Should House Sellers Arrange a Home Inspection Report?

Homebuyers generally have a home inspection done before they finalise buying their new home, and many mortgage companies insist on a home inspection report before agreeing to a mortgage. They need to know the value of a property, so that they can decide if what you are asking to borrow against that value, makes commercial sense for them.

Home inspections don't have to be carried out by sellers, but sometimes - especially during a buyers market - they can make good sense. So why, if a buyer is going to arrange a home inspection, should you, the seller, arrange one yourself?

Well think about it. The home inspection report is going to identify any remedial work that needs to be done to your property, if any, so you have an opportunity to carry out the work before prospective buyers come along. If there are no repairs necessary, just imagine what a vote of confidence in your property that report will be to a potential buyer.

And if work does need to be done, you can either get it done yourself, thereby showing good faith to the buyer, or price up the cost of repairs and draw up a budget sheet for the buyer, and show willingness to reduce your asking price by the same amount, as is customary in such cases. Being upfront about problems, large or small will work to your advantage.

Sometimes structural problems can be present that are difficult to detect unless you are a builder. Just because you live in the house, it does not necessarily mean that you can identify all that may be wrong with it. That is why an inspection is so important. Should a buyer arrange a home inspection and it turns up problems in your home that you were unaware of, it will most likely lead to a deal breaking down, or you being forced to reduce your price.

It is not compulsory to fix problems before a sale but buyers should be notified of any problems. Of course, if you do discover problems after you have commissioned your own inspection, and you are selling your property yourself, then you should cover yourself by advising your attorney of the reports conclusions. This is just so that there is no suggestion of dishonesty or concealment at a later time, and the threat of a lawsuit, which would most likely cost more than doing the work in the first place.

A home inspection is of great importance to a homebuyer, and it should also be to the seller.  Identifying existing problems can help avoid buyers withdrawing, wasted time and lawsuits.