Top 10 Things a Seller Should Know When Their Home is Being Inspected
It is very typical for buyers to want to inspect your home. They’re not necessarily thinking you’re hiding things. A home is one of the largest investments a buyer will make and it just makes sense to find out as much as you can about it. There are a few things to know before the inspector shows up.
- It’s OK to be nervous! Most sellers are! The thing to remember is that worry changes NOTHING! Most sellers freak out all to find out the buyers ask for a few items. Even if there were earth shattering findings, your worry offer solutions for NOTHING! SO, try to relax and take things as they come.
- Texas Licensed Home inspectors are licensed through TREC (Texas Real Estate Commission). The same entity that issues Real Estate Licenses. Therefore, the buyer might show up for the home inspection and their agent may not. Rest assured that inspectors have been vetted including background checks and fingerprinting, so you should have the same peace about them being in your home.
- An average-sized home, 2500 sq. ft or less in the Texas Panhandle, should take 2-4 hours. However, inspections on larger homes may require more time.
- To save yourself the money from having to reimburse the buyer for inaccessible items and the return trip of a home inspector, be sure that all items are accessible. For example, attic pull downs, crawl spaces, breaker panels, sprinkler system panels, hot water and heater closets.
- All utilities should be left or turned on in order for buyer’s to have the ability to inspect all systems.
- Much of what may appear on a report might be code variances. The required code now might not have been building code when your home was built. Many buyers will not fret over these items, but there are some that do. It is a futile effort to try to bring an older home to new code standard, however, if not completed a buyer may choose to exercise their termination option. (See paragraph 23 of your Texas Residential sales contract.) Sometimes a written statement from a local municipality on code for the particular year built of home.
- Just because a buyer checked the “As Is” box on the contract, does not preclude them from requesting repairs, nor does it prevent them from exercising their termination option. (see Paragraph 23) It simply states that at the time of writing the contract, they’re not requesting any repairs. See Paragraph 7D of the Texas Residential 1-4 Family contract) Appraisals are typically conducted after home inspections. They do have items that are “subject to”. These repairs are considered “lender required”. (See Paragraph 7E of the Texas Residential Contract) What “lender required” means, is dependent on type of loan the buyer may be attaining, certain items may be required to be repaired or remedied before the bank will complete the loan. The contract states that no one is “neither party is responsible for paying for repairs”, however, a buyer may not be able to attain the financing desired if the repairs the appraiser specifies are not completed.
- You DO NOT have to leave the home spotless as if it were being shown. Remember, your buyer might attend, and you want your home inspector to have clear view of everything with the exception of what is under or behind furniture.
- Texas HOME inspections are NOT PASS or FAIL. They’re conducted for the purpose of the buyer acquiring as much information about the LARGE investment they’re making as possible.
- You are not obligated to agree to complete ANY repairs however, a buyer may possibly have the unrestricted right to terminate. (Paragraph 23 of the Texas Residential 1-4 Contract), or if the items are specified by the appraiser and “lender required”, the buyer may not be able to attain financing, thus the the buyer could terminate the contract and possibly be entitled to the earnest money when refunded.