Buying A Home
ariel06
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Appraisal and Inspection:What to expect?
Is there anything we need to be doing to be ready for these as the seller? We are doing the appraisal first because the buyer is paying close to our listing price so we cover closing costs. We are working on a list of improvements that have been done. Should this list include the costs we paid for these improvements?
Re: Appraisal and Inspection:What to expect?
I would probably wait to do most "fixing" until after the inspection. When we had our inspection (as buyers) we were told that no house is perfect and they will all have some issues one way or another. As the owners, you need to be prepared to not be completely defensive or in denial about whatever comes out of the inspection - because at that time the selling price will either adjust or you will be looking at some repair bills before the closing.
Do no make repairs after you've already received an offer, though. They will negotiate that after the inspection. It's a little pre-emptive and while you might be thinking that you are fixing a huge concern, that might be money down the drain if it's not the chief concern of the inspector.
ETA: An example, I just remembered: when we purchased our house we discovered just how old the furnace was and that there was a concerning leak. Our seller thought that getting it cleaned would appease it, when we were asking for money to replace the furnace in the negotiation. That's a pretty good example of how you might think they want one thing taken care of but you might be off, so just wait until the negotiations come through after the inspection. If you have paperwork for recent work that they need-to-know (like roof, major appliances, etc.) then pass that on for sure.