When what looks like a solid offer on a home falls through and the home has to be put back on the market, everyone wonders what went wrong. The top 4 reasons pending home sale agreements go bad include the following:
Buyer gets cold feet
Buyer’s loan application is rejected
Seller’s home is appraised low
Home inspection uncovers problems
While there’s nothing the home seller and their realtor can do about the first two, there is something you can do about the last two – get an infrared home inspection before you put your home on the market.
How an Infrared Home Inspection Helps Low Appraisals
Most home buyers take out a mortgage when buying a new home, and to protect the lender’s money from huge losses, the lender requires an appraisal. Most real estate agents are skilled at determining a great sales price, but if the appraisal comes in lower than the sales price, that’s when buyers get nervous.
One of the best ways to avoid the problem of a low appraisal is to price your home right and one of the best ways to get an accurate sales price for your home is by absolutely knowing your home’s condition. After all, a single-story colonial-style home in a great neighborhood with a leaking roof is not going to be worth as much as a single-story colonial-style home down the street in the same neighborhood without a leaking roof. It’s that simple.
How a Pre-Sales Infrared Home Inspection Helps Home Sellers
One of the best ways to sell your home quickly is to have it in top condition – and a pre-sales home inspection will help a seller identify any issues with their home before the buyer’s home inspection. To the homebuyer, your home may look perfect but finding out there’s a leaking toilet on the top floor, missing insulation in part of the roof, and an overworked heating system could be enough to kill the deal for the buyer.
Sure, you could wait for the buyer’s home inspector to identify the problems and deal with them then – and many realtors will tell you that’s your best option – but if you really want to sell your home fast, what better way than to fix everything ahead of time and share your findings with the buyers? Yes, it’s a little unconventional but either way you’ve already addressed anything the buyer’s inspector can find so the offer is far more likely to go through as quickly as possible.
With the risk of a low appraisal and a buyer’s home inspection failing aside, your home is targeted for the quickest sale possible – an extraordinary edge when it’s a buyer’s market and your home is just one of many available for interested buyers.
Andrew MacDonald can help homeowners and their realtors in Algonquin, Elgin, Hoffman Estates and surrounding areas sell their homes faster with a pre-sales infrared home inspection. Give him a call today at 888.852.8298 to schedule your infrared home inspection today.