Repair Pricer Reveals Thousands of Dollars in Unidentified Costs in Homes for Sale Nationwide

Repair
Pricer, the industry standard for converting home inspection reports
into accurate repair estimates during the complex home purchasing
process, today released its findings on the most common home
deficiencies—and associated costs—in homes for sale nationwide.

The report uncovered more than 1 million repairs needed across 50,000
home inspection reports, with the average home requiring more than
$11,000 in repair costs. Key findings from the report include:

• Nearly 55 percent of homes studied contained doors that needed
  adjusting, a strong indicator of foundation issues.
• More than 54 percent of homes studied lacked exterior caulking and
  sealant, leaving them highly susceptible to extensive water damage.
• About 48 percent of homes lacked GFCI protection, leaving homeowners
  susceptible to electrocution, especially in water-prone areas like
  kitchens or bathrooms.
• The five most expensive home defects—ranging from slightly more than
  $1,000 to just less than $10,000 in average repair or replacement
  cost—were identified in 9 to 20 percent of homes studied.

“Homebuyers and realtors across the country should leverage these
insights to better position themselves in the stressful negotiation
process,” said Christian Adams, CEO of Repair Pricer. “In places like
Texas, for example, buyers may only be given three to five days to
complete the entire inspection period, meaning they may only have 24
hours or less to make a decision. During this period, having clarity and
insight into the cost of repairs listed in a home inspection report is
critical to avoid leaving money on the table.”

Historically, the industry has lacked a standard or process for
estimating repair costs, which has been a detriment to realtors,
homebuyers, sellers and inspectors. With Repair Pricer, homebuyers and
realtors receive repair estimates that are 98 percent accurate in 24
hours or less.

To learn more about Repair Pricer, visit www.repairpricer.com.
To view the full report, click here.

Methodology

The report’s insights are yielded from an analysis of 50,000 home
inspection reports performed by inspectors on homes previously for sale
throughout the United States in 2018. Repair Pricer’s proprietary
pricing software utilizes real-time quotes from contractors, rolling
market surveys as well as regular feedback from more than 300 preferred
partners, including realtors, inspectors, homebuyers and others to
maintain 98 percent pricing accuracy.

About Repair Pricer

Repair Pricer is the industry standard for converting inspection reports
into accurate repair estimates during the complex home purchasing
process, enabling homebuyers and their realtors to act quickly and
confidently during the critical home inspection period. Headquartered in
Dallas, Repair Pricer saves time for both the buyer and seller when it
matters most, reduces realtor and inspector liability and helps realtors
and inspectors scale while providing the best homebuying experience for
prospective homeowners. To learn more about Repair Pricer, visit www.repairpricer.com.

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