The question: ShouldÂ a Seller should incur the cost of supplying property inspection reports — such as structural pest control inspections and the more general contractorâ€™s inspection performed by a home-inspection specialist â€“ to buyers prior to soliciting offers, part of what is typically called a buyer disclosure package?Â Though it is true that this cost is usually borne by a buyer subsequent to their offer being accepted, there areÂ large advantages for the seller to do so for buyerâ€™s review before any offers are made. Advantages that we believe far outweigh the additional costs.
- Getting pre-sale inspections up front helps preclude due-diligence renegotiations â€“ which are almost always for amounts (far) greater than the cost of the reports â€“ and makes it much less likely that the transaction will fall out of escrow (most often due toÂ newÂ issues being discovered, post-offer-acceptance).
- If material issues are uncovered by these inspections, it gives the seller time toÂ remediatethem appropriately or the listing agent toÂ quantifyÂ them with professional estimates â€“ which may be very important to prospective buyers â€“ prior to going on market.
- It allows for buyers to make no-inspection-contingency offers without the dangerous liability worries a listing agent and sellerÂ should haveÂ when there are no recent pest and contractor inspections. Any transaction allowed to close without recent inspection reports is asking for post-closing trouble, trouble that will embroil all the parties and will always cost more in time, energy, aggravation and money than the cost of having the inspections proactively.
- Pre-marketing inspection reports may help price the property properly to begin with, and may even help substantiate a higher asking price. Itâ€™s always good to make prospective buyers as comfortable as possible regarding the condition of the property, because that comfortablenessÂ helps generate higher sales prices, especially in competitive bidding situations.
Remember: Always use the most widely respected inspectors in the area and have them do complete and comprehensive inspections.