How you can tell which repairs you need to make before selling.
While working with buyers and sellers, a lot of clients ask us which repairs are necessary. If something comes up in the home inspection, should the sellers always fix it?
Sellers should never sign an inspection contract until they fully understand its obligations. You don’t want to be locked into fixing minor things that are unnecessary before the inspection occurs.
Now that we have that disclaimer out of the way, which items are worth repairing from your inspection? Inspection repairs fall into three basic categories: required repairs, unnecessary repairs, and up-for-debate repairs.
“Good agents can help you negotiate favorable terms.”
Required repairs are things you need to fix for lenders to approve your buyer’s financing. These usually include costly structural and safety issues, and they are necessary to mend. If you can’t fix these, you may need to consider selling to an investor. Other problems you’ll probably want to address include leaky roofs, electrical issues, and HVAC malfunctions. If you have repairs you need to complete before selling, you can always offer your buyer a credit to do the fixes after closing. This way, you’re still paying for the repairs, but you don’t have to deal with the logistics.
The good news is that you don’t have to fix everything on the inspection report. Unnecessary repairs include cosmetic issues. Your buyer may ask for them to be repaired, but good agents can help you negotiate favorable terms.
If you work with us, we can refer you to some fantastic contractors to help you take care of any necessary repairs. Plus, we can ensure you don’t have to fix anything that isn’t necessary. If repairs are too costly or too much hassle, we can also find a great cash buyer willing to purchase your home as is.
If you have questions about today’s topic or anything else, please call or email us. We are always willing to help.