Twila E. Palmer's Blog
After you accept a homebuyer's offer on your residence, he or she likely will complete a home inspection. Then, the homebuyer may choose to move forward with the home purchase, rescind or modify his or her offer or ask the home seller to complete home improvements.
Ultimately, a home seller is likely to have many questions following a home inspection, including:
1. What did the homebuyer discover during the home inspection?
As a home seller, it is important to do everything possible to enhance your residence before you add it to the real estate market. By doing so, you can boost your chances of generating substantial interest in your house. Plus, when a homebuyer performs a home inspection, he or she is unlikely to find any problems that may slow down the home selling process.
An informed home seller may conduct a home appraisal prior to listing his or her house on the real estate market. This appraisal enables a home seller to identify potential trouble areas within a residence and explore ways to address such problems.
If you failed to perform a home appraisal, there is no need to worry. For home sellers, it is important to see a home inspection as a learning opportunity. And if a homebuyer identifies problems with your residence during a home inspection, you should try to work with him or her to resolve these issues.
2. Should I stand my ground after a home inspection?
Be realistic after a home inspection, and you'll be able to make the best decision about how to proceed.
For example, a home seller who goes above and beyond the call of duty may address major home problems prior to listing his or her house on the real estate market. This home seller will dedicate the necessary time and resources to correct home problems and ensure a homebuyer is able to purchase a top-notch residence.
But what happens if a homebuyer identifies problems during a home inspection, despite the fact that a home seller already tried to correct various home issues?
A home seller should consider the homebuyer's inspection report findings closely. If minor home repairs are needed, he or she may be able to fix these problems to move forward with a home sale. Or, if a homebuyer is making exorbitant demands, a home seller may feel comfortable allowing the homebuyer to walk away from a home sale.
3. How should I proceed after a home inspection?
A home inspection can be stressful for both a home seller and a homebuyer. After the home inspection is completed, both parties will be better equipped than ever before to make informed decisions.
If a homebuyer encounters many problems with a residence, he or she will let the home seller know about these issues. Then, a home seller can complete assorted home repairs, offer a discounted price on a home or refuse to perform the requested home maintenance.
Working with a real estate agent is ideal for a home seller, particularly when it comes to home inspections. A real estate agent will negotiate with a homebuyer on your behalf and ensure you streamline the home selling process.
Attending an open house is like going on a job interview. House sellers and their realtor may appear to be in total control of the process. But, that’s not the case. As a home buyer, you can put yourself in the driver’s seat by making a thorough review of the house. You can also ask home sellers or their realtor the following questions.
Answers to these open house questions could land you a great new homeowner deal
Several questions to ask realtors and home sellers can be asked as you walk through the house. It’s good to ask other questions after you have finished walking through the house and have a better idea of the house layout, features and amenities.
How many offers have you received on the house so far? Low interest in the house could be a sign that the house has problems or is located in a depressed neighborhood. It could also be a sign that the house just went up for sale or that you could get a good price for the house.
Why did you put your house on the market? Again, similar to a job interview, the answer to this question is revealing. Just as you’d want to know why someone left their job, find out why sellers want to part with their house.
Tell me how long your house has been on the market. Look to negotiate for a lower price if the house has been on the market for an extended period of time. This could prove to be a real bargaining chip.
Have you done anything since you put the house on the market to try to generate a sale? If so, what exactly did you do? Find out if the seller lowered the price on the house. Did they offer to pay the closing costs? Is the realtor advertising that the sellers will include appliances like a refrigerator, stove and oven or washer and dryer in to attract buyers?
More revealing questions to ask home sellers
How soon after the house is sold will the sellers be ready to move out of the house? Make sure that you can move into your new home when you’re ready.
Please tell me how long you have lived in the neighborhood. Also, ask what the neighbors are like.
What do you like best about the house and the neighborhood? Also ask sellers what they like east about the house and what they wish was different about the neighborhood.
Reach out to the home seller’s realtor if you want to schedule a private viewing of a house. Arrive to an open house early enough to give yourself time to explore the house fully. The last thing you want is to make a rush decision on a house. Another tip is to bring a relative or friend with you, someone who understands houses, including a house’s structure, pipes and wiring. Before you leave, meet with the realtor or house sellers and ask them the right questions. Answers to these questions provide you the information that you need to make a wise house buying decision.