There is nothing worse than achieving an amazing contract sale price only to find out that your buyers want to either crash the contract or they want a ridiculously high price reduction as a result of their building and pest inspection findings.
It’s heartbreaking … for everyone.
Unfortunately, once you are in this position there is very little you or your agent can often do except watch your buyer, and their price, vanish.
"But there’s nothing wrong with my house"
Ignoring any critical campaign element always increases your risk.
And obtaining an up-front building and pest report is a critical campaign element!
So, before you find yourself in the costly, and hyper-stressful position of trying to rescue an outstanding price result, or even your whole campaign, organise a formal building and pest inspection before you do anything else.
In our experience, over many years and with every type of home (new, old or renovated), every home has some kind of issue. Why not find out what this is and fix it, instead of having to explain it?
So, here are some quick reasons why pre-selling building and pest inspections are a non-negotiable ‘must do’ for any home seller.
THE IMPORTANCE OF A PRE-SELLING BUILDING AND PEST INSPECTION
- It’s a negotiation tool.
- Having a ‘clean-as-a-whistle’ pre-selling building and pest report allows you and your agent to maintain control over critical campaign ‘information’ and allows your agent to decide when and where these reports get used. Superior negotiation outcomes occur through information control.
- It’s an insurance policy.
- Building and pest inspections are a microscopic cost in the grand scheme of your campaign, and knowing that you don’t have any nasty surprises in store for you during the campaign provides the peace of mind every seller loves. It also increases your agent’s confidence in the home they are selling.
- It creates buyer confidence and superior buyer competition.
- Buyers are primarily concerned about water, termites and the integrity of the key structures of the home. If you can eliminate these areas of concern, and you couple that with a strong and early competitive environment, then, at best, your buyers will eliminate a building and pest inspection as a condition of sale, or, at worst, your buyers will compete with greater confidence (even if the buyer still wants to conduct an inspection themselves).
- It lowers your risk of failure.
- Every time you control something you can control, you are reducing your risk and increasing your chances of a faster sale and a higher price.
"But isn’t it the buyer’s responsibility to organise a building and pest inspection?"
The truth is, obtaining a building and pest report (either before or after you are on the market) is actually neither party’s responsibility. It’s simply a choice that either party can make.
If your goal is to rely on luck and chaos, or you simply like living on the edge, then by all means leave the contents of a building and pest inspection in the hands of your buyers.
However, if you want significantly more control over one of the MAJOR variables in any campaign then you should get ahead of the game and understand (and address) any potential impediments your home may possess.
WHAT IF YOU CHOOSE NOT TO OBTAIN A PRE-SELLING BUILDING AND PEST INSPECTION?
In short, if you choose not to get an up-front building and pest report, rest assured, you’ve almost guaranteed that your buyer will … putting the control of the outcome into the buyer’s hands.
"Every home … new, old or renovated … has some kind of issue"
Think there’s nothing wrong with your house, so why bother?
That’s what these sellers thought too …
- The owners of a recently renovated 5 bedroom home discovered to their horror that the 3 bedrooms on the lower floor weren’t actually legal bedroom height. Ouch! This was a major heartbreak and instantly turned their 5 bedroon home into a 2 bedroom home.
- The owners of a a brand new home with a compliant Form 21 completion certificate discovered that none of the insulation in the ceiling cavity had been installed.
- The owners of a brand new home, built by a large building company, had pages and pages of defective and non-compliant structural deck and stair issues in their inspection report.
- The owners of a 30 year old home discovered their renovation builder from 10 years prior had forgotten to lodge the certification for their carport and pergola.
Each one of these issues was thankfully resolved, but not before the seller experienced unnecessary heartache and additional costs.
The key message is … to run a successful campaign it’s all about the prep work.
Shortcuts equal chaos.
If you want to give your home the very best chance of selling for an above-market price, don’t risk it … organise a pre-selling building and pest inspection as soon as you can.
To make sure you are prepped and ready, download our books here – Price Truths and Negotiation Truths
Contact us for a no obligation Presentation AND Price Appraisal here