Video Transcript: Home Inspections for Sellers
This is the transcript of the video, "Home Inspections for Sellers: Prepping for the Sale".
Voice over: A thorough home inspection is critical in the home-buying process but it's more typically thought of as something the buyer has to do. But for sellers, there are some very helpful things that can be done on their part as well.
Kenny: Hi, Ruben, Kenny.
Ruben: How are ya, Kenny?
Kenny: Good.
Voice over: The first of which is to get a pre-sale inspection.
Kenny: This beam up here, Ruben, is much too long of a span to carry the weight of a second story. This is a very, very steep stairway. It's a tripping hazard, it's not a safe stairway, so it's going to be a big objection when they (buyers) come into a house – they want a safe stairway. It's a frequently-traveled area.
Voice over: Addressing any repairs before the buyer shows up with their inspector can help ease the selling process and even hasten the sale.
Kenny (now outside of the house, looking at tree): The first thing that's gotta go is this tree – it's at risk of falling onto the house in a big storm. It's just overgrown. Take care of that stuff, Ruben, and you'll be on your way.
Voice over: On the day the buyer brings their inspector, the best thing a seller can do is leave.
Kenny (to Ruben): We're only going to need about four hours, how does that sound? We'll call you when we're done.
Ruben: Perfect, see you later.
Kenny (to Stacey): It's really important that the seller not be here while we're being critical of his home. It can be slightly uncomfortable or antagonistic.
Stacey: I'm actually glad he's not here because, as the "buyer", I have a lot of questions and I might not feel comfortable asking them if he were here.
Kenny: No, you wouldn't. People don't like that – it's very uncomfortable for me and it's going to be very uncomfortable for the buyer. So, Ruben's gone, and that's good.
Voice over: From there, the buyer and inspector can get down to business.
Kenny: Thermostats – this is the old dinosaur. You want a programmable type that can be set back while you're sleeping.
Stacey: And how much will that cost me?
Kenny: They're really inexpensive: $35 - $40. You can even do it yourself. Let's see what's in the kitchen.
Voice over: Hopefully the property inspects well. But what happens in the event that things don't go as expected?
Stacey: So, let me ask you a question: What can the seller expect if this home does not inspect well?
Kenny: Well I've been hearing that sellers in this [current] market are taking more responsibility for problems that we might find.
Stacey: So from what I'm hearing, it sounds as if the buyers really have the upper hand now, and they have the option to negotiate that price.
Kenny: That's right. The market for the past three years has been much stronger for the buyers, which is totally opposite of what was going on the eight or nine years prior. So you can probably expect that this buyer is going to come back to the seller and try to renegotiate. But that's a decision they're going to make with their Realtor, their attorney, talking to family members, etc. But generally, that's what's been happening in this market.
Stacey: so listen to these tips and consider a pre-sale inspection. It's not only money well spent – but you may even sell your home faster.
