There’s not always enough money available to make repairs when you purchase a home, but you had better get them done before you SELL the home.
My clients purchased a home three years ago, and we only had $1,500 in the contract set aside for repairs. Between electrical and plumbing problems, we went through that money pretty quickly. The structural engineer recommended two piers on the front porch, but reassured my Buyers that it could be done later. After all, the house was 85 years old, so what difference would a few years make? The porch wasn’t going to shift much more quickly.
Now they’re ready to sell the home and we’re under contract. Their Buyer’s structural engineer recommended ridiculous amounts of work to the porch. I went back through my 3 year-old files to compare notes – then asked my clients why they never got around to the piering. They just didn’t think it seemed to be a big deal.
We did get a second opinion on the structural recommendations and came up with a much more reasonable and cost-effective solution. My point is that the problem isn’t going to go away. Repairs not made when you bought the house may bite you when you sell the house!
Another client is ready to sell a home she purchased just two years ago. With this experience fresh in my mind, I reviewed her old files. Our purchase was cash, as-is condition so that we could get a good sales price. So I asked her if she had reinforced the rafters that her structural engineer had recommended, and she had not. Also, we had a bid for a new roof in my files, as it was nine years old at the time of our purchase. No new roof either.
I warned her that these items may come up when she sells the house, and it’s likely that her Buyer’s structural inspector will come up with the same results and recommendations – or worse.
The main reason that it’s better to make repairs BEFORE your Buyer performs inspections is that structural issues will concern or alarm Buyers. They wonder, “is this house falling apart?” Worse yet, they wonder, “if this is wrong, what else have they not taken care of?”
So, the repairs not made when you bought the house may bit you when it’s time to sell. Be pro-active and remove any possible Buyer objections – including repairs!
If you are interested in selling your Tulsa home, please read a bit about our team and do give me a call! 918-852-5036
Content written and published by Lori Cain.