Smooth Selling (4 of 4 in a series)
Continued from the last month, “What is all this paperwork?” This is the 4th and final in a series of 4 articles that let a Seller know how to minimize a lot of the stress by understanding and preparing reports, disclosures and inspections ahead, rather than waiting until a Buyer is involved. The more prepared you are the smoother the sale will be. We’ve reviewed the first 25 items; this month we will review 26- 34
- Property Inspection Report - Obtaining this inspection/report prior to having a buyer can have many advantages for a Seller. This is true even if the buyer does his or her own inspection later. By having a report done ahead of time you know how your property will fare with a professional inspection, and more importantly, it allows you to seek competitive bids, alternatives in repairs, and/or create allowances for repair giving you a for a stronger marketing position with potential buyers.
- Structural Termite Report - While everyone has heard of a “termite” report is it somewhat of a misnomer, as it is technically a “structural pest control report”. Structural pests include wet rot, dry rot, fungus, beetles, as well as termites. All of these pests can, and do, cause structural damage. The common practice is for a seller to repair all “section 1” work. This is area of actual damage or infestation. ‘Section 2” work is something that could lead to structural damage, if not repaired or corrected. Generally it is considered information for a buyer, so that they may correct this in the future.
- Well Reports - If the property has a well, Sellers may as well know up front if their well meets current quality and quantity requirements of the County Health Department. You can bet the buyer will want to know.
- Septic Tank Inspections - If you have a septic system, know what the professional will report and/or recommend, and if there are repairs needed.
- Chimney Inspection – the inside of chimney build up residue from fires, chimney caps rust. Find out the condition of yours if the Home inspector recommends it.
- Roof Report -
- Home Owner Association Documents Order them and have them ready. The Buyer wants to know the requirements restriction and regulations they will be living with if they buy into your association.
- Receipts For Repairs, Corrections, and/or Replacements Made To The Property - If you have any of these available, it is wonderful for a buyer to see that you have done recent maintenance and repairs. They gain respect for the care you have taken of the property.
- Montara Or Moss Beach Fire Department Smoke Detector Certification, Provided At Close Of Escrow- if you own a home in Montara or Moss beach, the fire department requires a home inspection of the smoke detectors prior to transfer. They charge $15.00, come to the property, verify there are adequate and properly placed detectors and that they are in working condition.
Well these articles have covered a lot of information. There is an old saying that your home is never completely done until you sell it. Can you sell a home without doing this? Of course. Will you generally get the maximum price for your home with out these? Not usually. Don’t be overwhelmed by this, real estate agents are usually good at assisting you through this process. Just remember that the more specific, factual information that you can provide to a buyer about your property, the more like they are to pay you a premium for your property.