A pre-sale home inspection should be undertaken by Sellers. It is done, before the property is put on the market for sale.
Opting out of a building inspection may seem tempting on the surface when the sellers think of saving a few thousand rupees, but
- Making sure the property you are selling is healthy & safe often requires only minor in-expensive repairs which are deemed absolutely essential.
- Also from an aesthetic point of view, the seller must present a home which is beautifully maintained, attention is given to details and upkeep.
Hence, from a careful evaluation of the condition of the property to ensuring an effective and smooth closure, a pre-sale home inspection, serves as a foundation for concluding a hassle free sales transaction.
There are many good reasons why you should get a building inspection report done before you sell a property. Here are just a few well worth considering.
Know what you are selling
There can be nasty surprises lurking behind the walls, in the plumbing lines or under the floors. Hence, it could be argued that the process can be even more stressful for sellers than buyers, who will either find
themselves having to re-list their property or be asked to cover expensive repairs even if they weren’t aware of them prior to closing their sale. As a home seller, the first thing you need to do is provide potential buyers with a list of any known issues / inspection report of the home you are selling. These will make the buyer develop faith in you, believe that you are being transparent and there is nothing to hide. Failure to disclose known defects could put the seller at risk of losing the sale. So hiding ANYTHING is not a wise idea, ever.
Save your valuable time and money
If a seller is ready with a pre-sale inspected home then it will save seller’s valuable time. Or else, the buyer will get it inspected in his/her sweet time, and then will ask the seller to repair any issues found etc.The whole process will take a much longer time than expected. Then the repairing issues will also crop in which will be subject to negotiations on both parties in terms of money. If the seller conducts an inspection before listing the home then it gives the seller the time to make repairs beforehand at a nominal cost.On the other hand, if the inspection is done by the buyer, the seller will be rushed into making somedecisions because the seller is concerned with sealing the deal with the potential buyer. When this happens,the seller won’t have enough time to consider all his/her options and find solutions for his/her problems at a reasonable price. All these can be avoided when the inspection is done before the seller negotiates with any potential buyer.
Setting an appropriate asking price
Having a completed inspection report from a certified inspector will help the seller arrive at a realistic list price and may be premium as well. The major advantage of conducting your own home inspection is that you can retain control of the selling and negotiation process. By identifying problems early and on your own terms, you can fix them to your financial advantage.
Expedites the entire process & limiting liability
If home inspection has been performed, full disclosure has been made, which eliminates the possibility of future legal action for non-disclosure. This often speeds up the sale of the home and certainly limits the
seller’s liability. The fewer deficiencies, the better the report on the home you wish to sell. Also why spend that extra time? Your thoroughness in testing beforehand is sure to expedite the whole process.
To have a competitive edge over others
The seller can potentially sell the home for more money. If you are able to produce an inspection report that certifies your house as issue-free and without need for any major maintenance, this will help attract buyers. This may save the buyer the cost of arranging their own inspection, and helps ensure an overall smoother closing process. Buyers will have greater confidence in making an offer on your property, because they will have an official document and comfort from an unbiased third party certifying its true condition and value. You, the sellers can remain stress free.
The most successful and stress free property sales involve a Seller who knows exactly what he/she is selling and a Buyer who knows exactly what they are buying!