Selling or buying ?

Inspecting the resale home

Both the Buyer and the Seller of a Resale Home have a lot at Stake

As a home purchaser, you need to decide what property condition you are willing to accept. Are you handy with tools, and willing to make repairs? If not, avoid properties listed as "handyman’s special" or "renovator’s dream".

Are you willing to upgrade the wiring, add insulation, replace the roof, or renovate to make the floor plan more suitable for your needs? Or do you want a house that is ready for you to live in, except perhaps for some minor redecorating?

How much will such repairs, renovations, or redecorating cost? Here’s where the services of an independent home inspector can be of enormous value. Be sure that you know, for example, whether the wiring in an older home has to be brought up to standard, and how much the job will cost, before you make a commitment to purchase.

A qualified home inspector will have the experience and training to provide information to assist you make an informed decision. Problems that the seller or the realtor may not be aware of become the financial responsibility of the buyer — if they are not corrected or adjusted prior to the final sale of the house.

During a home inspection, the home inspector will concentrate on the condition and structure of the home and point out safety concerns. A professional home inspector should, at a minimum, inspect the following: exterior home site, building foundation, exterior home walls, roof coverings, flashings and gutters, roof support structure, attic, basement, insulation quality, garage, electrical, visible interior and exterior plumbing, central air and heating, and the interior condition of the home.

If you are selling an older home, how do you prepare for a home inspection?

These recommendations, taken from The Real Estate Professional magazine, may help you as a seller, in preparing for a home inspection. Many of these items can be done with little or no cost and many are regular maintenance items for a home.

Don’t do quick, cheap repairs. You may raise questions that will unfairly cause concern to the inspector and your buyer. 

Remove grade or mulch from contact with siding; six or more inches of clearance is preferred. Clean out dirty gutters or debris from the roof.

Divert all water away from the house with downspouts, condensation drains and the like. Clean out basement entry drains.
 
Trim trees, roots and bushes back from the foundation, roof, siding and chimney. Paint all weathered exterior wood and caulk around the trim, chimney, windows and doors.

Seal asphalt driveways, if cracking. Seal or point up masonry chimney caps. Install metal flue cap. Clean or replace HVAC filter. Clean dirty air returns and plenum. Point up any failing mortar joints in brick or block.

Test all smoke detectors to ensure they are in safe working condition.  Have the chimney, fireplace or wood stove cleaned and provide the buyer with a copy of the cleaning record.

Ensure that all doors and windows are in proper operating condition, including repairing or replacing any cracked windowpanes. Ensure that all plumbing fixtures (toilet, tub, sinks and showers) are in proper working condition. Check for and fix any leaks. Caulk around the fixtures if necessary.

Replace any burned out light bulbs. Have clear access to attic, crawl space, heating system, garage and other areas that will need to be inspected. If the house is vacant, make sure that all utilities are turned on, including water, electric, water heater, furnace, air conditioning and breaks in the main panel.

As a buyer or seller, you should find out what type of report the inspector uses. Avoid the home inspector who wants to charge you extra for a written report. A written report is standard in the industry.

Attend the home inspection and ask questions -- this provides you with an opportunity to learn more about the home and about any visible defects that might be found.

Linda Binns is Director - National Real Estate Sales, Retail Banking, TDBank/Canada Trust.