Traditionally home inspections have been left up to the buyers. But when faced with the pressure of multiple offers, in a rapidly rising market many buyers are waiving the home inspection clause and relying on the sellers’ property disclosure statement more than their own due diligence.
When placing your property on the market as part of your seller’s listing agreement you will be asked to fill in a property disclosure statement. This checklist highlights all the components of your home such as the age and condition of the roof, plumbing, and electrical systems. Most mortgage lenders require a seller’s disclosure be attached to a buyer’s mortgage application, which makes it all the more important the statement is filled in as accurately as possible.
Most home sellers are thrilled with the idea their home will not be put under the scrutiny of an inspector’s microscope – but what happens if a problem arises before the sale closes or is discovered when the new owners move in? If you suspect the buyers will not be conducting a home inspection, as a seller you may wish to protect yourself by having a pre-listing home inspection, especially if you are unsure of how to answer the questions in the disclosure.
We chatted with Peter Jesal, owner operator of Jesel Home Inspections, who recently posted an article on his blog called “Welcome to The Future: Pre-Inspected Real Estate Listings”
Are pre-inspections really the way of the future?
“Pre-inspections are very common in other parts of the world and it’s only a matter of time before they become common here,” says Peter. “Logistically there is less chance of a transaction falling through if the inspection is done in advance rather than waiting on the buyers to do it. Many owners are caught completely off guard if the home inspection turns up an issue and many more home owners don’t know there are any issues until something breaks down.”
Peter advises, “With an inspection done before the home is listed for sale the sellers can decide how to handle things by making repairs, providing disclosure to the buyers, or accounting for it in the asking price.”
Peter was very optimistic in his view of pre-inspections. “It benefits everyone, both the buyers and the sellers. The buyers know what they are buying before they make an offer and the sellers know what they are selling.”
The only times he does not recommend a pre-inspection is for land value only property.
Peter Jesal is an accredited and experienced home inspector. He is also a certified Level 1 Thermographer and Certified Mold Inspector. Visit Jesalhomeinspections.com to learn more about Peter and the types of inspections he provides.