Vendor Reports: Selling? Give Yourself The Best Chance
Selling your house can be an emotional experience. Those ‘four walls’ have housed a lot of memories and you have an investment in the property that goes well beyond monetary value.
The process of selling is therefore a big exercise. Apart from the rather daunting number of decisions you now face – how much, who with, how to – you need to step back and look at your home objectively. It helps to remain detached throughout the selling process. Easier said than done!
With your inner sanctum now open to public view, it can be confronting when the response is not as gratifying as you expect. And when a potential buyer arranges a pre-purchase inspection, sometimes there are surprises you didn’t see coming.
To help you stay on the front foot and avoid being caught unawares, it can be wise to arrange your own professional inspection of the house prior to listing – what can be referred to as a “Vendor Report”. That way, you can find out any issues that require attention before you go out to the market.
You then have the opportunity to address problems early so you don’t hold up a potential sale. You are also in a stronger position to negotiate the price as you are now fully aware of the condition of your home and can be upfront about any issues.
Some situations too may not be as alarming as first thought. You may be aware of cracking, for example, and are unsure about how serious it might be. An inspection may determine that the cracking is only of a minor nature and you can then advise your potential purchasers with confidence.
So What does a Vendor Report involve?
A comprehensive inspection will cover about 250 items of a house – a top-to-toe assessment of the structural elements both inside and out, as well as the general condition of the property.
The inspector will alert you to any areas that need attention and can offer you advice or recommendations as to how these might be tackled. You may want to rectify the issues prior to sale, or instead alert the purchaser and negotiate the price accordingly.
Make sure the property inspector you choose is a qualified builder with on-the-job experience in the industry. A builder has the know-how and the experience to assess a situation and determine whether it is serious or not. They can look beyond the cosmetic, and focus on the structural and maintenance aspects of the building.
And most importantly, they will take the emotion out of the equation! They can look at your house with an objective eye and give you a factual assessment so you know where you stand.
How does the Inspection Process work?
Organising an inspection is an easy process. You just need to contact us at SPI Property Inspections to seek a quote and book the job. The Inspector will arrange a time directly with you or your agent.
As the Inspector carries out his assessment, he will compile the report on our custom-built iPad application, complete with photographs and recommendations. He will then go through the report with you after the inspection, so he can explain things in more detail and answer any of your questions.
Remember that our Inspector is working for you and can help you through the process.
So What Does The Inspection Cover?
Some of the essential items covered by a Vendor Report inspection include:
- Site Elements:
These are the elements in the immediate vicinity of the house, e.g. fences, surface drainage, retaining walls, driveways, garage, carport, shed, surrounding trees.
- House Exterior Elements:
The Inspector will pay particular attention here to any signs of movement and cracking on the house exterior. Elements would include roof, gutters, flashings, valleys, eaves, downpipes, brickwork, weatherboards, paintwork, weepholes and vents, sills, balcony/verandah.
- Underfloor Space:
Often there is restricted access to the underfloor space, due to height limitations and services such as ducted heating. The Inspector is looking particularly at the condition of the subfloor structure, footings, stumps, piers, ant caps, the level of ventilation, any obvious dampness, and rubbish that might be inviting termites.
- Internal Structural Elements:
The interior inspection is extensive and covers ceilings, doors, walls, windows, skirting boards, architraves, fireplace, staircases, and tiling in each of the rooms.
- Wet Areas:
Water leaks can cause all manner of problems so careful scrutiny of seals and fittings is essential. Specific focus is given to elements in the kitchen, bathrooms, toilets and laundry.
The Inspector will review the electrical aspects – such as circuit breakers and safety switches, smoke detectors, hot water service and water pressure. No plugs or cables are removed from appliances, computers or AV equipment during the inspection process.
- Roof Space:
The roof space can reveal if there are any structural or framing issues, missing or broken roof tiles, and the general condition of the insulation and exhaust flues.
Give Yourself The Best Chance
Having a Vendor Report can put you in the box seat in any price negotiations. You can be confident you know the condition of your property, and there are no surprises that can upset the sale negotiations. The more upfront and transparent you can be with your prospective buyers, the easier and faster the sale process will be.
Call SPI Property Inspections on 1300 721 032 and ask about our inspection services. Give yourself the best chance to reach your price goal.