Listing Inspections
Posted by Jeremy Rupprecht on Wednesday, March 9, 2011
Most owners of real property do not want to have an home inspection before they list the property for sale. Reason being, they don't want to spend the extra money. Most Realtors who are involved in the transaction know that the buyer will have an Inspection performed before they buy, so they do not push the seller to have a listing inspection performed. Is this a good idea?
Well, if you have ever sold or purchased a home, you know that a good Home Inspector will find some defect on the property. I have been a licensed inspector since 2003, and have yet found the perfect home. Even in new construction. So, the seller decides to "NOT" have a listing inspection on there property and puts the home on the market. A buyer comes along and like the look of the home, new paint, new carpet, new fixtures.......... So, the buyer makes a wise decision and hires......."Professional Home Inspections" (ME) to inspect the property. Now that the inspection is complete and report has been delivered to the client, he notices many defective and/or safety issues for the property....Now what? Well the buyer makes a counter offer for a reduced price of the home, due to the issues noted on the Inspection Report. If the seller is not willing to negotiate, the buyer "opts-out" of the purchase and moves on to the next property.
The seller could have avoided this situation if he would have had an Property Inspection performed on the property before he listed. The seller would have known all the issues and could have avoided overpricing his home, or he could have made the repairs and kept the original listing price.
So, in the end, a small investment could possible save you thousand on your sales price. Consider the alternative, it could be the difference between a sold home or a stagnant property.
Please note: a home inspection performed by the buyer of real property is not transferable to the seller or vis versa. So waiting for an inspection to be preformed on your property does not entitle you to the written "Inspection Report". Transfer of Inspection Reports without the written consent of the client and the Inspection company is a crime. Individuals who transfer the report to individuals without consent of both parties can be sued for illegal activity.
Well, if you have ever sold or purchased a home, you know that a good Home Inspector will find some defect on the property. I have been a licensed inspector since 2003, and have yet found the perfect home. Even in new construction. So, the seller decides to "NOT" have a listing inspection on there property and puts the home on the market. A buyer comes along and like the look of the home, new paint, new carpet, new fixtures.......... So, the buyer makes a wise decision and hires......."Professional Home Inspections" (ME) to inspect the property. Now that the inspection is complete and report has been delivered to the client, he notices many defective and/or safety issues for the property....Now what? Well the buyer makes a counter offer for a reduced price of the home, due to the issues noted on the Inspection Report. If the seller is not willing to negotiate, the buyer "opts-out" of the purchase and moves on to the next property.
The seller could have avoided this situation if he would have had an Property Inspection performed on the property before he listed. The seller would have known all the issues and could have avoided overpricing his home, or he could have made the repairs and kept the original listing price.
So, in the end, a small investment could possible save you thousand on your sales price. Consider the alternative, it could be the difference between a sold home or a stagnant property.
Please note: a home inspection performed by the buyer of real property is not transferable to the seller or vis versa. So waiting for an inspection to be preformed on your property does not entitle you to the written "Inspection Report". Transfer of Inspection Reports without the written consent of the client and the Inspection company is a crime. Individuals who transfer the report to individuals without consent of both parties can be sued for illegal activity.
Tags: listing inspection
Professional Home Inspections is area owned and operated by the only Third Generation Home Inspector in the Texas Panhandle. We offer Commercial and Residential property inspections for Amarillo TX and surround areas.
