Professional Inspection prior to listing
April 13, 2007
In our real estate market area, the professional home inspection usually takes places after a purchase agreement has been negotiated and an offer accepted. The Buyer then hires the inspector. The buyer and the buyer's agent receive copies of the inspection report and a good inspector will also furnish copies of the report to the seller and the seller's agent.
At Century 21 Lois Lauer Realty, we suggest that a home owner considering listing a property, get a "pre-listing professional inspection. We are not suggesting that the buyer will not want to hire an inspector as well, but rather that the pre-listing inspection will alert the seller to any hidden problems. If a serious problem is detected and the seller cannot afford to repair or replace an item, by knowing of its existence prior to negotiating an offer, the cost can be taken into the bottom line consideration.
An example of why a seller's pre-listing professional inspection can be a good thing is the following:
A rental property was listed by a seller who had never occupied the property. The seller followed the agent's advice and had a professional property inspection done on the property.
The inspector found the furnace to be in good condition. However, the buyer's inspector said the furnace was dangerous and defective. (This inspector was a retired contractor not a member of a professional inspector's organisation such as referred to in yesterday's blog,)
To resolve the conflict between the two inspection reports, the seller arranged to have a furnace repairman and a representative of the local gas company inspect the furnace. The buyer, the seller and their respective agents attended the inspection. Both the repairman and the gas company employee agreed that there was nothing wrong with the furnace and the sale closed without further dispute.
This example is just one illustration of the benefit of a pre-listing inspection.
In our real estate market area, the professional home inspection usually takes places after a purchase agreement has been negotiated and an offer accepted. The Buyer then hires the inspector. The buyer and the buyer's agent receive copies of the inspection report and a good inspector will also furnish copies of the report to the seller and the seller's agent.
At Century 21 Lois Lauer Realty, we suggest that a home owner considering listing a property, get a "pre-listing professional inspection. We are not suggesting that the buyer will not want to hire an inspector as well, but rather that the pre-listing inspection will alert the seller to any hidden problems. If a serious problem is detected and the seller cannot afford to repair or replace an item, by knowing of its existence prior to negotiating an offer, the cost can be taken into the bottom line consideration.
An example of why a seller's pre-listing professional inspection can be a good thing is the following:
A rental property was listed by a seller who had never occupied the property. The seller followed the agent's advice and had a professional property inspection done on the property.
The inspector found the furnace to be in good condition. However, the buyer's inspector said the furnace was dangerous and defective. (This inspector was a retired contractor not a member of a professional inspector's organisation such as referred to in yesterday's blog,)
To resolve the conflict between the two inspection reports, the seller arranged to have a furnace repairman and a representative of the local gas company inspect the furnace. The buyer, the seller and their respective agents attended the inspection. Both the repairman and the gas company employee agreed that there was nothing wrong with the furnace and the sale closed without further dispute.
This example is just one illustration of the benefit of a pre-listing inspection.
posted by shirley harry at 8:32 AM
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