Ideally, proper home inspection should bother the buyer of a property than the seller or homeowner. It is the buyers that will live in the house; hence must be certain it is a good fit for them. Having this in mind, you may now wonder if it is any use having your home inspected before putting it up for sale.
Truth is; as a homeowner looking to sell a property, you need inspection services just as much as the potential buyer. What follows are some advantages you will get as well as some pitfalls you can avoid when you invest some money getting your home assessed by professional inspectors. Basically, there are two major advantages in doing this. First, you know the great things about your home, and use this knowledge to get as much money as you can from the sale. Second, you know the faults in your property, and use this knowledge to try to give as little concession as possible to the buyer – if the buyer discovers the faults.
Getting the Best Value for Your MoneyIn the world of business, any expenditure that produces profits immediately or in the long-term can be considered as an investment. Following a home inspection, you will have a great knowledge of your home – its selling points to be precise. When you know what your home is worth, you can be sure to make cool cash from flipping it. It is important to know that some buyers or real estate agents will try to devalue your property through calculated statements.
When you meet these people; excellent bargainers who try every trick in the book to make you undersell your property, an assessment report will help you defend the price tag you place on your property. It is recommended that you write down a list of the most impressive things about your property (it will typically also be in the inspection report). And while you continue to emphasize the good things about your home, do not forget to make the buyer realize the assessment is from a paid expert inspector.
Fix It Before They Find ItIn the first point, we considered how you can use the strengths of your property as a bragging right in closing home flippingdeals. But then, there are times when you’ll discover flaws in your home after an inspection. These flaws are typical deal killers and must be eliminated. Blocked gutters, broken pipes, cracks in the wall, tears in the attic, broken doors, shattered window panes and a whole lot of other flaws can drastically affect the price of your property.
On spotting these flaws – after an expert inspection of your property, of course – you need to invest a little more money in effecting repairs. That’s the only way you are ever going to sell your property at the price you want. Should you be uninterested in repairing the damages in your property, you will at least be able to know that they exist; you will not be taken unaware. Again, you can easily strategize on how to bargain with the potential buyer as you would already have an idea of how much money you are willing to slice off your price tag.
Other Reasons to Invest in Home InspectionThe two reasons stated above will help the property seller make as much money as possible from the sale of the property. Making profits, however, is not the only purpose for carrying out inspection. Sometimes, sellers need to give buyers the impression that they (the sellers) care about them. One such way to do this is to cover the expenses of the inspection such that the buyer does not have to pay for the process.
In addition to helping the potential buyer save some money – especially if the buyer is a longtime customer – an inspection report is seen a sign of seriousness on the part of the seller. Some buyers will not even consider buying a property if the property owner does not already have an assessment report in place. In some regions of the world, it is as good as a prerequisite for persuading buyers to pay for a property.
Last ThoughtsFor individuals starting out with home flipping, the big question is whether or not to inspect a home about to be sold. Veterans in the business see things quite differently. They already know the benefits of inspection. What they concern themselves with is when to inspect their homes and how much it will cost. Whether veteran or newbie in the home flipping business, one thing remains common to either type of seller who finally decides to hire a professional for inspection. It is the task of finding the best home inspectors in the neighborhood.
Truth is; as a homeowner looking to sell a property, you need inspection services just as much as the potential buyer. What follows are some advantages you will get as well as some pitfalls you can avoid when you invest some money getting your home assessed by professional inspectors. Basically, there are two major advantages in doing this. First, you know the great things about your home, and use this knowledge to get as much money as you can from the sale. Second, you know the faults in your property, and use this knowledge to try to give as little concession as possible to the buyer – if the buyer discovers the faults.
Getting the Best Value for Your MoneyIn the world of business, any expenditure that produces profits immediately or in the long-term can be considered as an investment. Following a home inspection, you will have a great knowledge of your home – its selling points to be precise. When you know what your home is worth, you can be sure to make cool cash from flipping it. It is important to know that some buyers or real estate agents will try to devalue your property through calculated statements.
When you meet these people; excellent bargainers who try every trick in the book to make you undersell your property, an assessment report will help you defend the price tag you place on your property. It is recommended that you write down a list of the most impressive things about your property (it will typically also be in the inspection report). And while you continue to emphasize the good things about your home, do not forget to make the buyer realize the assessment is from a paid expert inspector.
Fix It Before They Find ItIn the first point, we considered how you can use the strengths of your property as a bragging right in closing home flippingdeals. But then, there are times when you’ll discover flaws in your home after an inspection. These flaws are typical deal killers and must be eliminated. Blocked gutters, broken pipes, cracks in the wall, tears in the attic, broken doors, shattered window panes and a whole lot of other flaws can drastically affect the price of your property.
On spotting these flaws – after an expert inspection of your property, of course – you need to invest a little more money in effecting repairs. That’s the only way you are ever going to sell your property at the price you want. Should you be uninterested in repairing the damages in your property, you will at least be able to know that they exist; you will not be taken unaware. Again, you can easily strategize on how to bargain with the potential buyer as you would already have an idea of how much money you are willing to slice off your price tag.
Other Reasons to Invest in Home InspectionThe two reasons stated above will help the property seller make as much money as possible from the sale of the property. Making profits, however, is not the only purpose for carrying out inspection. Sometimes, sellers need to give buyers the impression that they (the sellers) care about them. One such way to do this is to cover the expenses of the inspection such that the buyer does not have to pay for the process.
In addition to helping the potential buyer save some money – especially if the buyer is a longtime customer – an inspection report is seen a sign of seriousness on the part of the seller. Some buyers will not even consider buying a property if the property owner does not already have an assessment report in place. In some regions of the world, it is as good as a prerequisite for persuading buyers to pay for a property.
Last ThoughtsFor individuals starting out with home flipping, the big question is whether or not to inspect a home about to be sold. Veterans in the business see things quite differently. They already know the benefits of inspection. What they concern themselves with is when to inspect their homes and how much it will cost. Whether veteran or newbie in the home flipping business, one thing remains common to either type of seller who finally decides to hire a professional for inspection. It is the task of finding the best home inspectors in the neighborhood.
RSS Feed
