Why this type of inspection can save you time and money?
Home Inspection Tips
By Art Cortez
Building Inspector and Consultant
Why this type of inspection can save you time and money?
Counter proposals, haggling, unknown issues and sometimes rejection by both buyer and the seller are very frustrating and can be totally time demanding and money consuming. There are many ways to figure out how to save both time and money and here is a simple tip that usually cannot be found in many books especially when planning to put your house on sale. Most home sellers don’t realize the importance of knowing what may be unpredictable when an offer is presented and accepted. Surprisingly unknown to seller or even the realtor, the inspection revealed flaws and the buyer simply walked away. That’s really bad. So, how will you keep both seller and buyer to come up win/win situation even problems were known?
Do pre-sale inspection! Yes! Home seller’s think a pre-sale inspection is an extra cost and will likely just wait for a qualified buyer who will typically get his own inspection. If a thorough inspection prior to sale of a property is performed, you’re way ahead putting yourself in a better position to save time and money.
Here are the scenarios - A buyer has three options after inspection is performed: buy, walk away or negotiate on repairs that need to be addressed. Sometimes the cost of repairs can be factored to allow seller and buyer to mutually agree on the final price. The seller can also choose to do the repairs and improve the property or leave it as is, or declare them and make it known to the buyer.
When the repairs are known in advance, the buyer will no longer be surprised and understands there is not enough room for negotiation. The seller will be in strong position to understand the true condition of the property and come up with a better idea what price would be acceptable before the house is put on sale.
Every transaction demands time and money to reach a goal. Without proper execution, you might lose both. A pre-sale inspection is always a wise decision to do even buyers will do their own due diligence. It’s always a win/win/win situation for buyer/realtor/seller.
Statements written above are expressed opinion only and do not represent legal or technical advice. Please contact your local municipality or consult a specialist for additional information.
Art Cortez provides professional home and building inspection for over ten years now and covers Montreal region and surrounding municipalities. For inspection booking, consulting and/or inquiries, you can contact us anytime at 514.862.9912 or
Visit our website www.cortezgroup.ca/inspection.php for more details.
In : Inspection Tips