No Surprises: Surviving the Home Inspection

Dear Pat,
Our house sold fairly soon after we put it on the market, but the buyer's home inspection wrecked the deal. After three hours the inspector had assembled a huge list of concerns and the buyers walked away. We bought this old house without an inspection, and maybe it could be in better shape, but we've been comfortable here for 15 years without any problems. Next time, how do we avoid getting . . .
--Burned

Dear Burned,
You have my sympathies. Nothing infuriates me more than being at the mercy of an over-zealous inspector who lacks the ability to put an older home's flaws in perspective for the buyer. Unfortunately, when the paid "expert" states an opinion, it's all too easy for a buyer to accept it as gospel, even if that opinion is based on limited real-world experience. But I don't mean to condemn the breed--most inspectors I've met are pretty savvy about the issues we face with our older housing stock, and know how to inform buyers without scaring them.

Let's look at ways you can sidestep the pain next time, Burned. First, find out what's wrong with your house. Ask the selling agent for a copy of the deal-killing inspection report. Or you may want to get your own inspection by a reputable professional. (Be aware that a Minneapolis Truth-in-Sale-of Housing report is not complete enough to give you the information you need.) Some sellers get home inspections prior to going on the market, and have the full inspection report available to any prospective buyer--although buyers might want their own inspection anyway.    

Now you have your work-list, and, we hope, some good advice from your inspector about ways to address the problems he/she has found. Use your Realtor to help set priorities: spend what you can affort to fix the most important items, adjust your expectations of eventual sale proceeds for the rest. Remember, there is no such thing as a fatal house flaw--a big problem might scare away some buyers, but others will take on the challenge if the price or seller concessions make it possible. The key for you, Burned, is to know the potential stumbling blocks before you sell. No surprises.