Remember Me
forgot your password?

Home Inspection - Description Of Why It Is So Imperative To The Family

As the agent of the "For Sale By Owner" home, it is imperative that you are aware that home inspections are required by most contracts. A standard sales contract will give the buyer the opportunity to have many inspections performed on both the home and the property. If the home inspection results in some unforeseen information, it is possible for your sales to fall through. This is a terrible situation that every seller should avoid.

The inspections are as follows:

General Inspection: This home inspection is required because it ensures that all major appliances, heating, plumbing, air-conditioning, and electrical systems are in good working condition. It is the responsibility of the seller to keep all of it in working condition until the sale is closed. It will also be the responsibility of the "For Sale by Owner" seller to make any needed repairs to the house.

Roof Inspection: The "For Sale By Owner" seller has a chance of being liable to make repairs for leaks or any damage to the roof for up to three percent of the price of the sale. This liability is especially valid to sellers in areas with heavy snow.

Termites and other Wood Destroying Organisms: In this event, liability will differ depending on which state you are in. In some states the seller is obligated to pay for up to three percent of the purchase price to cover the repairs. In which case, the buyer would be obligated to pay for the inspections.

However, other states will have the "For Sale By Owner" seller be responsible for providing a certificate guaranteeing that the home is clean and termite free to the buyer. One must obtain this letter or certificate through a licensed pest control company. The majority of the time, you will spend less than one hundred dollars for these inspections.

For most sales contracts, one must have these home inspections concluded within a limited amount of time. If a buyer runs out of time, he or she loses the right to have any of these inspections. If the buyer has the inspections concluded within the given amount of time, the results will be sent to the seller.

As the "For Sale By Owner" seller, it is in your best interest to avoid any unforeseen surprises that can coincide with these home inspections. As a precaution, you can choose to hire an inspector in order to acquire a written report describing the condition of your home. More often than not, you will save money on the repairs that an inspector you have hired points out as opposed to an inspector the buyer has hired. The Home Inspector Locater is a great service that is available which is designed to help you find an inspector in your area. If you should choose to hire your own inspector, it will generally cost you about two hundred dollars. That money will be well spent, for you will most likely save a lot of money by doing so.

If you would prefer to avoid the home inspection entirely, you can do so by selling the home "as is", but generally speaking, you will be forced to sell your house for less. If you are the agent of the "For Sale By Owner" home, it is imperative that you make sure the stipulation of the sale of the house "as is", is written in the sales contract.

Tom Beaty
Tom Beaty offers New York Real Estate information for buyers and sellers. Don't buy or sell without visiting this Blog or it could cost you: New York real estate
Rate this Article: 0 / 5 stars - 0 vote(s)
Print Email Re-Publish

Add new Comment



Captcha

  • Latest Real Estate Articles
  • More from Tom Beaty

Property Deals in Canyon Lake

By: Kathleen Chester | 25/11/2009
Are you finding it difficult to buy or sell a house in Canyon Lake? Property management companies can help in solving your problem.

Essential Household Maintenance Tips

By: Marikor Hidalgo | 25/11/2009
Buying a house seems just like any other process where you need to check if it suits you right. However, it becomes a home when you incorporate certain elements of yourself as well as your loved ones. Homeowners painstakingly put things altogether to make their home an ideal place to live in.

Things You Should Not Do When Selling Your Home

By: Marikor Hidalgo | 25/11/2009
Selling your home can be a profitable experience. Too bad, there are some things that home sellers do that drives away most potential home buyers. Usually, the biggest mistake that a home seller can do is pricing the home way beyond what buyers are asking. Realtors will often tell you about comparable prices of similar homes in order for your home to sell a lot better. Your asking price should be the one your competition has which is currently available on the market.

Red Sea Property Has Something For Everyone

By: Mark Burns | 25/11/2009
The Red Sea Riviera encapsulates some of Egypt's fastest growing tourism hot-spots, most notably Sharm el-Sheikh and Hurghada. In both of those locations you can find the best investments and holiday homes that Red Sea property, and arguably Egypt real estate as a whole has to offer.

Buying A Business—What You Need To Know Before You Buy A..

By: MiNeeds | 25/11/2009
So you made the decision to buy a business. Now what?? Well, to begin with, I would recommend you get the services of a business broker to help you find the right business—it is FREE

Fundamental Tips for Landlords in Handling Tenant Complaints

By: Rose | 25/11/2009
Tenancy is becoming one of the most popular options for individuals who do not want to worry about hefty mortgage loans and home maintenance. The practical notion of this alternative in catering to your housing needs is fast growing that more and more property owners are considering turning themselves into landlords and lease out their properties. In making your investment profitable and productive, you need to know salient components in becoming a landlord particularly in handling complaints.

How to Purchase Homes in Osoyoos

By: Sabrina Jose | 25/11/2009
Real estate is a kind of business which provides details on the homes and the vacant lands available for sale, their place of location, cost and other related information. Buying a home is considered to be one of the largest investments in your lifetime. Purchasing a home is like depositing your money in a bank.

Add Worth to Your New Home: Plant a Tree

By: Joe Tacoma | 25/11/2009
You are now settled into your new home, you have unpacked all your belongings, and the mover in Seattle is gone. After a few days of rest from the strenuous physical efforts involved in a move, it is time to start thinking about adding worth to your new home. As it...

Home Inspection - Description Of Why It Is So Imperative To The Family

By: Tom Beaty | 03/02/2008 | Real Estate
As the agent of the "For Sale By Owner" home, it is imperative that you are aware that home inspections are required by most contracts. A standard sales contract will give the buyer the opportunity to have many inspections performed on both the home and the property. If the home...

Working With An Self-Seeking Buyer And Knowing How To Close The Deal

By: Tom Beaty | 03/02/2008 | Real Estate
Since you are the "for sale by owner" seller, you will often receive phone calls from potential buyers with inquiries about the home for sale. When you Get a call from a potential buyer who has seen the house within the past few days and wants to learn more about...

Acquiring The Suitable Buyer For Real Estate Sales

By: Tom Beaty | 03/02/2008 | Real Estate
An accomplished real estate agent will only show a pre-qualified buyer the property, when they are trying to make real estate sales. The only option for a "for sale by owner" seller is to have every buyer pre-qualified before they ever think about bringing a sales contract into it. Signing...

Real Estate Sales Contract : Individual Portions To Look For

By: Tom Beaty | 03/02/2008 | Real Estate
You will need a signature on your real estate sales contract as soon as a pre-qualified or pre-approved buyer has concurred with the asking price. More often than not, handling these details is the obligation of the real estate agent, but as the agent of the "for sale by owner"...

Proficient Buying Foreclosure Homes

By: Tom Beaty | 03/02/2008 | Real Estate
There is a lot of money to be made from investing in foreclosure homes. Selecting the correct house from the list of distress homes may give you a favorable profit. People frequently invest in real estate because of this reason. In order to do well, one must perceive investing in...

Swiftly Preparing The Content Of A House For Sale By Owner Today

By: Tom Beaty | 02/02/2008 | Real Estate
The perimeter of the "For Sale By Owner" home is the first thing a potential buyer will see, but the content of the home will be the lasting impression. This means that it is essential that you go through your home in order to dispose of the clutter before...

Securing The Correct Buyer For Real Estate Sales

By: Tom Beaty | 02/02/2008 | Real Estate
When attempting to make real estate sales, an experienced real estate agent will wait to show buyers the property until they are pre-qualified. As the "for sale by owner" seller, you absolutely must pre-qualify your buyers before you ever consider signing a sales contract. You can never...

Submit Your Articles Free: Signup
Article Categories




Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.11, 1, w2)