One of the important milestones during the process of buying a home is the inspection period. I always recommend a professional inspection by a certified, trusted Inspector, even though Colorado does not require inspectors to be licensed to operate a business. Don't rely on a once-over from your Uncle Al who's been a handyman for decades; a good Inspector has special expertise and tools to help him evaluate the structure and systems, and can recommend other inspections that may be needed, like sewer scoping, structural or asbestos.
Another tool for helping evaluate a home is the Seller's Property Disclosure. This document is filled out by the sellers, and relates everything they know about the property to date, from roof leaks to code violations, from pest problems to appliance functionality. It is not required to transfer the property, but it is always recommended. Buyers will expect to receive this document, and sellers refusing to fill it out will raise eyebrows. In addition, it can help jog a seller's memory about past problems or repairs that they may unintentionally neglect to mention. While they are not legally required to fill out the SPD, they are required to disclose material facts about the property, and not doing so may result in big legal trouble down the line should something serious go wrong for the new homeowners.
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| Would you know if your roof was in need of repair? |
Depending on your situation as a seller, you may want to consider having your house inspected and pre-certified even before listing your home for sale. For a few hundred dollars, you can discover any issues that are likely to come up when the buyers do their inspection and address them right away. You will be able to decide for yourself whether to repair or replace an item, and select the service provider on your own. In many cases, it will be less expensive to take care of issues up front than to allow a buyer to use them to negotiate a discount on the asking price later. This does not guarantee that another inspector won't find other issues, but at least you know that the big items such as the roof or furnace are in good shape.
There are companies that will do an inspection and then certify the home with a home warranty. This can be just the thing to give a buyer some peace of mind for the near future. Home warranties start around $300 for about a year, and there are several different packages covering a variety of items and systems in the home. Offering a home warranty in your listing tells buyers that you are good about maintenance and sets a positive tone for negotiations.
One thing to note about getting the home pre-inspected. Once you are aware of material facts about the property, you are required to disclose them to potential buyers. If you find that there is some settling happening due to improper drainage, or that the furnace is on its last legs, you have to tell whether or not you plan on rectifying the issue. However, it's likely going to come up at some point anyway, so I always advocate for being the first to know.
image: Dana Dean Roofing Company
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