The home inspection can be one of the most contentious and emotional aspects of a real estate transaction. Sellers are oftentimes offended by the buyer’s requests for repair and remedy and the buyer simply wants to be comfortable knowing that they’re not buying a problem property. Although it’s most common for buyers and sellers to work things out should a defect be revealed, it’s not uncommon for buyers to terminate the contract during the inspection phase. With a bit of ingenuity, the uncertainty of the inspection process can be significantly reduced, if not completely eliminated, for buyers and sellers by performing a prelisting inspection.

In a typical real estate transaction the buyer performs an inspection within one to two weeks after price and terms have been agreed upon, the inspection may include structural, radon gas and general physical condition. Once the inspection is completed the buyer has the option of requesting that the seller provide remedy for any unsatisfactory conditions. The seller has no obligation to make repairs and the buyer may terminate the contract if the seller doesn’t agree to the buyer’s requests. Bids are usually obtained by the seller to determine the costs involved and further negotiations related to inspection items may delay the process. The longer the delay the more uncertain the remaining dates and deadlines become, many times requiring extensions of future contract deadlines.

There is a better way. We suggest to property owners considering selling that a prelist inspection and repairs made previous to finding a buyer will not only eliminate the “surprise” factor and shorten the process but it also demonstrates to prospective buyers the seller’s commitment to bring a quality product to the marketplace. Occasionally buyers will forego the inspection process entirely with full disclosure of the written inspection and repairs made, a potential time savings of weeks.

Being part of Selley Group, we are constantly seeking ways to streamline the buying and selling process and to make our client’s transactions as seamless as possible from contract to closing. Considering our current market conditions it’s imperative to think differently in order to provide preemptive counsel to better navigate through the real estate transaction. A relatively small investment in a comprehensive prelisting inspection will yield tremendous benefits in time saved, frustration avoided and a successful closing…that’s what we’re all working toward!

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