Buyers routinely have property inspections performed for obvious reasons, but why are pre-sale property inspections also important for sellers?
Building and pest inspections allow sellers to uncover any issues with their property. Whether it is mould, leaking pipes, pests and termites, issues with electrical wiring, or water damage, property inspections give you a clear picture of your property. As a result, it can set the basis for a more successful sale.
These are five of the most important reasons sellers should have property inspections done before listing their property:
1. Attracts more buyers
One of the most important reasons sellers should have their property inspected is certainty for the buyers. It gives buyers a comprehensive statement on the general condition of your property. Prospective buyers can be confident your property is free of issues like significant building problems, pest issues, or hazards. Alternatively, they can be sure any issues have been assessed and recorded in a full report. They can proceed with the sale knowing they won’t be blindsided by unexpected discoveries. This can accelerate the deal process as you can have issues rectified beforehand and avoid delays and setbacks during the negotiation process when the buyer’s checks reveal unexpected problems.
2. Understand the current condition of the property
Property inspections give you, the seller, an accurate understanding of the condition of your property. These checks can identify minor to major issues, including small cracks and drainage issues that can be easily rectified now to prevent escalation. By getting a professional assessment of your property, you can correct any issues right away. You will also have better leverage during price negotiations, as you can back up your claims about the condition of your property with authoritative opinions from experts. Finally, knowing the true condition of your property also gives you a better basis for determining its value, for an accurate valuation and a realistic expectation on the asking price.
3. Predict future costs
Getting your property comprehensively inspected before sale allows you to predict future costs with accuracy. For example, you might be planning to replace various systems like piping and plumbing, heating and cooling, or electrical wiring. Alternatively, you might like to have them assessed for wear and tear and likely replacement time frame. This information can help you during the selling and negotiation process, as you can claim with confidence these systems are still in good working condition.
4. Set your expectations
You will want to go into the sale with a correct, accurate perspective of the value of your property. Property inspection reports reveal hidden factors that affect the value of your property. With comprehensive reports in hand, you can set your own expectations around the price and sale of the house with confidence. This can set the basis for easier, expedited negotiations where both you and the buyer are on the same page.
5. Peace of mind
Having property inspections carried out by professionals before you sell gives you peace of mind. They provide you with detailed, critical information on the “health” status of your property and its systems, from the air conditioning to plumbing. For example, structurally sound properties in good condition attract higher value. If your inspection comes back all clear, you can advertise your property and transact with the confidence that prospective buyers won't find an issue later. This could turn away buyers or allow them to negotiate the price downwards.
We’re here to help
Having property inspections performed before listing provides you, the seller, with a lot of advantages. You will go into the sale armed with a realistic take on your property’s condition and its market value.
Our team is always ready to assist you, whether with obtaining the necessary pre-sale property inspections or any sale-related queries you might have about a successful sale for your property. So, are you ready to sell your property with the guidance from our award-winning team? Contact us today.
