The buyers repair addendum listed a few fogged windows, a broken fence post, a damaged bottom board on the siding and a sprinkler head. The homeowner had put these items on the bottom of the to-do list for several months. Suddenly, they are at the top of the list, and they must be done before closing his home. Its funny how sellers often put off repairs until they have to be done in order to sell the home. Many buyers dont make the time to tend to repairs, nor do they want to take the time to call contractors. The same is usually true with sellers. They put things off until the repairs need to be done. When you view or you are interested in purchasing a home, you want to see the sellers disclosure. The sellers disclosure is a report that discloses items not working, needing repair or the ones recently repaired. It also tells the age of the roof, and if any insurance claims have been made on the house. Once there is a contract, the next steps are inspections during the option period. Most homebuyers will not buy a home without having it thoroughly inspected by licensed professionals. However, inspections are good to have year-round on your home. Dont be lured into thinking that the only time you need an inspection report is when buying or selling a home. Its a good idea to have your home routinely inspected in order to keep it in tip-top shape. Buyers are diligent about inspecting a propertys condition when deciding to purchase, but they often revert to putting minor repair issues to a low priority before closing. This can lead to major headaches if relatively small problems are left to develop into major defects. Soon after closing a home, make a list of all the defects flagged in your inspection report that still need correcting. If the seller repaired some problems as part of your purchase, be sure to keep a record of this information. It will come in handy whenever you decide to sell the property. Be sure to prioritize the list of remaining repairs and make sure they are done quickly. Set a schedule for completing the work. As the old adage goes, An ounce of prevention is worth a pound of cure. For example, one homeowner neglected to relocate down spouts that carried rainwater from the roof. Rather than carry the water away from the home, the down spouts deposited water right next to the foundation. After a while, the foundation settled significantly in this area. Consequently, the floor sloped down to this particular spot. When the seller listed his home, he had difficulty selling it because of this problem. Buyers were concerned about the settlement. The seller ended up discounting his home by a tremendous amount because of the defect, and due to financing the foundation repair. The problem could have been avoided if the repair would have been done in the beginning. The cost at that point was minimal. At least once a year, walk around your property with a notepad in hand and make a list of repairs. Make sure these repairs are corrected before a certain time. If you lack experience, hire a reputable home inspector to prepare a checklist for you. Climate conditions, such as rain, wind and sun, can cause damage to a home. When the paint peels, moisture can penetrate the wood and cause exterior and interior damage. Missing roof shingles can allow water to damage your walls. Also, allow a roofer to inspect your roof once a year. Most of the time, roofers give free estimates and let you know of any damage. Every home requires a slightly different maintenance regime. Place notes on your calendar to remind you of your maintenance schedule. Routine maintenance can include periodic cleaning of gutters. Trees need to be pruned to keep them from hanging near the roof, and to lower fire and wind risks. Have your home inspected for termites and carpenter ants as well. Its best to catch conducive conditions before they become serious problems. If all of this seems like a waste of time and a headache, keep in mind that buyers pay premium prices for homes in excellent condition. Its a lot easier to get your home ready to sell if therere no repairs. Well-maintained homes do not stay on the market long. Thats not only good for the seller, but its also a plus for the buyer. |
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