Reasons a seller would get their home inspected
Published on October 15, 2019
Usually, buyers are the ones who call on the services of a building inspector. While not mandatory or frequently done, there are certain advantages to the seller investing in an inspection.
As the owner, the inspection report lets you know what condition your property is in and whether there are any small problems to fix before putting the house on the market. Also, you won’t be caught off guard if the inspection the buyer requests turns up some defects.
In fact, an inspection can complement an appraisal or comparative market analysis, which help determine your property’s value in relation to other properties on the market. An inspector will check the property for major defects, but cannot give an opinion about its value. Knowing that a property’s condition affects its value, you’ll have all the information you need to set an asking price that is both fair and competitive.
Be prepared for negotiations
If you know your property’s flaws and take them into account when setting your asking price, the buyer will have more difficulty using these arguments to get you to reduce the price. Remember that buyers usually use the defects they observe to justify making an offer below the asking price.
Do the necessary repairs
If the inspection report reveals any issues, you can choose to take care of them before putting your house up for sale. This way, you’ll have a better product, and the defects won’t become irritants for visitors. And given that a well-maintained home attracts a larger number of potential buyers, doing the work can help you get the price you were hoping for, in the desired timeframe.
Give the buyer a clear picture
Knowing that a house is in good condition makes visitors feel more confident about buying. Potential buyers want to be reassured, so they ask a lot of questions. As the owner, you are the one who best knows your house and are best placed to answer them. In addition to helping you fill out the Declaration of the Seller, the inspection report will support what you tell potential buyers.
In conclusion, taking the initiative of having your home inspected will not keep a buyer from making an offer that is conditional on an inspection conducted by the building inspector of their choice. But you will be able to proceed with assurance, knowing there won’t be any unpleasant surprises.