ON THE MARKET: Seller beware of hidden costs

Published 3:16 pm Wednesday, July 17, 2024

I would like to make sellers aware of hidden costs that you may encounter when selling your home.

Many of the homes in the Lake Oconee area are now 20 to 25 years old. We all think of our homes as our castle, being realistic the home has been lived in and enjoyed for many years.

When the time comes to sell, we sometimes look at our home through rose-colored glasses. Like getting older, nothing seems to age through our eyes. We all know that years bring changes, and our homes many times need a facelift (and I haven’t had one yet) and repairs are much needed.

So, let’s present a scenario that you are selling your home and you get an acceptable offer and you are elated. Today, most buyers will not purchase a home without an inspection. We have seen inspection reports that have up to 36 pages listing minor and major repairs that may be needed on your home.

Here are some of the things that you may want to take a serious look at before listing. The following are major expenses that you may be asked to absorb or replace (especially if your home falls into the category of 20 to 30 years of age) once the inspection report comes in:

ROOFS: Roofs normally last 20 to 30 years.

HEATING & AIR CONDITIONING UNITS:Life expectancy on unit is 12 to 15 years.

HOT WATER HEATER: 10 to 15 years.

These are major replacements that if the home is older you may expect the buyer to consider the extra expenses they will have to incur.

Today the seller may not even be aware of hidden defects. Inspection reports have come back with mold under wood floors, mold inside walls and deteriorating structural damage. This kind of damage may be unknown to the seller and are major expenses.

Many homes today have crawl spaces and the inspection comes back with water in the crawl space. This will have to be rectified to sell the home.

Older stucco homes should have a stucco inspection before listing. Therefore, there will be no surprises. Most stucco homes in the Lake Oconee area do not have problems.

Inspectors today are finding more defects in the homes on Lake Oconee as many homes are coming into the age of 20 to 30 years.

I have been Listing and selling in the Lake Oconee area for the past 25 years. We are encountering inspection reports coming in with many more issues to address.

I cannot express enough to sellers to inspect your own home from top to bottom before listing. Fix any wood rot, replace fogged windows, carpeting and floors should be in A-1 condition, Appliances should all be in good working condition. These are only a few things that you should take a good look at.

The bottom line is that it is heartbreaking to a seller when they think they have sold their home at an acceptable price and then they are hit with all the unexpected repair expenses that the buyer requests you to fix.

Negotiating on repairs is a crucial time in the sale of the home. Buyers today expect the house to be good condition. If you were the buyer, you would expect the same.

THOUGHT FOR THE DAY: Tough times never last, but tough people do. (Robert H. Schuller)