by Steve Vacha
Like many, the home inspection industry was caught off guard by the pandemic and all that has transpired because of it. We did not have in place inspection as many options as we do now to help buyers and sellers due to lack of inventory and high demand from buyers.
The Real Estate market in our area, has never seen such a sellers’ market. When sellers have multiple offers to choose from, why choose one with a home inspection? I would like to address this question.
Inspections bring clarity to the sale for both the seller and buyer. It is obvious why the buyer would want clarity, but what about the seller?
Sellers’s pre-listing inspections, really help them to sell a property for the best price in a bidding market. A pre-listing inspection enables buyers to make their best offer, not having to hold back for fear of the unforeseen. Also, being proactive with a pre-listing inspection, a seller can complete some repairs themselves or at least gather estimates for repair or replacement so buyers do not overestimate the cost of discovered deficiencies.
Some sellers are afraid of being nickel-and-dimed for repairs. For these sellers we have developed the Pre-listing Major Components Inspection. This inspection only covers the major systems of the house, reducing the chance of buyers focusing on the minor issues.
Pre-listing inspections limit the chance of lawsuits down the road brought by the buyer against the seller. (Presently we are getting a large number of calls from buyers wanting us to inspect or provide consul for an upcoming lawsuit.)
For buyers in this very competitive market we offer a Walk-through Consultation if they think asking for an inspection puts them at a disadvantage. We did not invent this process and it is being completed in many other markets across the country. Basically, an inspector will accompany a buyer during a showing. There is no written inspection report completed, but the buyer has a trained consultant with them to view the property. There are many agents who can advise their client on the condition of the property, but many hesitate to do so for many good reasons, except in general terms.
Many agents I have spoken with through this time are very uncomfortable, with their buyers skipping the inspection process. They are aware of the complications that can arise if significant issues are found after the sale. For many, they realize their buyer is not getting the information they need to make an informed decision that will ultimately create a happy client. Happy clients are, of course, essential for good business.