Pre-Purchase Inspection: Goals and Benefits

Pre purchase inspections are necessary to protect both buyers and sellers involved in a property sale. The process involves a trained inspector inspecting the concerned house visually and via specific non-invasive devices to find potential problems, if any. They are also known as pre-inspection and are conducted by the sellers and their realtor. However, buyers, too, conduct them before closing the sale to ensure the property is worth their investment. 

These assessments are visual in nature and do not involve invasive techniques like drilling or deconstruction. An inspector typically explains his findings to the seller/buyer through a discussion or a detailed report. This report will have accurate information on the condition of the house and various components in it. 

Goals for a seller pre-purchase inspection

When it comes to a property purchase, sellers are mostly short on time, and buyers have a limited budget. Either party learning about significant repairs in the house late in the buying process can find it troublesome. For sellers, it is a delay and added expense they don’t want, and for buyers, it is a sign of a potentially expensive maintenance budget. 

Therefore, the first goal of the pre-purchase inspection is identifying defects that could affect the sale. The inspector also identifies repairs that are urgent and need to be done before listing the property. The secondary goal is to create a maintenance budget, especially for sellers who choose to make the repairs. 

Why consider a pre-purchase inspection?

While pre-purchase inspections may feel like an extra and unnecessary step, there are a few reasons for sellers to consider getting one:

• The first reason on the list is the age of the house. If the property to be sold is old, an inspection is the best bet to get ahead of the repairs. 
• Pre-inspection will allow sellers and realtors to schedule the repairs needed in a relaxed manner as opposed to rushing to meet a deadline given by the buyer. 
• One of the biggest benefits of pre-inspections is the ability to price better. Sellers can accurately determine the condition of the house and how much it could be sold for. If they take care of the repairs, they can even add the costs to the sale value. 
• These inspections also save time during the purchase process because buyers and their inspectors already have a report to refer to during their checks. 
• Lastly, pre-inspections protect the interest of both the seller and the buyer.

Conclusion

Property purchase is a significant decision and a delicate situation for all the parties involved. The concerned house needs to be thoroughly checked to alleviate the fears of a buyer and help sellers close the deal. Therefore, pre-purchase and pre-listing purchases are an important and inevitable part of the process.