June and Fred Smith were diligent about getting their home ready for sale. They ordered a pre-sale termite inspection report. The report revealed that some of the window sills was dry-rot infested, so they replaced it before putting their home on the market.
The Smith's home was attractive, well-maintained and priced right for the market. It received multiple offers the first week it was listed for sale.
But the buyers' inspection report indicated that the house was in serious need of a new furnace. According to a heating contractor, a new furnace and installation would cost in excess of $8,000.
First-Time Tip: If you get an alarming inspection report on a home you're buying or selling, don't panic. Until you see the whole picture clearly, you're not in a position to determine whether you have a major problem to deal with or not.
The Smiths considered calling in a heating expert to see if the work could be done for less. After studying the buyers' inspection report, the furnace contractor's proposal and the buyers' offer to split the cost of the work 50-50 with the sellers, the Smiths concluded that they had a fair deal.
The solution is not always this easy, especially when contractors can't agree. Keep in mind that there is an element of subjectivity involved in the inspection process. For example, two contractors might disagree on the remedy for a dry-rotted window: one calling for repair and the other for replacement.
In Closing: Sometimes finding the right expert to give an opinion on a suspected house problem is the answer, but it is always good to get two opinions.
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