Buying and Selling Even though building and pest inspections are usually the responsibility of the buyer, there are real advantages to getting a report before starting your sale campaign. Here are 5 reasons why:
1. It can save money and provide peace of mind
Starting out with a report provides certainty that you have eliminated the risk of a potential buyer being scared away by an unfavourable inspection report after they’ve made an acceptable verbal offer.
2. It can close the sale faster
If a buyer is excited about the property and wants to buy it, then closing the deal is the next logical step. If the building and pest inspections have been done and any required repairs have been taken care of, the buyer may proceed immediately and seamlessly. However, if the first inspection done on the home reveals issues, they can seriously affect the negotiation process, or leave a buyer feeling they have been duped and that they’d be better off just looking for a problem-free property.
3. It can give you a competitive edge
In a competitive property market, any small thing you can do that makes you stand out from the competition will make a difference. Being able to validate the ‘all clear’ on the building and pest inspection not only makes your property more attractive because there is one less thing for them to worry about. It also helps your salability too, by showing you have addressed the important issues and can offer an extra perk – a clear building and pest inspection. So, you’ll be marketing your home as an honest and transparent seller; one that buyers may be more attracted to, rather than a home seller who has not laid all of their cards on the table, so to speak.
4. The underlying issues could be deal breakers
Until you get a building and pest inspection, you have no idea what issues may be lurking in your property. There may be huge problems that could delay your sale while they are resolved, or tiny issues that you can take care of quickly and economically.
5. Those issues could lose you money or worse – the entire sale!
You never want an opportunity for buyers to negotiate down in price. Sure, building and pest inspections are ultimately the responsibility of the buyer, but if you choose the position of ‘it’s not my problem’ it may very well become your problem later as a result.