Guide to Pre Sale Inspections
Last Updated Oct 30, 2013 · Written by Jaclyn Fitzgerald
If you are thinking about selling your property, you might have had a pre sale inspection recommended to you as part of the selling process. But what exactly is a pre sale inspection and why is it important? Read on to find out!
What is a Pre Sale Inspection?
The purpose of a pre sale inspection is to document the condition of your property and to identify any problems that may need fixing before the property is placed on the market for sale. The pre sale inspection is done by a fully qualified inspector and if any problems are found during the inspection, you as the owner of the home can decide if you want to fix the problems before selling your home or not. Alternatively, you can choose to list your home at a slightly lower price that you otherwise would have.
Why Do a Pre Sale Inspection?
You might think that a pre sale inspection is unnecessary because potential purchasers are likely to do their own building inspection before agreeing to buy the property but it is actually quite beneficial. A pre sale inspection that is made available to potential buyers will alert them that you are being open and honest about the condition of your property, and that you have priced your property appropriately. A pre sale inspection will also alert you as the homeowner to any problems that are present in your property. This forewarning will mean that you are not surprised by anything that is found in the buyer’s pre purchase building inspection, and it will make it much less likely that your property will have to be sold at a much lower price, or that the sale will fall through altogether.
Who Can Do a Pre Sale Inspection and How Much Does it Cost?
A pre sale inspection is carried out by a qualified, licensed and experienced building inspector/building inspection company. The inspector will thoroughly inspect all accessible areas of the home, including sheds, garages, under the floor, the roof, and more and provide you with a detailed yet easy to understand report on the condition of your property, including any problems and issues. If you decide to rectify these issues yourself before placing the home up for sale, you’ll need to organise your own reputable tradesmen to do the work.
A pre sale inspection can cost in the realm of a few hundred dollars and, while this may seem expensive at first, you need to realise that having the inspection carried out and the information available to buyers can actually save you much more. That is, you will be able to set a more realistic asking price for your property and buyers will give you a better price for your home, instead of trying to negotiate severely downwards in order to “compensate” for any problems.
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