A home inspection is a standard part of the house sale process. It gives sellers a chance to identify and address issues with the property, potentially making the sale process less stressful for buyers. While a home inspector will likely find something, it is rare for a report to come back completely clean. If problems are found, it is helpful for buyers to know the full picture before buying a home so they can adjust their purchase price or negotiate with the seller.
While it isn’t a requirement in all states, a pre-inspection should be done to ensure that the property you are selling is in good condition. Getting an inspection a year before you plan to sell can give you a roadmap for the work you need to do to get your home ready for the market. For example, if you discover that your roof needs to be replaced, this can be done ahead of time and can save you from being hit with a large repair bill at closing. Similarly, if your chimney is damaged and needs to be repaired, this can be completed prior to the sale and can help you to sell the house for a higher price.
Some sellers may feel that their house sale inspection are in good shape, and that a home inspector will simply point out things that need to be fixed or updated. However, the fact is that most houses will have some type of problem found during an inspection, and these issues can either be minor or major. Some of the most common issues that home inspectors find include roof problems, such as missing shingles or a leaky roof; electrical problems, including outdated wiring and circuit breakers; and plumbing problems, such as corroded water lines and failing water heaters.
If a problem is discovered that is so serious that it could compromise the safety of a buyer, it can be tempting to allow the buyer to walk away from the deal. Depending on the language in the contract, this can be possible as long as the earnest money is returned. However, this can leave the seller open to liability if they try to re-list the home in the future.
Sellers are often caught by surprise when a home inspection report comes back with a list of repairs that need to be done, particularly when the problems are relatively major. This can be a frustrating time for the seller, but it is important to remember that there is almost always something that could be improved or repaired, even in newer homes.
If a serious issue is found, the seller can offer the buyer a price credit or reduction to cover the cost of the repair or provide professionals to make the necessary repairs before closing. However, if the issue is severe enough that the buyer wants to back out of the sale, this is their right as per the terms of the sales contract.