Before a seller places their property on the market they need to have all property inspections performed before they self market or list for sale thru a Realtor.
Why Realtors do not suggest this is beyond all logic because in the long run it will always save the seller money. This short term, up front, small expense has the potential to save huge money before the transaction is complete.
Types of inspection that may be needed (NOT ALWAYS!) include general property inspection, septic inspection, well inspection, pest (bugs) inspection, radon inspection and lead paint inspection. A good general inspection company will perform most of these types of inspection under one visit and the charge is usually several hundred dollars.
The reason that performing these inspections before you seek a buyer are so important include:
- Establishment of price
- Learning the exact nature of the property
- Misrepresentations
- Avoiding price renegotiations
- Error and omissions insurance coverage
- Maintain arms length negotiations
This is not to suggest that the seller needs to repair and remedy anything that the inspection highlights as needed. The seller can make as many or as few repairs as they see fit or simply price the property accordingly. I shall explain the individual reasons in more detail in subsequent articles.
At some point in the sales process it will become inevitable these reports are performed.
It is entirely in the SELLER’S BEST INTEREST to maintain this control and have these inspections performed at their own expense. It will always save the seller money.
Most listing Realtors allow their Sellers to fall prey to the renegotiations the take place after home inspections are performed. Seller need to take away this advantage and perform all property inspection themselves before they go to market with their property. This is in the SELLER’S BEST INTEREST and will always save the seller time and aggravation.
James Joseph