A professional pre-inspection can be a very valuable step in
the listing and marketing of your home. While professional home
inspections are not a new concept, the idea to have an inspection done at
listing is gaining acceptance. After all, why wait until there is a real
estate contract on the line to find out if there are any significant defects in
the home? A pre-inspection can help to alleviate any inspection issues that may
otherwise not be known until a contract is in place and inspection issues arise
that affect the health and safety of the current homeowners and the potential
buyers
Inspection issues are the most common reason for buyers to
terminate contracts with the seller. Also, seller disclosure requirements
are causing sellers to take proactive measures to protect themselves against
future liability during the sales process. Today's seller wants to close their
deal knowing they made a full disclosure of any property conditions in the
home.
The cost of a pre-inspection, using a 3 bedroom, 2 bath,
2000 Square Foot home as our example, would range from approximately $350 to
$400. A radon test should also be added at an additional cost of about
$100.
There are a number of common inspection issues that tend to
come up such as electrical and plumbing issues, and other repair and replacment
items such as appliances and windows. It is not uncommon to have more
serious issues like radon, mold, and potential gas leaks. Correcting
issues found in a pre-inspection prior to going under contract can save a lot
of time, trouble, and money. Sellers who are not on a dealine can ofter
repair items at a lower cost when they have the time to shop for the right
trade person, or perhaps make the repairs themselves.
A recent change in the Colorado Real Estate Contracts now
requires that inspection resolution items become an amendment to the contract.
Contract amendments are submitted to lender scrutiny which may lead to a
rejection of the mortgage or a delay in closing. Having fewer inspection
resolution items can lead to a smoother transaction.
For more information about pre-inspections, please feel free
to contact our office.
Don Ricedorff, Broker Associate, GRI, CRS, CCIM, ABR, RSPS, CDPE
E-Mail: don@durangorealproperty.com
Direct: 970-375-7014
Fax: 970-259-5007
