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Expenses
| 1. |
Go
ahead and disclose any insurance claims against the
property. Home insurance in the state of California
is becoming harder for homebuyers to attain because
of past claims on the property to be purchased. It’s
better to know up front, for both buyers and sellers,
whether the property can be easily insured or not.
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| 2. |
Your
property may need to have a well, sewer or septic inspection.
Donna will let you know if these inspections will be
required. If so, it will be an additional expense to
either the buyer or seller. Usually these inspections
are easily done, but there are some exceptions where
they could be costly.
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| 3. |
Because
purchasing a home is a large investment, it’s
important that buyers have it inspected so that they
are aware of any repairs that may need to be made.
The home inspection consists of a visual examination
from the foundation of the home to the roof. In conjunction
with the home inspection, the buyers will more than
likely have a pest inspection done. If it is found
that repairs need to be made at the property, then
the buyers may submit to you a “Request for Repairs.” As
the seller, you will have the option to negotiate that
request, whether you decide to incur the costs of the
repairs, split the cost, or ask that the buyers pay
for the repairs.
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| 4. |
California
Association of Realtors requires that an agent representing
the seller of a home do a visual inspection of the
home and disclose anything from normal wear and tear
to obvious repairs that need to be made. This applies
whether a buyer decides to have a home inspection done
or not. In addition to this, the buyers will do a visual
inspection of the property prior to the close of escrow.
Again, if a “Request for Repairs” is submitted
because of the disclosure or because of the buyer’s
inspection, you will have the option to negotiate that
request.
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| 5. |
California
State Law requires that all water heaters be securely
attached to the wall to avoid toppling over during
an earthquake. If your water heater is already strapped,
make sure the straps are attached to either concrete
or to the studs in your wall. If your water heater
is not already securely strapped, kits can be bought
at the local hardware store, which are certified by
the State Architect.
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| 6. |
Home
Warranties are not a requirement, but it is a good
idea for a seller to purchase one. The reason for this
is because home warranties offer additional after sale
liability protection for the seller, and they can deter
lower price negotiations because buyers won’t
have to be concerned with high cost home repairs after
the close of escrow. |
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