What is the Purpose of a Home Inspection for a Denver Seller, Anyway?
If you’re selling a home in Denver, you might be wondering: what is the purpose of a home inspection for a Denver seller? See below for an easy-to-follow guide to help you understand the importance of the home inspection.
A Home Inspection in a Contingency
To understand the purpose of a home inspection for a Denver seller, you have to understand that a home inspection is a contingency. In other words, when you are close to closing the deal on your home, one of the contingencies that need to be met is the home inspection. In fact, some sellers get a pre-sale inspection report long before they start entertaining offers, as this gives them more time to make necessary improvements early.
Home Inspection Basics
In order to keep your home sale from being derailed, it is imperative to understand the purpose of a home inspection for a Denver seller. Who gets the inspection done? Can buyers trust your home inspection report? And what happens if you get a bad inspection report or if your report is refuted by the buyer’s inspector?
Who Does a Home Inspection?
Both parties typically get an inspection done. It makes sense. As the seller, you want to know what problems could complicate your sale. Plus, you want to know what repairs need to be done so you can get the most value for your home.
The buyer wants to make sure that they are not putting all of their hard-earned dollars into a money pit. They are not going to rely on your inspector’s report alone, nor should they. When both parties do an inspection, it protects both sides. But it can also create problems if the reports have conflicting results.
What Happens when there are Conflicting Home Inspection Reports?
There are many ways to resolve those disputes that will not derail the transaction. In order for that to happen, both parties have to be willing to compromise:
You can bring down your asking price to account for the recommended repairs.
You could split the costs of the repairs with the buyer.
Or, you could get a third opinion from a neutral party.
Is Your Inspector Trustworthy?
The worst thing that can happen when there are conflicting reports is for trust to deteriorate. You can help avoid that by choosing a home inspector that is trustworthy, not just one that will give you a good report. Face it, even if they give you an artificially glowing report, the truth will come out in the end.
When a deal breaks down over the home inspection, inflexibility and a lack of trust is typically the culprit. If you are not willing to negotiate on the price when problems show up on your inspection report you are setting yourself up for a rough close at the very least and a busted deal at worst.
Check the qualifications of your home inspector.
Ask your agent to recommend a good inspector.
Seek referrals from friends, family, and neighbors who can recommend a trustworthy inspector.
What Happens When You Get a Bad Inspection Report?
First of all, don’t panic. Take the case of a couple whose home inspector reported that their furnace was condemned and had to be replaced. That repair would have cost the couple thousands of dollars. Moreover, the report naturally made the buyers nervous about closing the deal.
What did the sellers do? They got a second opinion from a contractor who completely disagreed with the first inspector and declared the furnace fit. The buyers did not know what to believe so the seller called in the gas company to inspect the furnace – a neutral third party. When the gas company found nothing wrong, the buyers were satisfied.
Inspectors are not perfect. They can get it wrong sometimes. The best approach to take to the entire home inspection process is to be flexible, willing to compromise, and get a second or even a third opinion if necessary.
Need an Expert to Walk You Through the Process of Selling Your Home? Longtime Denver Realtor Phyllis Ursetta is Here for You.
A qualified agent can help you better understand all of the ins and outs of the home inspection process, including the purpose of a home inspection for a Denver seller. Long time Denver Realtor Phyllis Ursetta is here for you!
Phyllis Ursetta — a Denver-born-and-raised Italian — has owned her award-winning Denver brokerage for nearly 30 years. Phyllis began her Real Estate career with Dana Crawford in 1991, the early days of the “Loft Craze” in downtown Denver. Then, she started her own Company, Integrity Realty, in 1992. Integrity Realty earned recognition from Colorado Biz as one of Colorado’s Top 100 Women-Owned Companies for five years running. Additionally, Integrity Realty was recognized as one of Colorado’s Top 250 Private Companies for two years.
Today, Phyllis continues to be a high producer of Real Estate sales in Denver. She is currently available to help folks who are selling their Denver home to achieve the best possible outcome. Give her a call or send her a text today to start talking strategy. Let her put her decades of experience in this very market to use to make your real estate dreams come true.
