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By Maryanne Jackson
February 10, 2019 (San Diego’s East County)
Dear Maryanne,
My wife and I are considering selling our home in Spring Valley and purchasing a larger home in the same area. We will need to use the proceeds from the sale to upsize.
Is it recommended to hire a home inspector prior to putting our home up for sale?
If so, what is the advantage of us putting the $450 out to do this? Will the buyer still need to get their own home inspection during the escrow investigation process?
--Eric J., Spring Valley, CA
Dear Eric,
I recommend getting a home inspection prior to listing your home for sale.
I realize that $450 seems like a lot of money but, it could ultimately save you thousands of dollars down the road.
There are a few important benefits of knowing the condition of your home prior to accepting an offer that you should be aware of:
- The home inspection report will likely reveal issues that could cause your anticipated sales price to be less than you or your realtor may have expected. This is very crucial since you are going to be purchasing another home with your proceeds from the home sale.
- The inspection will provide you with ample time to resolve the issues.
- The home inspector will point out state mandated requirements, such as smoke detector and carbon monoxide detector requirements as well as advise you on any potential repairs you should know about. It is important for you to keep track of all the items you fix and warranties that may be transferable at point of sale. You will be required to disclose any updates, improvements and repairs in the Transfer Disclosure Statement. (T.D.S.)
The buyer’s agent may request a copy of your home inspection report and any proof of the repairs you did in addition to the T.D.S.
This does not alleviate the buyer’s responsibility to perform their own home inspection.
It is important for you to keep track of all the items you fixed and warranties that may be transferable at point of sale.
For additional information, or to submit a real estate question please email westcoastproperties@yahoo.com Maryanne Jackson INC. Real Estate Broker, CNE, CPRES. DRE# 01784021. Direct contact 858-740-7858
All Questions will be answered on a first come first serve basis.
Comments
Home inspections are so important! I learned this firsthand.
When we bought a house, our home inspector found faulty wiring, overloaded circuits, and a bolt that had fallen out which bolted the home to the foundation in case of earthquake. He suggested we hire a pool inspector who found a pool cracked and leaking. Those changes led us to get $10,000 off form the sellers to cover repairs including removing the pool, which could not be salvaged. Best $300 I ever spent was on that home inspection!
Home Inspections are so important!