Ensuring a Smooth Home Closing: Tending to the Home
Posted on: June 9, 2017 by Signature Insurance Group
In our last two posts, we discussed the basics of ensuring a smooth home closing, which includes strictly following home contingencies. Being prompt and informed on how the process works can ensure the 30-day closing period is not extended and doesn’t fall through. Therefore, in this article, we’re going to discover how home sellers can tend to the home and handle any repair requests that the buyer might want. During this process, be sure to address your Orange County Home Insurance needs in your new home.
As we mentioned in a previous post, the last thing any buyer wants is to move into their new home in worse condition than when they viewed and purchased it. You’re better off making them rather than risking the buyer walking away. What’s more, a future home inspection could lead to more issues being uncovered, which will likely affect the sale of the home, as well. While you are not required to make cosmetic repairs, the contract that you sign with the buyers will determine which projects are a must before you can move out.
Most contracts stipulate that the home inspector will provide a free copy of the report to the sellers as well as to the buyers. If you receive a copy of the report and it describes defects in your home, you’ll need to disclose those defects to the next prospective buyers. Before you jump into negotiating requested repairs with the buyers and their agent, you should discuss the home inspection report with your realtor. You can get bids from several contractors to find out how much a repair will cost and then decide what to offer the buyers, states Realtor.
Or, if the buyers want to make the repairs themselves, your realtor can offer to coordinate a credit on the price of the home to accommodate them. As we explained in our last post, following through with contingencies, no matter how small, will promote a smooth and prompt home closing.
Mind the small things.
From old furnaces to outdated appliances, if something needs to be replaced, tend to the home. It’s important to show the buyers you value their decision to purchase your home and you’re taking care of it prior to them moving in. Keep it clean, be careful not to make any new scratches or holes in the walls upon moving out, and don’t leave messes for the new owners to clean up.
About Signature Insurance Group
At Signature Insurance Group we know how important it is to get the best rates and coverage for your assets. Call us today for more information on our Orange County Vacation Home Insurance at (800) 464-3606.