You have bought a foreclosed home for investment and plan to sell it for a profit. And since it is your first venture into the real estate business, you want to speed up the sale of the property.
One thing that will ensure a speedy sale is to avail of home inspection services. You can attract more potential buyers if you can show them a home inspection report.
But before calling a home inspection company, make your own assessment of the house’s condition and if you can, do some necessary repairs.
Here is a home inspection checklist that you can do for yourself:
Leaking pipes and clogged sinks are some problems that could easily turn off a potential buyer. An immediate repair is needed if you happen to see these problems. Remember, water from a leaking pipe could also damage other structures and systems of the house.
Fix those leaking pipes and remove clogs to avoid water damage. It is expected that a home inspector will turn on several faucets and flush toilets to check water pressure.
It is possible that the inspector will also perform tests on the septic system to check if there is a drainage problem.
Substandard or insufficient electrical systems
Make sure that the circuit breaker and electrical panel configurations meet the property’s system requirements. Check for overloaded circuit. A typical home requires a 125 amplitude electric service panel.
Check if the ground fault circuit interrupters (GCFI) in kitchens and bathrooms are not defective. An inspector will most likely check if these GFCIs are functioning properly.
Other systems that you can expect to be checked if they are functioning properly are the cooling and heating system, smoke detectors and appliances. The foundation and structure are parts of the house that will surely receive a closer look from the home inspector.
If you want the house to be sold immediately and recover your investment with a sizable profit, do not hesitate to pull all the stops to get it in good condition.
Leticia Carvalho has been educated in the finer points of the foreclosure market over 5 years.