New Index Reveals Impact of COVID-19 on Real EstateEarlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the
Sold In 6 Days But Thats Not The Whole Story
It started months ago when Jean, living in Missouri, found me online based on past sales in the neighborhood of her mother’s East Dallas home. She said it was time to sell her home in East Dallas, although currently a friend of the family was living there, but moving out soon.
The house is a brick and stone Tudor in the increasingly popular neighborhood near Knox-Henderson, just up the street from the new Kroger and L.A. Fitness center, near the proposed Sam’s Club. It’s just the cutest of houses, with original hardwood floors throughout, and updated bath with travertine tile and one of those vanities that looks like it should be a piece of furniture. One of the bedrooms had carpet over what we suspected to be a continuation of the hardwood floors (Carpet over hardwood floors is relatively common in East Dallas Homes when owners prefer not to walk on cold floors, especially now as our weather is changing, however the trend now is to expose all the wood floors, and I suspect our new owner will do exactly that.
Since it is a 1920’s Tudor home and currently tenant occupied, and Jean is the daughter of the owner, I suggested that we get the home inspected. I can tell that Jean doesn’t want to “mess” with this house, have a drawn out transaction, she seems like a no-nonsense kind of person, a trait I really appreciate.
Now we now have a professional home inspection report in hand, however there are some questions related to the report. The access to the underside of the home was restricted, and the inspector noted at least one leak, but couldn’t go into detail since the access was limited. After careful thought and getting bids, we decided to have the crawlspace excavated to allow full access to the underside of the house, allowing a person to inspect the full foundation system, and access for a plumber to make repairs.
Next came the plumber, he tested and noted the leak locations and the following week, made repairs. Lastly, the structural engineer inspected the foundation, make recommendations, repairs were made, and we were set to go. Now we didn’t clear everything off the original home inspection report, but we hit the “unknowns” and the big ticket items so negotiations would go smoothly, or as smooth as possible.
This story continues, but having the home inspection at the onset of getting ready to sell was a lifesaver for the seller and the transaction. Having the highest level of disclosure, an inspection report, put all prospective buyers on notice of the true condition of the property, not just the opinion of the owner. We took it a step further and addressed some of the concerns on the report to help facilitate negotiations and make the closing a little easier.
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