| Seller Inspections: Streamlining Real Estate Transactions | « Back To Articles |
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Seller inspections (sometimes referred to as pre-listing inspections) are becoming more popular because they virtually eliminate all the pitfalls and hassles associated with waiting to do the inspections until a buyer is found. In many ways, waiting to schedule inspections until after a home goes under agreement, is too late. Seller inspections are arranged and paid for by the seller, usually just before the home goes on the market. The seller is the inspector's client. The inspector works for the seller and generates a report for the seller. The seller then typically makes multiple copies of the report and shares them with potential buyers that tour the home for sale. Seller inspections are a benefit to all parties in a real estate transaction. They are a win-win-win-win. Home inspectors should consider offering seller inspections and marketing this service to local listing agents. Advantages to the home inspector: Seller inspections allow the inspector to catch inspection jobs upstream, ahead of real estate transactions and the competition. Seller inspections are easier to schedule and are not under the time constraints of sales agreement's inspection contingencies. Working for sellers is typically less stressful than working for buyers about to make the purchase of their lifetimes. Sellers can alert the inspector to problems that should be included in the report, answer questions about their homes, and provide seller's disclosure statements. Repairs of problems found during seller inspections often necessitate the need for re-inspections by the inspector. Seller inspections put a sample copy of the inspector's product, the report, in the hands of many potential buyers who will need a local inspector soon. Seller inspections put a sample copy of the inspector's product, the report, in the hands of many local buyer's agents that tour the home. The inspector is credited, in part, with the smoothness of the real estate transaction by buyer, seller and agents on both sides. The liability of the inspector is reduced by putting more time between the date of the inspection and the move-in date of the buyers. The liability of the inspector is reduced because the inspector's clients are not buying the properties inspected, but rather moving out of them. The buyer might insist on hiring the seller's inspector to produce a fresh report since the seller's inspector is already familiar with the home. Seller inspections provide inspectors opportunities to showoff their services to listing agents. Seller inspections provide examples to the listing agent of each home, which might encourage those agents to have other listings pre-inspected by the inspector. Most sellers are local buyers and so many sellers hire the inspector again to inspect the homes they are moving to. Advantages to the seller: The seller can choose a certified NACHI inspector rather than be at the mercy of the buyer's choice of inspector. The seller can schedule the inspections at the seller's convenience. It might alert the seller of any items of immediate personal concern, such as radon gas or active termite infestation. The seller can assist the inspector during the inspection, something normally not done during a buyer's inspection. The seller can have the inspector correct any misstatements in the inspection report before it is generated. The report can help the seller realistically price the home if problems exist. The report can help the seller substantiate a higher asking price if problems don't exist or have been corrected. A seller inspection reveals problems ahead of time which: might make the home show better. gives the seller time to make repairs and shop for competitive contractors. permits the seller to attach repair estimates or paid invoices to the inspection report. removes over-inflated buyer procured estimates from the negotiation table. The report might< |
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