New or old, the chance of a home in need of zero repairs is slim to none. There is no perfect house. Every component of every home has the potential for defect, poor craftsmanship, and wear-and-tear, with each part and parcel of a property reaching the end of its lifespan at varying times.
In today’s real estate buying tips, we’ll look at such common home issues, and whether it’s better to address common problems or let them slide.
Common Home Inspection Deficiencies
These issues, identified by an independent, qualified home inspector, could slow your sale. Most unfortunately, sellers often refuse these repairs due to cost. If your buyers aren’t willing to compromise on compensation, advise them to look at newer homes.
– Ungrounded Electrical
Pre-1960s homes with ungrounded electrical systems pose problems for today’s sensitive and expensive electronics.
– Galvanized Piping
Galvanized water pipes, rust, leak, and can suffer low-pressure due to buildup.
– Orangeburg Sewer Pipes
These pipes last 50 years, then disintegrate.
– Roofing Issues
Buyer beware: Many home inspectors don’t include roofs.
– HVAC & Water Heaters
Be wary with furnaces over 20, and HVAC systems over 10 years old. These systems are expensive to replace.
– Foundation Problems or Wet Basement
Think twice before making a purchase.
Real Estate Buying Tips for Negotiating Repairs
Don’t nitpick. Focus on major issues. Always give sellers the home inspection report – this will inspire them to be more agreeable to requested repairs when they see the number of deficiencies that buyers aren’t demanding to be addressed. On the buyer side, ask the sellers to pay for a home warranty. If the lender is agreeable, lean toward a cash credit toward repairs – sellers have little vested interest in what happens post-sale, and may look to bottom-line pricing over quality.
Don’t get left picking up the pieces of your next sale. Stay in-the-know with the real estate buying tips and technology of Properties Online today.