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.
The reason that performing these inspections before you seek a buyer are so important include:
1. Establishment of price
2. Learning the exact nature of the property
3. Misrepresentations
4. Avoiding price re-negotiations
5. Error and omissions insurance coverage
6. Maintain arms length negotiations
Reasons 1 and 2 both deal with pricing. Before a property value can be absolutely determined the owner/seller must know what he or she is actually selling. In order to learn the exact nature about your property you need to have an unbiased professional take a good look at everything about the property. Through an experienced inspector a property owner will learn the present status of the property that they may not have been aware of. This information can then be used to establish a firm basis to build a solid price upon.
Most owners tend to look at their property through rose-colored glasses. After many years or shared history and experiences sellers become emotionally attached. Who can blame them? So many of their fond memories may have occurred at this location. But what they seek to do now is to start the process of emotionally involving buyers. And one of the best ways to build trust in the property for a buyer is to educate them about the entire property. Avoid any surprises that might effect the buyers confidence at a later date.
An accurate disclosure of conditions up front is much better than surprises later on in the transaction process.
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 time aggravation and money.
James Joseph