Looking for the Invisible

When you hear the term "home inspection," you're likely to think of the electrical system, plumbing, roof and foundation, and smaller items like cracked windows or drafty doors. However, it's the elements in the home that cannot be seen that demand special attention on the part of buyers and sellers and the inspector they choose.

First, there's radon, a colorless and odorless gas that seeps up from the ground and has been labeled as a cause of cancer. Any home, but particularly those with basements, should be tested for high levels of this gas.

Next is asbestos, a fibrous material once used for insulation, but banned in 1985. Homes built before then should be tested, and care should be exercised not to disturb this material when remodeling these older homes.

Another threat is lead, a toxic metal that was widely used in paint, pipes, and other materials. Any home built before 1978 should be tested for its presence, and any lender offering HUD-insured mortgages will require a lead-safe certification for these older structures.

Another culprit is groundwater contamination, a particular concern for homes with older septic systems or underground oil tanks, or homes near industrial facilities. Also search for hazardous products stored in and around the home, making certain that they are removed before transfer of the property to new owners. Be smart and be safe!

Flex Your Buying Muscle

Regardless of the causes, most areas around the country are experiencing what is commonly referred to as a "buyer's market." That term might make sellers squirm, but for those purchasing a home, lower prices are just the starting point for negotiation these days.

During the recent "boom" years, buyers often accepted a property "as is," and asked for few concessions, even forgoing inspections and appraisals in an attempt to avoid being dumped for the next qualified buyer in the queue. Now, however, buyers are in the drivers seat and they know it, insisting on a variety of terms in their offers.

The most popular demand now seems to be the "home warranty," whereby the seller purchases a one-year service contract to cover any unexpected system and/or appliance repairs. Of course, this is on top of insisting that sellers pay for all needed repairs exposed by an inspection before closing, or at least an allowance paid to the buyers to cover the expenses.

Just one inspector doesn't seem to be enough, either. Now buyers are looking more closely at lead and radon levels, roofs and foundations, and looking into inspectors who specialize in these areas. Sellers find they need to be more flexible, or the buyers will simply move on to the next seller in the queue. Now is the time to boost your purchase power.

Stay One Step Ahead!

As a seller, you'd prefer a nice clean, unconditional offer at full price, right? One way to encourage such confidence among potential buyers is to have an inspection report available during showings, as well as any receipts (or estimates) for repairs. Why order an inspection when the buyers will probably do so anyway? Because when you take the initiative and perform repairs before listing, you are basically presenting a clean bill of health for your home.

Prelisting inspections are becoming a popular way to give sellers an edge in competitive markets. Taking such action also provides a great opportunity to take care of problems that otherwise might come back to bite you. Buyers today are armed with more knowledge than in the past, and they recognize the security offered when the seller is forthright and demonstrating that there is nothing to hide.

These are the conditions that are more likely to produce that unconditional offer. While it's probably a given that the buyers' representative will encourage them to order their own inspection, you also have a greater sense of confidence knowing that there won't be any surprises.

If you have any doubts about whether a prelisting inspection will improve your chances for an early sale, discuss it with your real estate representative, who will also undoubtedly have many other suggestions for successfully marketing your home.