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Prepare For Inspection and Appraisal
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Home Inspection: Understanding Your Home's Condition
A home inspection helps the buyer evaluate the property's condition and identify potential issues.
The inspector examines major components, including the roof, plumbing, electrical systems, air conditioning, water heater, and appliances.
The focus is on the home's condition.
A home appraisal provides an independent opinion of the property's market value, typically for the buyer's lender.
The appraiser considers comparable sales, location, size, features, improvements, and overall condition.
The focus is on what the home is worth.
Home Appraisal: Understanding Your Home's Market Value
Preparing for the Home Inspection
Inspections typically occur during the first week of the contract and take approximately two hours.
Before the appointment:
- Keep utilities connected.
- Clear access to the AC, water heater, electrical panel, and attic.
- Make appliances and plumbing fixtures accessible.
- Ensure faucets, tubs, and toilets can be tested.
The buyer reviews the findings and may cancel the contract at their discretion, proceed, or negotiate.
Buyer's may request repairs or a closing credit, particularly for insurance-related concerns.
Sellers are not automatically required to make requested repairs. Any negotiated agreement should be documented in a signed contract addendum.
What Happens After the Inspection?
Preparing for the Appraisal
Often takes 20-30 minutes. The appraiser evaluates the property's market value, considering comparable sales, location, size, condition, and improvements.
Keep your home in showcase condition, just as it appeared in listing photos and buyer showings. A clean, well-presented home makes its condition and features easier to assess.
Before the appointment:
- Clean and declutter every room.
- Make beds and clear countertops.
- Open blinds and turn on lights.
- Tidy the landscaping and exterior.
- Address visible maintenance concerns.
- Provide a list of significant improvements and permits, if available.
Maintain the presentation that helped sell your home.
Your Pre-Appraisal Checklist
What If the Appraisal Comes in Low?
If the appraised value is below the contract price, the buyer may request a price reduction.
Other options may include renegotiating, addressing an appraisal error, or adjusting financing.
The outcome depends on the contract and lender requirements. A lower appraisal does not automatically mean the sale is canceled.
You've worked hard to prepare your home and secure a buyer. Maintaining its condition and accessibility helps the remaining steps go smoothly.
Sharon will guide you through the inspection and appraisal process, including any decisions or negotiations that may follow.
The goal is a well-prepared home and a successful closing.
Keep Your Home Ready Until Closing
Information deemed reliable, but not guaranteed. Not intended to solicit sellers or buyers under written contract with another REALTOR®.
Sharon Flood
REALTOR®, CLHMS, CPRES, CRS, MRP, PSA, SRS, RENE, ABR
Coldwell Banker Realty
Independently owned and operated.
Independently owned and operated.
First Last
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Coldwell Banker Realty
Independently owned and operated.
Independently owned and operated.
14469 Miramar Parkway, Miramar, FL 33027