It’s not like you would buy a car without first inspecting it. You shouldn’t buy a house without inspecting it first.
Most buyers will have their home inspected after they have accepted the seller’s offer. Did you know you can request an inspection even before submitting an offer?
If you are the type of buyer who likes to make sure everything is covered before you jump in, your agent can request a pre-offer inspection from the sellers. It could end up doing more harm that good. Let’s take a look at all the pros and cons.
Pre Purchase Home Inspection
Although it might seem that you are putting the horse before the cart, there are many benefits to pre purchase home inspection.
It can be a way for buyers to ensure that they only focus on properties that meet their needs.
It’s not worth making an offer on a house that might be difficult to sell.
“A pre-offer inspection allows you to identify issues in the property that could make it difficult to proceed with the purchase.
You will want to see the condition of your home, especially if it is being purchased “as is”.
You might encounter serious problems that could cause you to reconsider purchasing the property.
“If interior walls or ceilings show visible water damage or if there are cracks or uneven floors or other signs that could indicate structural or foundation problems, it may be worth having those issues examined by a licensed real estate agent at Citi Habitats in New York. You should have these potential red flags checked before getting emotionally invested in the property.
A pre-offer inspection is another way to help you make a realistic offer.
Sacks says, “You can make an offering that reflects the real condition of the house and takes into consideration any work required.” Sacks says any negative findings can justify an offer lower than the asking price.
An inspection before the offer can reveal both parties’ commitment levels.
“If seller and buyer agree to conduct a pre-offer inspection it is a sign that they are serious about the sale.
Advantages of a pre-offer inspection
You might not be able to do the impossible. It is possible that sellers are not motivated to arrange for an inspector to visit their property. This could cause a negative impression.
“You will need permission from the seller to conduct a pre-offer inspection. This may prove difficult.
This could make your offer less competitive.
One risk with such a request is that the seller will go with another buyer who is willing to offer an unconditional price. Pre-inspection is not considered a contract. This means that the seller is not contractually bound to you and may sell to another buyer.
Another problem is the cost of pre-offer inspections.
Sacks warns that potential buyers will be paying hundreds of dollars for this service without knowing if the current owners and they can agree on the terms. It is a risk to pay inspection fees before final sale price, closing date, and contingencies are established. “
You’ll also spend a lot if you start asking for pre-offer inspections of every home you see.
“Before you decide whether to request a pre-offer inspector, ensure that you have good reasons to do so. Also, be prepared to lose your chance to purchase the property.