How to prepare a property for inspection when selling
Selling Tips With LDS Realty
One of the most important steps in a real estate transaction is the inspection period. There are many real estate transactions that don’t make it past the property inspection period.
Findings from the property inspection are one of the most common reasons why property buyers get scared when buying a property. Some buyers are scared by the smallest deficiencies in a property while others are not. Also the interaction between an inspector and buyer as well as the buyer and their agent can make or break a transaction when issues are discovered during an inspection.
Many of the things that scare away a buyer are things that could be avoided if you prepare for a property inspection properly. Working as a Gold Coast real estate agent, I always mention to my sellers that it’s better to be proactive when selling a property since it can eliminate issues in the future.
Below you will find out some of the best tips to help prepare for a property inspection when selling a property. By following the tips below, you greatly improve the chances that you don’t have any issues because of the property inspection period. This means that your property sale should be successful and relatively stress free.
Why The Property Inspection Is Important
There are a multitude of reasons why having a property inspection is suggested when buying a property. Whether your selling your property to a first time property buyer or a buyer who is purchasing their tenth property, it is a huge life event. Most property buyers are seeking peace of mind when buying a property. One of the most important reasons why property inspections are important is because it improves peace of mind for a buyer.
Property inspections are important in real estate also because they are a relatively cheap way to help forecast future costs. A property inspection is almost a blueprint to help a property buyer predict what future expenses they will have.
For example, one of the most common property inspection findings is the actual age and condition of a property’s heating and cooling systems. A buyer can learn that the furnace in a property is 20 years old which can help them understand they should be budgeting for a new furnace in the near future since the typical life expectancy of a furnace is 20-25 years.
The property inspection is a critical part of a real estate transaction for a number of reasons, including the two discussed above. When selling your property, you need to take the inspection period very seriously. Now that you understand why the property inspection is important, continue reading to find out why it’s important to prepare for a property inspection and also some of the best tips for doing so.
Why it’s Important To Prepare For A Property Inspection When Selling A Property
Since the inspection period is a common culprit as to why real estate deals fall apart, you need to realise why it’s important to prepare for a property inspection when selling your property.
Some sellers will actually elect to have a pre-listing inspection when selling their property. The biggest benefit of a pre-listing property inspection is that it provides an opportunity to correct deficiencies before a buyer completes their inspection. Sellers who have a pre-listing inspection clearly understand why it’s important to prepare for a property inspection.
Another very important reason why it’s important to prepare for a property inspection when selling a property is the fact that many issues that are discovered during a buyers inspection can be avoided. Many issues that are discovered during a property inspection are quick and inexpensive fixes.
Exclusive Guide On How To Prepare For A Property Inspection When Selling A Property
As you can see, property inspections are an important step in a real estate transaction. When selling your property you need to realise it’s important to prepare for a property inspection and also how to do so. Below are some of the most common areas you need to check in your property and things to complete in order to properly prepare for a property inspection.
Check Your Lighting
As you prepare for a property inspection, one area of your property you need to check is your lighting. Property inspectors will be checking the light fixtures throughout your property so a simple walk around your property to test your fixtures should be easy. If your light fixtures are not working it could be a simple fix such as replacing a light bulb.
Inspect Your Property’s Systems
One very important aspect of a property that buyers are looking at while viewing properties are the main systems, such as the property’s roof, Solar system, water, and air conditioning. As you prepare for a property inspection you should have your property’s main systems inspected.
It’s highly recommended that before you list a property for sale that you have the Solar system cleaned and inspected by a licensed contractor. Providing a property buyer a receipt indicating that the Solar system has been cleaned and inspected and that it’s in working order is a great way to eliminate a potential problem after the inspection. It’s also a good idea to install a new furnace filter as you prepare for a property inspection.
One of the most costly property repairs is a roof replacement. It’s critical that while you prepare for a property inspection that you inspect your roof or hire a roofing contractor to do so. If you have an older roof, understanding how to know if you need a new roof is very important. The replacement cost of a roof alone is enough to scare away many potential buyers.
Other systems that you should have inspected as you prepare for a property inspection include;
Hot water Heater
Air conditioning unit
Electrical panel and wiring
Check the Exterior
The exterior of your property is just as important to properly prepare for a property inspection. There are a few tasks that you should complete prior to an inspection.
One important task to complete prior to an inspection is the cleaning of your property’s gutters. Clogged gutters can be very problematic since they can create issues with channelling water away from your property. While you’re cleaning the gutters on your property, you also need to check your downspouts. Downspouts play a big role in channelling water away from your property.
This is only one example of an exterior task that you should complete as you prepare for a property inspection. Some other important tasks include;
Inspect the grading around the foundation of your property
Inspect the siding and/or exterior paint condition
Inspect the fascia and soffits
Inspect the condition of your driveway
Trim trees, bushes, and shrubs away to ensure they’re not touching your property or roof
Check your doorbell to ensure its functioning properly
Check your garage door opener to ensure its functioning properly
Check Your Windows
The conditions of a property’s windows are important to many buyers. As you prepare for a property inspection, you should check your windows, both inside and outside. Make sure that your windows are functioning properly and that they open, close, and lock properly.
Recently while selling a property on the Gold Coast , the property’s windows were painted shut. As you can imagine this created a problem for the buyer since they weren’t able to open the windows in the property. The seller was asked to correct this problem prior to the closing.
It’s also important to make sure there are not ripped screens or broken windows. Depending on the type of mortgage a buyer is obtaining, broken windows can create issues with a bank appraisal
For example, if the buyer is obtaining an certain type of mortgage, the appraiser will likely note in his report if there are broken windows. These broken windows will need to be fixed before the bank funds the money to the borrower. It’s important to note that a broken seal in a window will likely not be required to be repaired prior to a lender approving the funding. A broken seal is when a window has a foggy appearance.
Check Your Plumbing
Water leaks can create major problems in a property. As you prepare for a property inspection, it’s vital to check the plumbing in your property. This can be done by simply running your property’s faucets, flushing the toilets, and running the showers/bathtubs. As you run your property’s plumbing you should check under sinks to ensure there are no water leaks occurring.
Keep an eye on the water pressure as you’re testing your property’s plumbing. While you are running the water in your property at the same time, the water pressure should still be strong. If the water pressure seems low, it’s possible you have a clogged, damaged, or old galvanized main water line and you should have a licensed contractor further evaluate.
If your property happens to have a septic system, it’s highly recommended that you have it cleaned and inspected. There are some types of financing that require a septic inspection to be completed prior to the funds being approved.
Provide Clear Access for the Inspector
An area of your property that you rarely access or maybe have never accessed is crawl spaces and the roof spaces. Quality property inspectors will want to have easy access to a property’s crawl space, knee walls, or roof spaces. As you prepare for a property inspection, it’s important that you provide a clear access to these areas. This may mean that you need to clean out a closet where the scuttle access is or make sure pull down roof space stairs, or access hatches are functioning properly.
It’s also important to make sure there is clear access to your property’s electrical panel, heating units, air conditioning unit, and water main. By not providing easy access to these areas, it’s possible a buyer believes you’re attempting to hide issues within your property.
Check Your Detectors
While you prepare for a property inspection you should be checking your property’s detectors. This includes your smoke detectors and alarm systems. Depending on where you’re selling a property, you may be required to have a certain number and location of smoke detectors. In the Gold Coast juristiction, every property is required to have at least one smoke detector. (check legitslation)
There are other detectors that your property may also have that you should check while you prepare for a property inspection. If you have smart property technology products, such as a water leak detector, you should ensure that is also functioning properly.
Check Your Utilities
If you’re selling a vacant property and have turned off your utilities, you need to check them as you prepare for a property inspection. Since a property inspector is going to be testing a property’s plumbing, electric, heating and cooling, and other utilities, it’s critical that they are on but also working properly.
Check Your Appliances
If appliances are included in the sale of your property, you need to check them prior to the property inspection. A quality property inspector is going to test the oven, washer, dryer, and other included appliances. An exception to this is if the appliances are being sold in as-is condition.
Are you prepare for a property inspection, make sure that your appliances are cleaned and emptied. For example, if your washer and dryer are included, make sure there are no clothes in either since they will be tested. The same can be said for the oven and dishwasher
Knowing how to prepare for a property inspection cannot be overlooked. Since the inspection period can be one of the biggest hurdles in a real estate transaction to overcome, preparing properly is vital.
As mentioned above, it’s highly recommended when selling your property that you consider a pre-listing property inspection. Correcting problems discovered in a pre-listing property inspection is a great way to improve the chances the transaction doesn’t fall apart because of a poor inspection.
There are so many things to think about when planning to sell a property that it can sometimes be difficult to know where to begin.
Fortunately, LDS Vision Realty has a great range of resources to assist you with every stage of your property journey. Whether you are looking to sell a home, unit or land, we can help guide you through the process and achieve the best possible price for your property.
From valuation of your home and marketing to a broad audience – both in Australia and abroad – with our online listings to closing the deal, we can provide you with valuable assistance and support through the entire sales process.
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