A home’s condition is important. It is good to consult with local experts on the property and situational circumstances, from weather and moister to structural integrity. The condition of a home is a significant consideration in most real estate transactions. As a matter of fact, 90% of the complaints voiced by buyers against home sellers, address the condition of the property. In order to evaluate the home’s value, you should thoroughly consider its condition. Our goal is to describe some common condition concerns and help you put them into the proper perspective.
Some Advice to the Sellers. Sellers often find difficulty seeking a top price when the property is not in top condition. It is best to consider correcting any condition flaws, but if that’s not feasible, sellers should then disclose condition problems. Upfront disclosure will prevent last minute obstacles and mistrust. Since today’s society is prone to engage in lawsuits, the seller is better off with the buyer in harmony rather than in court. Remember, condition problems that are disclosed, understood and properly valued should not prevent a home from selling. Click here to learn the details.
Let’s look at some specific questions sent in by DearMonty readers from across the country. Read more Q&A articles about the “Inspecting the Home” stage of the Home Selling process:
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Why do so many states not regulate home inspectors?
Reader Question: Why do so many states not regulate home inspectors? Monty’s Answer: Your question about why do so many states not regulate home inspectors is an excellent question. To answer this question accurately requires academic research that is beyond the scope of this column. I will reach out to the James A. Graaskamp…
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The problems with home inspections
Reader Question: You have written numerous articles over time about the problems with home inspections. We are near our savings goal and preparing to buy a home. What is your current opinion of home inspections? Monty’s Answer: Home inspection laws came into existence because home sellers were unaware of the defects, hid, or made…
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Three home inspection practices to scrutinize
Reader Question: I am a seller. My agent got me an offer that required a home inspection. When the investigation took place, they determined the electrical breaker box needed replacement. This discovery caused the buyer to back out. Now, can I sell my house without this upgrade and negotiate the price accordingly, or must…
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What should a home seller disclose in the condition report?
Reader Question: What must a home seller disclose and what are we not obliged to disclose? We are preparing to sell our home and want to know. What does the seller’s condition report cover and where does a homeowner’s responsibility to disclose end? Monty’s Answer: Most every state has laws and requirements for a home seller…
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Three most common home inspection misses
Reader Question: We are preparing to sell our home to downsize. We hear stories about home inspection misses. We will soon be dealing with two inspections. What items do home inspectors most often overlook? Harold W. Monty’s Answer: This question requires some background to explain efficiently. There are three facts centered around home inspections often…
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Overcoming a real estate inspection defect
Reader Question: Monty, I recently had a home inspection, and it is noted that my potential property had a crack in the brick due to beam shifting. If the seller does not want to repair the items because he has backup offers, what can I use as negotiating power? Thanks. Josh D. Monty’s Answer: Hello Josh, and…