🏡 Real Estate News: May 2024

Seller Procured Inspection Reports

A common discussion with sellers prior to going live on the market becomes is it advantageous to procure an inspection report prior to their property going on the market? Among much debate on this topic, there are many pros and cons to go over with your trusted Realtor. Market climate plays a key role in how each agent/broker may council their client. If it’s suspected that multiple offers could come into play on the subject property, a seller must consider how many cumulative independent home inspections buyers may request to conduct in advance of their offer. This is considered a pre-inspection request. In addition, a seller must consider the findings through discovery that will be imbedded within the report and realize the potential for a host of items that may come up. The seller is then faced with the decision of which items, if any, need to be addressed in the immediate, and the knowledge of such items. The reality is a seller has the ability to wrap this inspection report into their seller’s disclosure, and make all associated documents available for advanced review by potential buyers. Each seller will need to make their own independent decision as to whether or not, they prefer a buyer to inspect in contract, perform a pre inspection at their own expense by a licensed professional of the buyer’s choice, or rely on a seller procured report that the seller has paid for. These points and many more should be given thorough consideration. Planning on selling soon? We are here for you, and happy to take this discussion to the next level.