Building inspections can in some instances be one of the biggest hurdles for buyers and sellers.
Everyone holds their breath during the inspection process in hopes that there are no significant problems found with the home. Navigating inspections and repairs can be a slippery affair, but if everyone remains level-headed and fair, the process can be smooth.
It is always a good idea for a seller to have their home inspected prior to putting it on the market, even though most sellers don’t want to pay that additional expense. Depending on the size of the home, you can have building and pest inspections for $650 or less. While that seems like a reasonable sum, when it comes to negotiating the price, it’s nothing.
By having the home fully inspected you know the outcome of the buyer’s inspections, and you’ll already be ahead of the game. It allows you to uncover any potential issues, gives you time to have them repaired as you choose and the buyer will never know there was a problem. When a buyer purchases a home that has a flaw, that flaw is always in the back of the buyer’s mind. If they never knew it was there, it can never haunt them. Security in knowing they purchased a home that was in good repair and had been taken care of is priceless for most buyers.
Confidence translates into negotiating power. Many people who have negotiated down to their bottom dollar especially fear inspections because they know they cannot afford to pay for any repairs, and when sellers will not make repairs, deals can often fall apart.
For a buyer who is facing a building inspection, it is equally as fearful. They don’t want a reason to walk away from their dream home. They certainly don’t want to pay out several hundred dollars in building inspections on a home they are not going to buy just to have to pay for them again at another house.
Most buyers are not looking for reasons to walk away, but the REIWA offer to purchase contract building inspection annexure gives them an opportunity to terminate a contract if they choose to do so if structural issues are found
Buying and selling a home is stressful enough; one way to curb some of the stress for both parties is to have the appropriate inspections done and repairs made prior to the home going on the market. Will the buyers still have inspections? More than likely, but both parties will stress less about the entire process and it will go much smoother — isn’t that what we all want?
Houspect: Buy, Build and Invest with Confidence
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