The pre-listing (advance) home inspection process plays a pivotal role to both seller and buyer. Correcting problems at an early stage increases a home's appeal — and its selling price. An advance inspection also sets the stage for a favourable final inspection report for the buyer (and in some cases depending on the type of loan - the buyer’s lender), expediting a sale.
Yet according to home inspection experts, approximately half the homes on the resale market today have at least one significant defect! Advance knowledge of imperfections or malfunctioning systems in a property helps buyers commit if the house is a worthwhile buy. And knowing trouble spots in advance helps a seller set an attractive price.
Whether you are buying or selling, here are a few tips to help you have a trouble-free final inspection this fall:
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- Minimum scope for a home inspection should include roof, plumbing, foundation, electrical wiring and central heating and/or air-conditioning. Except under special circumstances (those would include REO or estate sales), sellers are uniformly required to provide disclosure information about the property. Present these disclosures to your inspector, so he can double-check known issues first, and go over them with you during the inspection.
- A pest control inspector is sometimes considered optional, but is really highly recommended. This inspector makes a specialized report for any areas infested with pests that could damage the home. Even if the home looks terrific and was recently serviced, underlying pest issues can be some of the most expensive to correct. They can derail a loan in no time.
- Mold, asbestos, radon and other potentially harmful substances are not always included in a home inspection: they require a specialized license. If you are concerned about these elements, or live in a neighborhood where they are known to be a problem – consider adding additional inspections.
Knowledge is power when it comes to home inspections in town: the more you know in advance, the stronger your negotiating position will be.
John Badalamenti is an Associate Broker with Prudential Fox & Roach serving the Philadelphia Main Line & Surrounding Suburban Philadelphia area. John can be reached via email @ johnb@subphillyhomes.com or visit his website: www.MainLineHomeZone.com
