Home Inspection Reports
Thursday, October 5th, 2006Home Inspection Reports
Sometimes your home inspection report is the least of your concerns when investing in real estate in Birmingham, Alabama. Having the repairs or problems corrected by the seller sometimes is your biggest hassel.
Depending on the negotiated sales price, you can have a seller that will readily make repairs and concessions or vice versa. Regardless of your situation, remember that most sales contracts, or at least ours, require title to be passed on a home in good working condition. What does that mean to you the buyer? Well, it means that things like doors should open and close and the plumbing should be in good working order without leaks or drips.
Experience has shown that a home sold to a buyer at a price the seller thought “good”, usually brings out a willingness to make these repairs. Experience has also shown, by the time they make these repairs, their gross profit price usually ends up closer to what it would be at the fair market value. Funny how that works?
What does this mean to a seller. Simple, make minor repairs before listing! In all likelyhood you will end up making a money on the repairs and increasing your profits. Otherwise, these repairs will jeopardize your sales contract closing and in the long run cost you money not only in repairs, but in the cost of marketing your home.
This is going to be a beautiful weekend in Birmingham, go shopping for homes!

