Pre-Sale Building And Pest Inspections
Inspections can help identify issues that could have a direct impact on the sale of your property and knowing this up front is important. An inspection can reveal issues that you may be unaware of, such as rodents, leaky pipes, loose roof tiles, issues with your foundation or electrical wiring. Although many of these issues may not be serious, they can have an impact on the sale price and how many buyers are keen to purchase your property.
Here’s a deep dive into why a pre-sale inspection is a must have when selling.
More control over the negotiation processA pre-sales inspection conducted before your property is opened for viewing, gives you more control of the selling and negotiation process.
The last thing you want as a seller is for a buyer to produce their own building and pest report highlighting major issues with your property when you’re part way through the sales campaign. This can have a direct impact on the sale, can result in buyers losing interest and can effect the price you are able to sell your property for.
Additionally, if you’re forced to repair issues on the buyer’s terms, you may find you’re paying more as they will often try to increase these costs to their benefit. The power of negotiation shifts dramatically to the buyer, which is not ideal.
You can quickly address ‘fixable’ issuesAn inspection can identify issues that you may be unaware of. These can be minor like a leaking drain pipe or loose roof tiles, but can be more serious, such as structural problems and termite infestations.
If you’re aware of these issues early on, you can quickly address the fixable issues and be in a better position to discuss the larger issues should they arise with a potential buyer. Having this knowledge early on can make a big difference to the successful sale of your property.
Attract more buyersUnless a buyer is looking for a fixer-upper, being able to produce a certified report showing your property is ‘issue free’ will help attract more serious buyers.
Although there is a small cost to sourcing a pre-inspection building and pest report, it means buyers don’t need to budget for repairs and maintenance and therefore may be more inclined to offer more. It can also help differentiate your property from others on the market, particularly if they in turn have building or pest issues.
On top of that, it’s generally a condition of getting a home loan that the property undergoes a building inspection, so to be able to provide an independently assessed, official report can firstly save the buyers money as they don’t have to pay for one themselves, but most importantly for you, it can help ensure the settlement process runs more smoothly, and after all a smooth sale is what everyone’s after.
Peace of mindIn many cases a property inspection will come back with no major issues, so whilst you’ve paid to have this report produced, you now have peace of mind that a buyer isn’t going to come to you at the last minute highlighting a significant issue with your property; one that can impact the sale or affect the price.
If the report does highlight an issue, you can address the fixable ones quickly and be prepared to discuss any more serious problems if they arise. Being in a strong position when selling and negotiating is important and in this case knowledge is key.
Transparent sales processIf you’ve had pest issues in the past and have professionally treated the property, notifying your agent, and ideally providing them the relevant documentation and warranty for the work, can ensure your agent is equipped to answer questions from potential buyers and appease any concerns they may have. The more information your agent has regarding your property ensures they are in a stronger position to negotiate a successful sale for you.
A final word….
Inspections are an important step when buying or selling a property and a worthwhile investment for both parties. It’s a good idea to talk to your agent about who they would recommend using.
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