When and why should you consider having inspections done prior to listing your home on the market? In our area is it customary for the buyer to pay for inspections. But when would it be advantageous for a seller to do them prior to going active, here are a few examples as to why having inspections done prior to listing is helpful. It can end up saving you time and money!. Hi, I’m Maya Crelan Ray with David Lyng Real Estate. As a seller, you want to be aware of the condition of your property and we don’t want any unexpected costs to come up that you weren’t aware of. We’ve seen termite inspections well over $50,000. Imagine, getting a termite bill for $50,000 and the only way the buyer will buy the home is if it’s fixed or paid for. But you have already purchased another home and you need that $50,000 to qualify for your next home. This would create a huge problem. What about this, let’s say you found out that the home you’re selling needed a new roof or air conditioning unit to be replaced. You could do a few things, sell the home “As Is’ and disclose the issues, not sell at all, or take what needs to be done and fix it. The idea behind getting inspections done prior is so that there are no unexpected surprises that could financially hurt you later. We want the seller to be aware of any additional expenses that could possibly arise from the sale of their home. The inspections I recommend are the standard, customary inspections that a buyer would do. I recommend a Home Inspection, a Termite Inspection and maybe a roof inspection. In most cases, you have the option to pay for these upfront or when escrow closes. In regards to the Home Inspection and Termite, It’s helpful but not mandatory to make sure all the health and safety items are fixed, as well as all section 1 Termite work, which includes dry rot, leaks, and of course termites as These are very common requests that buyers have. It helps the seller because they have much more assurance that they will actually “net” what it is that they thought when going into escrow. It gives them peace of mind that the buyer won’t ask for any unreasonable or outlandish repairs. It also cuts down on inspection times. Having inspections done prior also protects the seller if they have a replacement property to purchase and need every penny out of their sale to secure and close on their new purchase. Also, the buyer is more confident that they are buying a sound home that is in move-in ready condition. Also if there is bank financing on the property, some loan programs require health and safety as well as Section 1 termite work to be completed prior to closing escrow so with that already being completed, there is further assurance that the loan will go through. To wrap it up, seller, buyer, and lender more confidence throughout the entire transaction that the home will actually close. It keeps everyone safe during and after the close of escrow. Please reach out with any questions you might have about selling or buying a Santa Cruz home.
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Local Real Estate • February 10, 2023
Home Inspections 👀 When Selling Your Santa Cruz Home 🏠
by Maya Crelan Ray
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