Property Inspections: What You Need to Know and How It Can Be Useful When You Plan on Selling

Owning your own property is an important life goal for many. There are many benefits to home ownership. Most homes tend to increase in value, home ownership builds equity and is generally less expensive over time when compared to renting.

When it’s time to buy or sell a home, having a thorough property inspection is crucial. Qualified inspectors can point out possible problems or areas for improvement. They can help save homeowners and potential buyers thousands of dollars in renovation costs.

There are many reputable property inspectors. If you are living in Melbourne, you can find information about property inspections Melbourne and other companies online. Take some time to read about the services, hours and pricing for each company that you are considering. Read reviews and ask friends and neighbors for suggestions if they have bought or sold properties recently.

Here are a few things to know about property inspections and how such inspections can be useful if you plan on selling your home:

1. A property inspection clause is standard in most sales contracts

Most real estate contracts include a property inspection clause that allows the potential buyer to have an inspector search the premises before the sale is completed. Inspections are not always required but are highly recommended to protect the interests of both parties. Most inspections usually take a few hours.

2. There are standards that inspectors must follow

Every home inspector is bound to certain rules and regulations. These rules clearly state what inspectors are allowed and are not allowed to review. They also clarify what the inspector should do in cases where certain problems need to be reported.

3. Several key areas of the home will be evaluated

A home inspector will typically examine the home and focus on the following areas:

• plumbing
• roofing
• heating and air conditioning
• electrical system
• insulation
• interior and exterior
• ventilation
• any fireplaces that may exist
• general structure

Inspectors will be looking for problems with mold, leaks, cracks in the foundation and other potential problems. They are not looking for anything minor, unless it poses a safety concern. The inspector should be given full access to all areas of the house. Any minor repairs should be done beforehand. Air filters should be replaced before the inspection and it’s a good idea to gather any receipts and warranties that you have for appliances that are still in the home.

4. The inspector will issue a report on their findings

After the inspection has been completed, the property inspector will write a report that will be made available to the home seller and potential buyer. They will list problem areas and give their recommendations. It’s not a pass or fail basis. The seller has the option to make any suggested repairs,but is not required to. The buyer can accept things as they are, ask for repairs to be made or walk away from the process entirely.

Home inspections may not be enjoyable, but they are often a necessary part of many property transactions. They can help the sale process go by faster and reduces a lot of stress or anxiety. It can even prevent the possibilities of renegotiation or a lost sale. Property inspectors are performing a valuable service for both parties that are involved. They can take a lot of the headaches and guesswork about repairs and areas for improvement. A good home inspection can provide reassurance that the home being sold is sound and will last for generations.