With the current market downturn, astute sellers are making use of creative techniques to attract potential buyers. One method employed by sellers is marketing their home with a full disclosure inspection report.
"There has been a dramatic shift in the trend of who is requesting home inspections," says Eric Bell, CEO of Inspect-A-Home. "In the past we were usually approached by the buyer, who wanted to ascertain the condition of the property before finalizing the deal. Now we are contacted by serious sellers who are keen to entice buyers by presenting their homes with a full disclosure inspection report."
"This report protects sellers against any problems post-sale. It also gives buyers advance knowledge of any potential problems and effectively eliminates the 'voetstoots' risk associated with buying a property in South Africa."
"The major cause of post-sale disputes and lawsuits involve defects and disclosure. Most disputes can be avoided if proper disclosures are made," mentions Bell.
Once the seller has taken the necessary steps to alert potential buyers of any negatives, he or she will be free to emphasize the positives. Buyers won't necessarily balk if the disclosure report indicates problem areas. It will simply be used as a negotiation tool and will demonstrate good faith on the side of the seller. Honesty is refreshing for a buyer and the report contributes towards an effortless, problem-free transaction.
"Sellers don't only request full disclosure inspection reports as a means of accentuating defects, the report is also used by sellers to deal with deferred maintenance issues or major defects which hinder their ability to sell their home before the property is even placed on the market", comments Bell.
"This ultimately gives the seller a competitive edge over others in the market as they are then able to show their property with a clean bill of health."
Article provided by Frederick Ollewagen of Inspect-A-Home.