Pre-Listing inpsection, from a sellers point of view

Originally Posted By: rpierson
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The benefits are legion and distinct, whether the report is prelisting or simply pre-escrow, and extend beyond the close of escrow.

Although an early home inspection serves the best interests of all ? seller/buyer/agent/insurance company, the seller is especially well served. Such an inspection allows the seller to address deficiencies in a non-harried /non-hurried manner often at less expense. In fact a home inspection is the very first thing that a seller should seek. It allows him to batch repairs ? electrical, plumbing, drywall, etc. The process is less haphazard. The position of the seller is also immeasurably enhanced in any litigation that might subsequently develop, if he had obtained a prelisting home inspection.

There are more homes in Palos Verdes Estates listing at over $2M than for less. Any prospective buyer interested in such a multimillion dollar purchase is well advised to be concerned about many items covered by a comprehensive home inspection, items such as the roof, the foundation, etc. An already available report not only helps allay these concerns but also shows good faith by the seller, even if the buyer retains his own inspector after escrow opens. There is less likelihood that the buyer is wasting his time.
The escrow period is also a fragile time. An already available report will help guarantee that unexpected problems don?t delay its closure. Such a report showing rectified deficiencies and no significant problems will help minimize the frequently encountered buyer?s remorse.

Perhaps the greatest benefit, received by all parties ? sellers, buyers and agents, is in the area of litigation. It is less likely to occur. Emotional investment in the purchase of a lifetime later denied due to problems unearthed by a delayed home inspection can easily lead to arbitration or court. This may help discourage such litigation. Accordingly an early home inspection affords certain benefits to insurance companies. Their Errors and Omissions policy holders (brokers and agents) will be encouraged to foster this practice.

Brokers work hard earning their dollars from buyers. Listing property is a great deal easier, especially in this market. Why not encourage prospective selling clients to seek a prelisting inspection. If the above arguments in favor of this leave you cold, then consider that this piece of sound advice just might tilt the scales to selecting a broker in your favor.

Patrick Chambers, MD
Laboratory Director
Torrance Memorial Medical Center

Originally Posted By: rking
This post was automatically imported from our archived forum.


Muskoka Home Inspections

“Wisdom is the Anticipation of the Consequences”

Steering Committee Member At Large

Originally Posted By: Patrick Chambers
This post was automatically imported from our archived forum.

I neglected to mention several other benefits to a seller like me. The completion of the inspection was accompanied by a tremendous sense of relief that no large problems were discovered. This sense of relief was present even before any of the problems had been corrected. Same with the termite inspection. Escrow is accompanied by enough stress and anxiety without the concomitant fear of a costly repair job for something uncovered by the inspector.

I also neglected to mention the educational benefits realized by the seller through his proactive participation in the inspection itself. Things learned can be applied in his new home wherever it might be. I am strongly considering having an inspection done on my next home. This would not otherwise happen since it was purchased many years ago. Such an inspection might nip in the bud a problem, which, if left unchecked, might grow into a much more expensive problem later.

Patrick Chambers

Originally Posted By: slanicek
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I brought up the subject today with a few realtors that I am in frequent contact with. The concept was new to two of them and both of them loved the idea. Another said that her office was already toying around with the idea to see what would happen. Only positive feedback from her as well.

Why would they not like the idea!? Another way for them to facilitate the closing process for everyone involved.