p: lasvegasrealproperty.com
If you are buying or selling a house in Chittenden County, Vermont then heed this warning, “The house may not pass a building inspection.” What do you mean, “pass an inspection?” Are inspections now pass or fail? The short answer is “yes.”
Your Purchase and Sale Contract may include an Inspection addendum, with the caveat “Inspection report shall be to Purchaser’s satisfaction.” Satisfaction? Like a Yelp review on a restaurant? Does satisfaction mean a 5-star review? Or just, yeah, okay, satisfactory, like a 3-star review. Or satisfaction like the Rolling Stones, “Can’t get no satisfaction?”
And finally, is it a case of, there are no bad inspections, just buyers with high expectations? Let’s explore.
Let’s dive into the good, a 5-star inspection. Congratulations, the house you are buying has no significant structural, mechanical, electrical or plumbing defects. You may move along toward closing, this contingency is satisfied and the purchase price on the original contract remains intact. Or, maybe the house needs some GFCIs (ground fault circuit interrupters) and a mixing valve on the hot water tank. Oh, and the smoke detectors are over 10 years old and now need to be photoelectric. As the seller you will have to sign a document that states the smoke/fire/co2 detectors meet the current electric code. Most sellers will concede to some electrical updating along with the smoke/fire/co2 detectors.
p: thebalancesmb.com
Let’s look at a bad inspection, one that produces a laundry list of items that includes every historical leak (darn it, we knew we should have repainted the ceiling after the tub overflowed 5 years ago), creak, nail pop and flaw in the house, interior and exterior. The exterior suffers from peeling paint on the trim, curling asphalt shingles on the roof, gutters that are full of leaves and a driveway with potholes.
Now, let’s look at a plain old ugly inspection. This one has an active leak, usually a sewer pipe in the basement (don’t step in the puddle), mold (dead or alive?) in a poorly ventilated attic, and, everyone’s favorite, an old oil tank in the basement or an old furnace.
The issues that arise at inspection range from good, bad to ugly. That is why you want to hire an experienced real estate agent to walk you through the different scenarios. As a buyer, your agent can tell you which items you should ask the seller to take care of, if you should ask for money back, or if you should back out of the deal all together. As a seller, your agent will be able to advise you on which items are typically taken care of and what you can say no to.
Hit the refresh button on your entry. If your front entry is looking a little tired and offers no curb appeal, it’s time to freshen things up. A welcoming entrance will improve the whole house and it’s easy to create. Add a fresh coat of paint and new hardware to your front door – switch out old brass hardware for oil-rubbed bronze. Choose some sleek house numbers to add to the door or next to the door. A few brightly colored plants and a new welcome mat will add some life to the entry.
Upgrade the bathroom. Since it’s typically one of the smaller rooms in your home, the bath is a great area to upgrade, and a little will go a long way. You can choose some more expensive finishes in this space because it is so small. If you’ve had your eye on some marble tile, splurge on the small bathroom floor. Replacing the vanity will completely change the look of the room – you can find simple, single sink vanities for under $500, but will likely have to spend more for double vanities. Upgrade your shower head for a touch of luxury that will make you want to get out of bed.
Curb appeal – The exterior appearance of your home should entice buyers to come in and see more, so keep it neat and tidy. Make sure to mow the lawn, trim the bushes, weed the flower beds, and add a new layer of mulch to really freshen up the landscape. Add some flowers or plants in colorful pots to the porch and dress up the front door with a seasonal wreath to add warmth and a ‘welcome’ vibe.
Light it up – Clean all of the windows to let the light shine in! If you have heavy drapery that blocks the light, opt for a lighter or sheer curtain to ensure light fills the room, or remove the drapery all together. Make sure all of the light fixtures have working bulbs, and all at a similar wattage so that they all glow evenly.
1. The “Premiere Agent” on Zillow has paid to be in that #1 position. Many agents pay third party search engines to pop up at the top of the list of real estate agents in your area. This truth extends to Realtor.com, Trulia.com and Yelp.com. Many times, your top local real estate experts who provide exceptional service and results stay in business through repeat clients, past client referrals, and general “word-of-mouth” networks. Ask your colleagues, friends and family who they recommend before jumping on the internet to look for an agent.
3. Internet sites that promote “We will match you with a Top Agent” usually send your information to several agents that have signed up for that websites services. These agents scramble to be the “first” to contact you and the agents pay a hefty “finder” fee to the service.
But, does the real estate market slow down in the fall? How about winter? Years ago, real estate was more of a “seasonal” business, and, in some parts of the country it still is. Real estate market statistics are useless unless you see a “seasonally adjusted” number along with the monthly charts.
Do you need to hire a “specialist” or do you need a “general practitioner” when assessing the best real estate agent when you are looking to jump into the real estate market as a buyer or seller?
The Weaver Team 