable shoes. You may find yourself crawling under and behind things to see what the inspector is pointing out.
Plan for the inspection to take two or three hours.
Feel free to ask questions, but give the inspector time and space to work.
Home Inspection Checklist for Sellers:
Remove clutter that may get in the way of key inspection areas, such as water heater, furnace and main valves.
Clean up! A clean house shows you care and that you’ve maintained the property properly.
Provide full access to attic, basement, crawl space and garage. Leave the keys if they’re needed to enter these areas.
Provide repair documents. If you’ve done any remodeling or replaced the roof, furnace or electrical system, provide the paperwork. Also, display any paperwork about new appliances that may be included in the sale.
Leave utilities connected if your house is vacant.
Potential buyers get an impression of your home , either positive or negative, within 30 seconds of walking through the door. Having them see your home in tip-top selling shape is an absolute must.
There are countless ways to put the freshest face on your home, many of them costing little more than a bit of your time. Here are a few pointers for the most significant impact:
• Clear any clutter and keep lawn decorations to a minimum.
• Mow your lawn and trim shrubs.
• Add bushes and/or colorful flowers.
• Sweep sidewalks, porch and driveway.
• Remove or update any dated or personalized fixtures.
• Put all toys away.
• Fix damaged gutters, shutters, siding or roof shingles.
• Add a tasteful welcome mat to the front door.
• Clean all windows inside and out.
Leave your house while it’s being shown to potential buyers. Your presence can make them feel anxious and awkward.
Write a letter about your neighborhood that your real estate agent can share with potential buyers. Include information on local events, neighborhood amenities and other factors that define the community.
Clean everything! Check for cobwebs on ceilings, dust on baseboards – everything.
De-clutter. Then De-clutter again. Rent a storage locker if you need to. This is very important for increasing your home’s appeal.
• Add a fresh coat of paint to the walls.
• Remove family photos and excessive wall decorations.
• Remove personal items, such as DVD collections and trophies.
• Replace worn carpets, and shampoo carpets that are dirty but still in good shape.
• Polish wood floors.
• Add fresh flowers or plants, but don’t overdo it.
• Maximize your home’s natural light by opening blinds and shades.
• Do a smell check and address any odors.
• Pet owners: Take Fido or Fluffy with you while your home is being shown.
Your agent can provide additional advice on prepping your home, and also give you insights into the preferences of local buyers.
Smart, competitive pricing is essential. When you price too high, your home stays on the market longer, prolonging the process and increasing your expenses along the way.
Home Seller Mistake No. 1: Pricing Too High
“I can always lower the price later if I don’t get any offers.”
That statement costs home sellers millions of dollars every year.
Yes, you can always lower your asking price, but that’s not a good strategy. Time and time again, experience shows that sellers who list competitively from the start get a better price than sellers who list high and then go lower and lower.
Why? Psychology.
When you price too high, here’s what buyers think:
“Wow, three price cuts in the last four months… There must be something wrong with that house.”
“With all the price cuts on this house, the sellers must be desperate. Let’s offer them far below what they’re asking and see if they bite.”
Sound Pricing Strategies
A far smarter approach is to find a knowledgeable agent who understands the local market and then work together on setting the right price. A good agent can help you avoid the overpricing trap.
An experienced agent will help set the right price for your home by considering the following:
Similar homes, via a Comparative Market Analysis (CMA): Your agent will provide a professional analysis that goes deep into stats about recent sales and current listings similar to your home in size, age, condition and features. Sales within the past six months are especially relevant.
General market conditions: Is it a seller’s market or a buyer’s market in your community? It’s important to note that what’s happening nationally may not reflect local conditions. Your agent can explain the difference and clear up any misconceptions you may have.
Experienced agents understand how to accurately price your home and make it stand out in the market. They also have access to a vast referral network, enabling them to connect with potential buyers across town or around the world.
Here are a few avenues Power Marketing Real Estate agents may use to market your home, both online and off.
Multiple photos: Studies show that buyers are more likely to visit a home that includes multiple photos of the listing. Well-lit, wide-angled photos highlight your home’s best features and important rooms.
Designated website: A customized website for your home is an effective online marketing strategy. It can showcase your home with photos, virtual tours or videos, and details about the property and surrounding neighborhood.
Virtual tours: Video tours can be posted with or without a designated property website. Giving buyers an inside look at your property online can get them interested enough to schedule a showing.
Home search websites: More than 75 percent of buyers start their home search online. It’s important that your listing receives full exposure in the MLS and in search engine results. Posting your listing on Craigslist, Facebook, newspaper websites and elsewhere can also be effective in reaching potential buyers.
Read more
It’s vital to understand how to choose a Realtor. Like selecting any service professional , from an accountant to your family doctor, it’s important to do your homework before deciding on a real estate agent. Your home purchase or sale likely represents one of the most significant financial transactions of your life, and you definitely want to find the right person for you.
Why the Right Realtor Matters :
Upon beginning your search, you’ll find that many agents specialize in areas beyond general residential properties. You’ll find specialists in luxury homes, distressed properties, international transactions and more. Before you dive in, it’s important to determine whether you’re dealing with a specific property type and/or a certain market segment – high-end homes, retirement communities, etc. This will help you from the start.
It’s equally important to find an agent who can get the job done. Although your uncle’s friend may dabble in real estate, ask yourself if he’s really the person most qualified to help you buy or sell your home. Personal referrals are great, but only if they’re based on relevant criteria.
Abilities matter. And production matters. You want someone with experience, education and a proven track record of successful closings. On all counts, Power Marketing Real Estate is a solid place to start your search.
Read more
Plain and simple, owning a home can improve your quality of life, provide stability and give you a sense of control you just can’t get from renting. You have a place to live when you rent, but buying is something much deeper – and better.
A skilled, qualified real estate agent brings tremendous value to the process. You’re relying on this agent on many different levels, so be careful to select someone with the right combination of education, experience, performance and local insight. Look for a proven expert who can cast a wide marketing net and attract as many potential buyers as possible.
Be sure to let your agent know the particulars of your situation. Perhaps you need to sell within a certain time frame, are relocating out of state, or are facing foreclosure. Keeping your agent informed helps set the path for the best way to proceed, ensures that your needs are met, and ultimately contributes to a successful transaction.
Tips on Choosing and Working with a Realtor offers additional details on finding an agent to suit your needs.
Read more
Selling a house can be stressful. Making the decision, preparing the house for sale, keeping it clean, waiting for a buyer, dealing with offers, and advancing to the closing table – all of these steps can involve discomfort. This is a huge financial transaction with many emotional aspects. But you can get it done , and it may even be easier than you anticipate.
One thing to keep in mind is that you’re not alone. An experienced, professional real estate agent can guide you through the process, help resolve any issues that come up, and ensure that your home sells for the optimal price in a timely manner.
Here are a few things to keep in mind when putting your home on the market and learning how to sell your house:
- THE RIGHT LISTING AGENT
- HOW AN AGENT MARKETS YOUR HOME
- PRICING YOUR HOME TO SELL
- PREPARING YOUR HOUSE FOR SALE
- CONSIDER A HOME INSPECTION WHEN SELLING
