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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 their large rear deck was dry-rot infested, so they
replaced it before putting their home on the market.
The Smiths also called a reputable roofer to examine the roof and
issue a report on its condition. The roofer felt that the roof was
on its last legs and that it should be replaced. The Smith's didn't
want buyers to be put off by a bad roof, so they had the roof
replaced and the exterior painted before they marketed the home.
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 drainage work. According to a drainage contractor,
the job would cost in excess of $20,000. Fred Smith was particularly
distraught because he'd paid to have corrective drainage work done
several years ago.
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.
What happened to the Smiths is typical of what can happen over time
with older homes. The drainage work that was completed years ago was
probably adequate at the time. But since then, there had been
unprecedented rains in the area, which caused flooding in many
basements. Drainage technology had advanced. New technology can be
more expensive but often does a better job.
cont. next page >
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