When it comes to Property Inspection Reports, the quality of information about the property varies greatly.
And speaking of Free Reports, how on earth can a buyer tell if it’s valuable information, or if they are better off engaging their own inspector to do the job? But here’s the crazy part: Buyers will take a free report (because it’s free), and even if they can’t ask questions or have concerns about the report’s independence, they won’t be prepared to pay anything to get better support.
Let’s put this into perspective.
Have you ever downloaded an app for your phone?
If you have, stats suggest that most of these will be free apps (the really popular ones tend to be). You may have also downloaded a few paid apps, but most people do this only if the app is going to be ultra-useful to them on a daily basis. Usually the paid version of an app offers an ad-free environment and better functionality for only a dollar or two, but most people choose not to pay anything.
So if there is better function and value in a low-cost paid version of something, why so many people are still lured in by the free one? Because a couple of dollars seems like a fortune compared to free!
It’s vital that Property Buyers thoroughly check out a property before they buy. And we know the cost of Property Inspection Reports can really add up. Some Sellers and Agents think it’s a good idea to commission a report (usually paid for by the vendor) and then give it out to all interested buyers. But this practice will almost guarantee not to help anyone. And here’s why:
7 Reasons Why Free Property Inspection Reports from Agents don’t help Buyers or Sellers
- Buyers are receiving zero follow-up service because the inspector has no incentive to talk to them.
- This leads to low confidence in the report and, in turn, to poorer buying experience.
- Your vendor will miss out on potential buyers who would have otherwise obtained a quality report directly from the provider and received quality support.
- Buyers are also not covered by the inspector’s insurance.
- This exposes you and your vendor to a legal action if there was a mistake in the report.
- This also encourages low quality reports as the inspector is not held liable for anything.
- If new information comes to light, the inspection report will not be updated because there is no incentive for the inspector to do so.
Ironically, Property Agents often justify their high commission rates because of their professionalism and service levels. But then they offer a poor substitute for property due diligence without any thought about professionalism or service to their customers.
What are the features of a Quality Property Inspection Service?
- Don’t decide purely on price. Inspections aren’t cheap, but be careful about choosing based on price only. Keep in mind that you usually get what you pay for.
- Check whether the inspector has current qualifications and current professional indemnity insurance. Ask for proof of a builder’s license or related qualification and a certificate of currency for insurance.
- Find out how long they have been doing inspections. It is always best to deal with someone with a decent amount of inspection experience.
- Make sure you can follow up with the inspector with any questions about their report and so can buyers.
- Confirm how you and buyers can access the report and follow-up service? Is it instant access online or any other alternative?
Some things should be free… like apps. And some things cost more, for good reason. But that doesn’t mean it needs to cost a fortune. EYEON Property Inspections offers a great service that help both buyers and sellers. And it is easy to arrange.Request an Inspection Now
The EYEON Property Inspections Team
At EYEON Property Inspections, we help you buy and sell with more confidence.