Q: I’m contemplating selling my home and I want to know what inspections I will be responsible for.
I am on a septic system, which I have emptied and cleaned every three years. How often do I have to have this done? I don’t want to do it now and then have to do it again because of the terms of a sale.
A.W., Everett
A: As the seller, you are not required to pay for any professional inspections of your home.
However, depending on the type of financing used by the buyer, there may be certain types of inspections required by the lender that are customarily paid for by the seller. Again, that doesn’t mean the seller must pay these costs.
For example, if a Federal Housing Administration appraiser is concerned about apparent damage to the home from insects or dry rot, you will typically be required to get a pest inspection prior to closing. This cost may be paid by the seller, by the buyer, or split between the two parties . It’s open to negotiation.
The same goes for the septic system. If the buyer is using a conventional loan and the appraiser does not see any irregularities (such as a sinkhole in the yard), and the home buyers are willing to sign an agreement to relieve the lender of any liability, you may not have to pay for an inspection of the septic system. However, some lenders require proof that the septic system has been pumped within that last three to five years, so again, it depends on who is providing the financing for the home buyer.
Again, that cost is usually borne by the seller, but there is no absolute requirement that this must be the case. However, keep in mind that if the buyer’s lender will not close the purchase loan without a septic inspection and the buyer refuses to pay for it, you would have to pick up the tab or lose the sale of your house to that particular buyer.
If the buyer wants a full-blown professional home inspection, that is typically considered to be a buyer’s expense.
However, sometimes sellers will pay for an inspection of their home before putting it on the market so they can accurately report any defects on the property condition report required by most real estate brokers. Over the years, there has been more and more responsibility placed on home sellers to fully disclose any known defects to prospective buyers. State law requires sellers to provide a completed property disclosure form to prospective buyers.
While many sellers are reluctant to disclose anything that might have a negative impact on their home’s value, real estate agents and attorneys have long urged full disclosure as the best defense against potential lawsuits from unhappy buyers. It’s much easier and cheaper to solve problems prior to closing than to battle it out in court after a defect is discovered. That is why some sellers choose to pay for a full inspection of their home, to eliminate any possibility that they might be accused of withholding information.
Keep in mind that most home buyers understand there is no such thing as a perfect house. This is probably the biggest investment of their lives. They want honest answers so they can make an informed decision and know what they are getting into.
I have yet to buy a house that did not have a laundry list of things wrong with it, mainly minor defects that I would have to fix within the next few years. If you know what is wrong with a house and how much it will cost to fix it, you can budget accordingly. That’s all any buyer really wants to know.
Mail your real estate questions to Steve Tytler, The Herald, P.O. Box 930, Everett, WA 98206. Fax questions to Tytler at 425-339-3435, or e-mail him at economy@heraldnet.com.
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