Raining Repairs

This week has been the week of repairs. Ahhhh, such an unknown factor in real estate and one I try to always brace my clients for the unexpected. Buyers/sellers are oh so thrilled to finally get the home under contract, but a good Realtor knows that isn't the battle. The battle comes after the buyer hires their designated home inspectors to go in and pick apart the home under contract. Yep, it's true. Under SC state contract, the buyer has 10 business days to inspect a home inside and out. Usually there are three inspections performed: 1. general 2. termite 3. HVAC. After the 10 days, buyers usually come back with a laundry list of items they request to be repaired before the new owner takes possession. This is simply another negotiation step in the home buying/selling process. If buyers and sellers don't reach agreement on repairs, buyers can walk and the seller's house goes BOM aka Back On Market. Womp, womp.

Oh, your house is perfect you say? Unfortunately, most likely not. Even new construction builds have faults. And chances are, if you live in a charming, downtown bungalow there will always be a price to pay for that charm. There are six major factors to a home: Roof, HVAC, Termite/CL 100, Electrical, Plumbing, and Structure/Foundation. These can be the most costly components to a home and it's important to know how much these are to repair in the future. This is great summary on why you should get an inspection. AND, why it's important to hire a Realtor to negotiate and guide you through the transaction. 

So, this means after inspection repair requests a buyer will get a perfect home? Nope. In rare cases, sellers will agree to fix every single, little item requested and is usually not how the dice are rolled. All homes come with their own kinks - it simply comes down to what the buyer and seller come to a "meeting of the minds". All in all, 9 times out of 10, there is always a common ground reached and we find ourselves all sitting at the closing table a few weeks later handing over keys.

Don't let it rain on your parade!

L. Gilstrap

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