I recently recommended that a Seller conduct a pre-inspection for a property I plan to put on the market for sale in a month. A pre-inspection is such a potential value that I wanted to explain to my readers why it should be considered.
Property inspections are done during the inspection period once a property is under contract. Inspection periods are generally between 10 to 15 days after the effective date of the contract. At that time Buyers and Sellers are notified by a professional inspection report about the overall condition of the property.
Even though most properties are sold “as-is” in Miami-Dade County, a poor inspection report can jeopardize a deal since buyers often get nervous about extra costs associated with recommended repairs.
There are always additional negotiations that take place after the inspection report and the discovery of potential issues with the roof or structural that could become a problem for the lender.
To avoid any surprises and maximize the chance of a successful sale, I recommend pre-inspections.
A home inspection is just an unbiased professional opinion of the condition of a property at the time of the review. The costs vary between different companies, but for a property owner, it’s well worth the expense. Choosing a reputable company is paramount. Being in the brokerage business for over 20 years, I have a good list of professionals that I recommend to my sellers.
Indeed, conducting such a service will give you a detailed scope about the condition of the property including all the deficiencies about the foundations, the electrical, the plumbing, the roof, potential leaks and mold issues, air conditioning, appliances, windows, pool, termites, septic tank.
Upon completion, the report will list the condition of each item inspected, and the company will make recommendations on repairs.
I do not expect an owner to correct all the items listed, but I recommend that the essential details such as roof, foundations, structural and potential leaks get special consideration.
It is simple for a new buyer to change out appliances or an air conditioning unit, but it is much more problematic to deal with the big-ticket items.
Additionally, once the recommended repairs are complete, sellers can feel more confident about the condition of their property, and probably get a higher price due to not having to offer a credit at closing.
Some inspection companies will come and do a re-inspection once an owner has done the repairs and will offer a guaranty limited in time for all structural and mechanical items, which can represent a big plus for a potential buyer. Even if a buyer decides to go with another inspection company during their due diligence period, a seller can provide the re-inspection report to assist in the decision-making process.
The idea, in the end, is to make transactions as smooth as possible for all the parties involved and increase the chances of closing the deal.
Nicolas Boucher brings more than 20 years of experience as well as a global and local approach to real estate. Nicolas is aligned with EWM Realty International, a Berkshire Hathaway Affiliate and South Florida’s premier brokerage. EWM is a member of Leading Real Estate Companies of the World and Luxury Portfolio International, the world’s largest broker-to-broker network, and is the exclusive affiliate of Christie’s International Real Estate in Miami. His achievements in sales rank him among the Chairman’s Club at EWM, one of the company’s most distinguished honors. Nicolas has unparalleled knowledge of the real estate market and offers buyers and sellers meaningful and simple explanations of complex market trends. He specializes in Pinecrest real estate and is well-respected for his on-point pricing strategies; helping his customers approach the market as effectively as possible to minimize market time and maximize the experience.
Contact Nicolas at 305-788-8035 or boucher.n@ewm.com.
www.thepinecrestagent.com.
