In the Southwest Oklahoma real estate market, it is routine for buyers to complete a professional home inspection once their offer is accepted on a home. This professional home inspection is a thorough examination of the current condition of a home by a trained and certified home inspector. The inspector prepares and delivers to the client a written report of findings. The client then uses this knowledge gained to make informed decisions about their pending real estate purchase.

When a buyer and seller enter into a real estate contract, it is based upon information that is known at the time and is contingent upon the buyers' acceptance of findings by the home inspector. In our market, the buyer has ten days after signing the contract to complete the home inspection.

Renegotiation typically takes place after the home inspection because new information about the condition of the property has been revealed. This means that the deal you worked so hard to finalize, during weeks of negotiation, was tentative at best.

When buyers obtain a home inspection, they use it for their own benefit. Some sellers hire an inspector of their own when the property is listed for sale. This enables them to present full disclosure of the property's condition to each prospective buyer, before negotiations begin.

By obtaining a presale inspection, sellers accomplish four valuable objectives:

• Purchase offers are based upon a full knowledge of the property's condition. Once an agreement is reached, the sale can proceed without second-stage negotiations.
• A pre-sale inspection report exceeds the legal requirements for seller disclosure. This reduces the likelihood of future liability for undisclosed defects.
• A pre-sale inspection report demonstrates to buyers that the sellers have nothing to hide. This promotes an environment of confidence and trust in which to negotiate the terms of a sale.
• Buyers are usually more willing to accept property defects that are initially disclosed, rather than discovered in the course of the transaction. When faulty conditions are discovered later in the escrow process, buyers typically demand repairs at sellers' expense.

The case for presale home inspections is a strong one. Only a small percentage of sellers have recognized these advantages. At Parks Jones Realty, we see the benefit in home inspections for both buyers and sellers. It is our hope that more sellers will see the benefits of taking control of the disclosure process by completing a home inspection when listing their property for sale.

Source:  www.housedetective.com