Too many times we come across defective components in a property during a Pre-Purchase Building inspection which could have been easily repaired prior to showing and opening up to potential Buyers.
The defects, be they minor, major or serious safety hazards can take away the shine of the initial appeal and depending on the degree of defect, can potentially slow the sale or crash the sale completely.
Price negotiation is likely, which costs you money, particularly if you have purchased another Home based on your anticipated figures on sale/purchase.
Quite often the defective aspects were not noticed by the Seller who may have either become used to the loose stair tread, or were simply not aware that the gaps between the handrail balustrade was non-compliant, or there was rot in a post hidden by foliage. Structural defects are likely to provide a basis for negotiation, and at this time when you just want to settle and move on, have to either pay for repairs at short notice, or take a hit on the sale price.
A Pre Sale Building Inspection will provide the following advantages:
- Mitigate negotiation on your sale price- no defects offers a well maintained property.
- Expedite your sale time- with no back and forth on negotiating of price, who will complete the repairs and when.
- Defect free property is just what most Buyers want- nothing to do, just move in and enjoy!
- Pen on paper faster with confidence.
Mitigate this pain, and you will be in a strong position to hold firm on your asking price.
Buying and selling is a stressful time, and unexpected surprises will add to this stress for all concerned. Our advice is to prepare and be aware of what may come up in a Buyers Building Inspection report with one of two options:
Repair- fix the defects before you list for sale.
Be Aware- don’t fix, just procure written quotes from QBCC Licenced Contractors to repair the defects.
Factor these figures into your asking price, with advice from your trusted Real Estate Agent, and ideally end up with a price you are happy with. This way you don’t suffer disappointment and potential financial disadvantage from unexpected negotiation.
For more information, we have listed the Top Ten Defects we find daily, all of which affect the Buyers view of the property. You can use this list to assess your own property, and if you need assistance or would like us to assess and report your property for all potential defects, contact us via our website www.urbanbuildco.com.au