In todays 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.
Home Inspections Help You Avoid Unpleasant Surprises
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.
Getting an Inspector
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.
The following articles provide useful information and are a great place to start if you're considering buying a home.
Chestnut Park Real Estate Ltd., Brokerage, independently owned & operated
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.
The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other
reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping",
"database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information provided by members of The Canadian Real Estate Association, who are responsible for
its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
This website is operated by a brokerage or sales person who is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real
Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the
REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are
members of CREA.
The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the
purchase, sale and lease of real estate as part of a cooperative selling system. Canadian Real Estate Association Last Updated: 7/22/2019 11:13:24 AM