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Home inspections can uncover potential issues and risks, saving homebuyers money and hassle.
For all issues Woolf provided, he has quoted ballpark figures.
He said that actual costs can vary depending on location and severity.
Here are seven issues that can cause your house to fail a home inspection, according to Woolf.
He said that repairs can cost tens of thousands of dollars.
However, the actual cost, Woolf said, depends on the severity.
Minor cracks might be manageable, but major repairs are expensive, he said.
I might consider getting an engineers evaluation before deciding.
Most buyers would prefer a move-in-ready house with a new roof, he said.
Extensive repairs or replacements can cost thousands and pose water damage risks.
Electrical safety is crucial.
I would likely fix the system before selling, especially if its acomplete rewiring job.
Woolf said that rewiring a house can cost upwards of $20,000, depending on the size and complexity.
I would get quotes and factor the cost into the price reduction or fix it beforehand, he recommended.
Depending on the age and repairability, I might consider replacing it or offering a credit to the buyer.
If youre not planning to replace, Woolf estimates reducing the selling price by $2,000-$5,000.
Untreated infestations can lead to structural damage.
What To Do About Less Severe Issues?
But what if thehome inspection issuesarent that severe?
The goal is to find a balance between fixing major issues and maximizing profit.
Consulting a local contractor before listing will provide a clearer picture of repair costs and potential price reductions.
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