Newcastle Living Magazine
While buyers understand how crucial building and pest reports are, not many people know they can be equally important for sellers. There are many reasons for this, but it would be hard to go past aspects such as speeding up the sales process and attracting more buyers.
As a seller, arranging your pest and building reports before listing your property can give you control over the negotiation process. It can also help the sale of your property progress quicker because you are not waiting on the buyer to organise their own reports.
Selling a property can be a very stressful time, but the process can be made easier if you know your property is issue free and can demonstrate it to buyers. If there are problems with the property, you can address them ahead of time and fix them. If for whatever reason you’re unable to, the property can be priced accordingly.
In some instances an estimate to fix the issue can be included in the reports, helping establish buyer confidence as it demonstrates there’s nothing to hide. Once you have addressed and resolved any issues a reinspection can be done, and reports can be amended.
Having presale inspection reports as a part of your listing can also help attract more buyers. You can appeal to a wider range of buyers this way, including interstate, overseas and – as with recent times – those who can’t attend. Reports are heavily relied upon in these circumstances, so they’re more likely to have a quick and streamlined sale turnaround if sellers are on the front foot.
These inspections can also make it easier for your agent. The more information your agent has on your property, the better armed they are to sell it, and the flow-on effect will be beneficial for you.
Some inspectors are happy to discuss reports with potential buyers. Not everyone knows what a bearer or a joist is, just like some people have no idea about cars or motors. The inspector can also talk through potential solutions to issues – if need be.
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