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Home Inspections Aren’t Strictly for Buyers Anymore

January 21, 2015

A big trend that seems to be helping the sale of homes today is something called the pre-home inspection. Essentially, this is a home inspection that is commissioned and paid for not by the buyer, but by the seller.

It’s widely viewed as a proactive approach in which the seller lays their cards on the table by fessing up all that is wrong with their property. The thinking goes that potential buyers will see this as a benevolent and honest move, one which will pique their interest and motivate them to put in an offer. Knowing in detail about your home’s deficiencies means you are forewarned about repair costs which helps defend against unrealistic price reductions by potential buyers in the sales process. Because the owner knows in advance of potential problems, that knowledge gives the owner the chance to make repairs before buyers step into the house. The owner can show receipts for the work carried out or have the home inspection report updated to reflect the changes.

Aside from helping the seller assess the true value of the property, it can also relieve anxieties the seller might have about the property. Perhaps someone you trust told you your roof was a shambles and should be replaced immediately. That person, let’s call him cousin Todd, offered to redo the roof for a mere $2,500. A home inspection will either confirm or deny that assertion. Maybe work only needs to be done on a small section of the roof. You could save yourself thousands and tell Todd what you really think of him. In a hot real estate market such as Hamilton’s the need for sellers to provide proof that their property is sale worthy is even more imperative. Providing a recent home inspection for buyers provides a sense that the seller is upfront, open and honest. However, some buyers are inclined not to trust those inspections and, in an effort to test it, commission one of their own.

Pre-inspections are also a great tool for a seller who suspects their property may be subject to multiple offers because it lends more strength to the offer if the buyer can remove that condition.

Rob Golfi of The Golfi Team is a Sales Representative with Re/Max Escarpment Realty Inc, your real estate expert servicing the Hamilton, Stoney Creek, Grimsby and surrounding areas. You can contact Rob at robgolfi@golfiteam.com

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