In today's very busy market being prepared is key for a smooth Sale. Buyers today are often in a position that they will be competing for your house. The more they know about your house before they offer on it the better they will feel about paying top dollar.
Suppose you have an offer on your home and it is conditional on a Home and termite Inspection. In the time that you’re waiting for the inspection to be removed your loosing value time on the market. Your agent must report your home sold conditional on the inspection to the Toronto Real Estate Board.
Most agents won’t show your home when is conditionally sold so this is time lost. If the inspection reveals deficiencies that the buyer is not satisfied with and he walks from the deal this then leaves a question in the minds of other agents and the buyers that didn’t come to see it because it was sold conditionally and your now left with the hurdle of getting the market excited about your home again. This can often be tricky, as they will be questioning what was wrong with the inspection. Is there something terribly wrong with the house?
The best way to avoid unpleasant surprises like these is to arrange for a home inspection before you sell. If there are any deficiencies that need to be addressed you can address them before it goes to market. Having a home inspection available to prospective buyers will also help you if there is competition on your home to give buyers confidence to come in with a firm offer and to bid higher in order to get the house.
A good home inspection is an objective, top-to-bottom examination of a home and everything that comes with it. The standard inspection report includes a review of the home's heating and air-conditioning systems; plumbing and wiring; roof, attic, walls, ceilings, floors, windows, doors, foundation and basement.
Getting a professional inspection is crucial for older homes because age often takes its toll on the roof and other hard-to-reach areas. Problems can also be the result of neglect or hazardous repair work, such as a past owner's failed attempt to install lights and an outlet in a linen closet.
Real estate agents can usually recommend an experienced home inspector. Make sure to get an unbiased inspector. You can find one through word-of-mouth referrals, or look in the Yellow Pages or online under "Building Inspection" or "Home Inspection."
Home inspections cost about a few hundred dollars, depending on the size of the house and location. Inspection fees tend to be higher in urban areas than in rural areas. You may find the cost of inspection high, but it is money well spent. Think of it as an investment in your securing the best price for your home.