What is a distant memory of the COVID market? Home buyers waiving home inspections! KALEO advocates for home buyers to do their due diligence, conduct as many inspections to satisfy themselves, and really investigate the aspects of the property that are important to them.
During 2020 and 2021, it was common for home buyers to shorten the period of time they had to inspect the property or even waive their right to cancel the contract based on items that came up in the inspection.
Now, ninety-five percent of home buyers are requesting home inspections and about two thirds of those home buyers are requesting the seller to make repairs based on the home inspection.
Sometimes home inspections get conflated with appraisals or other reports. Home Inspections create a report on the general condition of the property, evaluating areas in the interior, exterior, roof, plumbing, electric, cooling and heating. However, a home inspector is generalist and will typically recommend further evaluation from a specialist if they identify issues. For example, the general home inspector might recommend the buyer hire a Licensed Roofer or Licensed Electrician.
A home inspector is not generating an opinion of value for the property, that is the appraiser.
The home inspection process matters to both home buyers and sellers. KALEO agents prepare sellers that it is likely that the buyer will come back with repairs they want done. Of course the cost of the repairs varies based on the size, condition, and age of the property, as well as market conditions like how competitive it is.
If you are a Seller considering listing your home soon, before you start to make pre-listing repairs, paint, or put new mulch in your front yard, reach out to a KALEO agent. We would love to meet with sellers even if they are a few months out from their target on market date. KALEO can create a game plan and make sure you maximize any dollars you invest in your home prior to MLS input.
If you are a Buyer, then you can be confident that KALEO agents will advocate and try to win over the Seller so that your repairs are agreed to.
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