Are you looking for a new home, ranch, or land in the East Bay area? Continue reading to learn how to get a better price from sellers!
At The Kristy Peixoto Team, our buyer’s agents have a long history in the East Bay and a deep knowledge of the market in places such as Castro Valley, Sunol, Pleasanton, and elsewhere. We want to not only connect you with the best properties for your unique wants and needs, but also equip you with the knowledge you need to secure a smooth acquisition at a good price.
One crucial element to the home buying process is getting a property you’re potentially interested in professionally inspected before you make an offer. In today’s blog, we’d like to delve into why up-front real estate inspections are so important for cost-effective real estate acquisition. Continue reading to learn more!
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Better Disclosure
Getting prospective homes inspected before making an offer gives you more complete information about the properties before you invest any more time or money. Inspection reports can disclose any risks or potential concerns that may not be obvious to the untrained eye when touring a home virtually or in person.
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Less Litigation
By gaining more complete information before making an offer, you and your buyer’s agent will be able to make a more accurate and fair offer for the property. You’ll save time on litigation and have more information to defend any offer you make.
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Fewer Surprises
An inspection report will dive into the details on a property, mitigating any risk you might assume as a buyer and eliminate the potential for any nasty surprises.
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No Fumigation Surprises
More importantly, inspection reports will catch costly hazards, such as cockroaches, termites, or other infestations or vermin. Given that the average fumigation tenting takes multiple weeks and can be a significant expense, getting properties inspected before you make an offer is simply a matter of due diligence.
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Less Negotiation
Real estate inspections can help you save time on your acquisition by giving both parties clear, unbiased information about the property in question. You’ll enjoy less time wasted on negotiations, and the best part — buyers never lose when it comes to inspections. The home seller is already aware of their property’s highlights that they could leverage to request a higher sale price. Inspections reveal the hidden costs that you can factor in to defend a more reasonable offer.
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Less Risk Of Fallout
Pre-offer inspections also reduce your risk for a messy fallout. Home sellers can’t back out of a sale due to the condition of their property.
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Shows Seller in Good Faith
It’s advantageous for home sellers to get inspections too, as it shows they want to sell their property in good faith and deal honestly with buyers.
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Gives You Time
As a home seller, getting an inspection done is a great way to buy time if you end up finding deficiencies or risks in your property that need to be fixed or addressed.
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Buyer More Willing to Accept Deficiencies Up Front
Real estate inspection reports can also make buyers more willing to accept deficiencies up front, since they’ve been disclosed in a honest manner.
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Shorter Contingencies
Real estate inspections help speed up the whole home selling process. Particularly, they reduce the length of contingency periods, helping both seller and buyer achieve a satisfactory transaction more quickly.
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Faster Close
You’ll be able to close faster on your property, saving you time and money and allowing you to move into your new property more quickly.
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Control Expenses
By decreasing the length of the home sale process, real estate inspections help both parties control their expenses. Kiss surprise charges goodbye!
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Downgrade Materials
Inspection reports can also allow you to downgrade materials, another great way to save on the home sale process!
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Use Non-Licensee-Seller or Other
Real estate inspections give home sellers more flexibility during the home sale process. Inspections give you the opportunity to utilize non-licensee-sellers and other nontraditional avenues for unloading your property.
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Contractor Control
If you know your home will likely need some refurbishing in order to earn maximum value on the market, real estate inspections can help you get a more focused idea of the kinds of work your property will need done to get back to its best condition.
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Save Money by Shopping Repairs
By getting a specific list of repairs from your inspection, you’ll be better able to shop the work around to contractors as opposed to relying on specialists to evaluate what work your home may need done independently. Get the best deal on your home improvement projects!
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Can Exclude Items
Inspections reports are flexible. If there are certain areas of your property that you’d like to hone in on, you have the option to exclude items from inspection. However, home buyers and their agents may ask why you made such exclusions.
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Sell “AS-IS” = “AS DISCLOSED”
Sometimes, home sellers will list properties for sale “as is” when they really mean “as disclosed”. In order to get a complete picture of a prospective property, you’ll want to get a real estate inspection to ensure everything is disclosed before you make an offer.
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Shows Better
Inspection reports give both home sellers and buyers peace of mind in a property, which in turn helps the properties themselves show better. Sellers can take confidence that their asking price is fair and based on the most substantial information, and buyers can take comfort in knowing there are no hidden risks that they might be missing during a tour.
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Higher Price
By doing inspections up-front, your seller will save/make more money, therefore, you get fewer commission objections!
Now that you know the value of real estate inspections, you can continue your search for property in the East Bay with more knowledge and confidence as a buyer. To get connected with the finest luxury homes, farmland, and ranch properties in Castro Valley, Pleasanton, and more, call the Kristy Peixoto Team today!
