Photo credit: Element Construction So you listed your home for sale and received a fair offer ? great. But now it?s time to book all the inspections and hopefully pass with flying colors. And, with any luck, the buyer?s offer will align with the value on the appraisal report. I wish it could be that easy. List your home, get your asking price, appraisal comes back perfect, and the inspection reports come back with an A+. But, in the real world it usually doesn?t turn out this way and discoveries made during the inspection process could cost you the sale or delay the escrow period. The Inspections Chimney inspection Pest inspection Roof inspection General inspection A chimney inspection can reveal cracks that need repairing or something as small as adding or replacing a chimney cap or screen. Pest inspections can reveal termite damage, dry rot and mold. If your home has any of these issues, you can expect to pay thousands in repair

costs and perhaps need a $2,000 to $3,000 fumigation tent. You could lose your buyer over any of these issues for fear of future problems. Roof inspections will reveal damage from water, missing shingles, or it could suggest you replace the entire roof . Depending on the materials you use, a roof replacement can run between $10,000 (very low end) to $30,000 on a typical 1,600 square foot home. General inspections are where tons of little things add up to cost a small fortune, especially if you?ve had work done without a permit. I recently bought a home and the repair work on the general inspection report came out to $3,500. The fence needed new posts, all the electrical wiring was reversed, there were areas of exposed exterior wiring, etc. In total, the seller?s out-of-pocket expense for all the repairs came to $10,300. That?s a chunk of change. (more…)

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Will Your Home Pass the Inspection?