By Barbara Lehrer
Real Talk
Barbara Lehrer
Contrary to what a homeowner may think, having a “physical” done on your property before you list it can make you feel more confident in the price you are asking and the terms you will settle on. A potential buyer will feel the same way when they are aware that a professional has already reviewed the home.
There are often surprises when an inspector starts evaluating a home, and many sellers tend to shy away from the process of pre-inspecting because they do not want to open a can of worms. But why not? Doing the inspection up front gives the homeowner the time to decide which problems to address, the budget for these expenses and decide how to market their home, which with some existing issues may be sold “as is.”
Most homes in our area are about 60 years old on average. It is no wonder then that defects may be found. By offering up materials that disclose the state of the building, both buyer and seller can move forward feeling there is a good understanding between them. Granted, each buyer will also host his own inspection. But that will only give them more ability to research any issues found by either inspection that have been pointed out.
Recently, a pre-inspection on a septic system for a seller I was working with saved a lot of confusion. The system had been redone previously, but the health department records listed a design that was not accurate when we opened the tank. It turned out that the owner at that time had three bids for the one design and used an alternative estimate than the one on file, which is perfectly fine. We located the proper permit and the vendor’s plan that was actually used. It prevented what could have been an issue for a potential buyer, as many buyers are not savvy on septic systems and therefore worry about any work needed on them in the future.
The seller who does a pre-inspection can be forthcoming about what they are not willing to give credits for, and the buyer goes into the transaction feeling there is transparency. Protecting the transaction is what this is all about. There is now a joint effort between a conscientious seller and a serious buyer. This helps build the most important aspect of a sale: trust.
No one likes negotiations, so an accurate disclosure can speed up the process, cast away doubts the buyer may have and give the seller and the buyer a realistic overall view of the building. The network of buying and selling real estate starts with a home inspection for a reason. It sets the stage and is often the deciding factor on moving forward. This system must be based on honesty and disclosure, taking away any unknown risks and justifying the bottom line as fair to all parties involved.