Getting a property inspection done before sale is becoming a more common practice among property sellers.
And it is a really clever thing to do, especially in the current market conditions. But are you getting the most value out of your property inspection?
In this article, we discuss some of the benefits of a quality pre-sale property inspection service that you should be taking advantage of.
It is important to note that not all inspection services are the same quality. There are cheaper property inspections and there are more expensive ones. And in most cases, you really do get what you pay for.
1. Fix Issues
Inspection reports are there to let buyers know whether the property is okay. By having access to the report, you become aware of any potential issues upfront and can fix things up. This can result in a better outcome for you and for the buyers, as property with less problems will be more attractive.
A good inspector will require evidence that the defect has been fixed properly (usually an invoice or a photo) before updating the report.
2. Is Anything Missing?
This is especially valuable when it comes to Strata Records Inspections. Strata Records aren’t always great, and we explain why here. In some cases, the seller of the property has information that doesn’t form part of the official records of the Strata Plan: this could be minutes to meetings, quotes or important correspondence regarding your property. By having access to the report, you will be able to identify any information gaps and may be able to provide the inspector with additional documents to be included in the Strata Report. This, again, will make your property more marketable as there are less question marks.
3. Get Your Questions Answered
Buyers are not builders or strata professionals. And neither are you. If you have any questions when reading an inspection report – call the inspector! By properly understanding issues affecting your property, you will get a better sense of the condition of your home and will be more confident about the likely outcome.
It’s also a good opportunity to clarify any factual assumptions the inspector might have made at the property.
4. Show it to Your Agent
Make sure you show the report to your real estate agent. This will help them become aware of any negative and positive aspects of the property that are, otherwise, unseen to the buyer, and adjust the marketing campaign accordingly.
This also means the agent will be in a better position to address buyers’ concerns and won’t look like they don’t know what they are selling.
5. Get Rid of Red Herrings
Temptation is to give away an inspection report you have paid for. But don’t be fooled: free reports don’t guarantee genuinely interested buyers. In fact, buyers generally don’t trust information given to them by agents, especially if it’s just a report with no follow-up support. And in most cases, buyers are required to pay a fee to be able to ask questions, which leaves them frustrated with the experience.
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The EYEON Property Inspections Team
At EYEON Property Inspections, we help you buy and sell with more confidence.