Sell Your Home For More Money
One way to be sure you can gain a better price for your house is to have a home inspection before you put it on the market. This profitable new trend in real estate is helping homeowners uncover any necessary repairs, so they can attend to them. This not only helps homes sell faster-because a buyer will be more likely to commit to a home with no major flaws-but a home that can pass inspection may earn the seller more money. Inspecting a home and repairing such problems can speed home sales by as much as 30 percent. It's a small investment that really pays off. "It's cheaper to fix it than to negotiate the price down," says Dan Steward, president of Pillar To Post, North America's largest home inspection service.
"It's been suggested that for every $1 of identified repairs, the buyer would be looking for double that in price reduction." For example, paying as much as $5,000 to repair a leaky roof is cheaper than having to lower the selling price of your home by $10,000. These are the 10 most common repairs that need fixing: 1. Improper surface grading and drainage. This can be responsible for water in the basement or crawlspace.
2. Improper electrical wiring. This includes insufficient electrical service, inadequate overload protection and amateur (often dangerous) wiring connections. 3. Roof damage. Leaking roofs are a frequent problem. 4. Heating systems. Defective items include broken or malfunctioning controls, blocked chimneys and unsafe exhaust venting. 5.
Poor overall maintenance can include cracked, peeling or blistered painted surfaces; crumbling masonry; makeshift wiring or plumbing; and broken fixtures and appliances. 6. Structurally related problems include damage in such components as foundation walls, floor joists, rafters and window and door headers. 7. Plumbing problems can include old or incompatible piping materials, as well as faulty fixtures and waste lines. 8. Exterior problems can include inadequate caulking and/or weather stripping. 9. Poor ventilation can be the result of many homeowners "oversealing" their homes, resulting in excessive interior moisture. This can lead to rotting.
10. Miscellaneous components may require minor cosmetic adjustments.
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