Real Estate Marketing & Beyond
Property sales can fall through because of several reasons with 21% changing their mind, 14% not having an offer close to the list price or finding a less expensive home to buy, and 15% bailing out after an inspection report. Indeed, a building inspection is important because it can make or break a sale. Realty agents report reduced liability and improved buyer confidence, image and credibility when a Property Condition Assessment is undertaken. The owner and seller know the exact condition of the property in question while agents have less problems with price negotiation because the report covers an extensive review of the condition of the property. In effect, everyone benefits from a professional property inspection.
What Happens During an Inspection
The process usually takes around 2-3 hours during which the property is examined from the bottom up. For example, a home inspection will cover about 1,000 check-points in around 400 items. Findings will be reflected in a comprehensive reported together with a recommended action. It is an objective evaluation of the condition of the properly indicating defects and potential problems. What is important to remember is that a home inspection is not an appraisal nor does it constitute a warranty. It also does not detect every possible flaw.
If planning to sell a home, it is critical to do a pre-inspection because the findings can help realtors guide owners to rectify problems and shortcoming and enhance the value and marketability of the property. A home inspector will use several equipment to assist in the inspection. The most common devices they care are a flashlight and an electrical tester. They will use a respirator, dust mask, gloves, and glasses for safety. There are also other devices that inspectors use to determine conditions that cannot be validated by visual inspection. To illustrate, inspectors may opt for infrared cameras from https://spiborescopes.com/ and moisture meters that will provide valuable results. Another tool that can help are infrared thermometers enabling them to check the temperature of heating and cooling system registers.
Optional Services
Property inspections can also go beyond what is required in a standard review. Depending on the level of concerns, optional services may be requested that can be performed together with a property inspection. For example, carbon monoxide may be an issue in homes and buildings using oil and natural gas. Unfortunately, carbon monoxide can only be detected with an analyzer. Hence, it is vital that an inspection covers the presence of clear and working ventilation system to minimize the effects of gas.
Other valuable tests that could be performed include energy assessment to identify areas of energy use and waste and water analysis. Some property inspection companies may offer water analysis service and in addition to water quality, the presence of lead, bacteria, nitrates, coliforms, and other contaminants may be useful.
Selling assets can be made easier when a property inspection has been performed. Since it can detect potential issues, these can be rectified that will enhance the presentation, value, and marketing of a home or building.
Good article. I believe a pre-sale home inspection is money well spent. We had ours done by Endgame Home Inspection in Syracuse NY. Their report gave us a list of items that needed to be fixed. We did most of the repairs and hired professionals for the few bigger problems. We actually got an offer over our list price and the buyers home inspector did not find anything that buyers could use to negotiate a lower price or ask us to fix.