Have you ever seen a property that’s listed “as-is”? When a lot of buyers come across this label, they see it as a red flag because they assume something’s wrong with the property, but there’s nothing wrong with a property that’s advertised this way.
Why? The home inspection—buyers can still perform a home inspection to see if there are any real issues with it. Also, sellers are required by law in Massachusetts to disclose any material defects in their property.
From a buyer’s perspective, the home inspection is a big part of the home buying process, and the timing of the home inspection is critical. Ideally, you want to have yours performed within three or four days of having your offer accepted because you’ll need another few days after it’s done to investigate any issues, get all your questions answered, and make sure you’re comfortable proceeding with the purchase.
“After the home inspection is done, both parties will negotiate over what fixes need to be made or whether there should be a price adjustment.”
I always tell buyers that they should be present during the home inspection, both physically and mentally. This means no texting or measuring the windows to see how big your new drapes should be while the inspector is doing his job. You should be asking them questions as they move along the house and taking detailed notes on their findings so that you know everything there is to know about the property. They’ll have a wealth of information about your future home, and you need to take advantage of that.
Also, don’t freak out if an issue comes up—no house is perfect!
As a seller, you need to make sure your home is ready for the inspection and you have all its information available. The home sale process moves quickly these days, and buyers don’t have a lot of time to ask questions, so they’ll typically just make one visit to the property before they make an offer.
What kind of information do you need to disclose? Primarily, the age of the home’s features, meaning the roof, the appliances, the water heater, the furnace and HVAC unit, etc. Make sure you also provide clear access to the electrical panel.
After the home inspection is done, both parties will negotiate over what fixes need to be made or whether there should be a price adjustment. If an agreement can’t be reached, the buyer is free to walk away from the deal.
I hope this helps you have a better understanding of the home sale process. If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.