Are you viewing homes that have not had a Pre-Sale Inspection? An important discussion for you and your Real Estate Agent.
When you purchase a vehicle, you request it’s history, or “Carfax”, from the dealer or current owner. As a savvy consumer you understand the added value it brings and the benefit of having upfront details of the vehicles past and the likelihood of future repairs. A Pre-Sale Home Inspection is the same principle, but for a home which carries much higher price tag than most vehicles.
A Pre-Sale Home Inspection is an extremely valuable tool when it comes to selling a home. It validates a seller's honesty, integrity, and transparency when it comes to the property they will be listing. It allows a seller the opportunity to discover any issues that might arise during a Pre-Purchase Home Inspection, before they become an issue which can interfere with the sales process.
It also increases the marketability of a property and can help reduce the length of the sales process. The cost is typically no higher than, and in most cases lower than, the cost of a Pre-Purchase Home Inspection. It allows the seller to make any repairs on their own terms or make the decision to adjust the listing price accordingly. With as much time, money, and other resources that are spent on making a home marketable, why would you ever encounter homes that haven’t had a Pre-Sale Home Inspection? There are many reasons for this:
-Because sellers did not know it was an option
-The additional cost involved
-And, in more rare cases, because sellers realize that many issues, if known about, must be disclosed.
Even though these problems, necessary repairs, and hidden damages should be discovered through a Pre-Purchase Home Inspection, that does not happen until an offer is made and the buyers money is already paid in the form of an earnest deposit. If the seller and their agent "did not know" about existing problems, they do not have to disclose the information and it is up to your inspector to find the issues after negotiations have already began and your money has already been put down. Once an offer and earnest deposit are made a potential buyer has a limited amount of time to have an inspection and request repairs or negotiate down the price. This places a much higher burden on buyers than sellers.
Does a Pre-Sale Inspection mean I do not need my own inspection?
Not at all. Having your own Pre-Purchase Inspection following a Pre-Sale Inspection is crucial to confirming that any identified problems have been addressed and/or corrected, and that repairs that have been made were done so correctly.
So, if you or someone you know is buying a home in the near future, make sure to let your Realtor know that you only have interest in homes that can provide you with a Pre-Sale Inspection Report.