A couple of months ago I wrote a blog post asking the question, "Sellers: Should you have a pre-listing home inspection done?" (read it here).
Despite all the benefits, the reality is that some sellers opt not to have one done. Fair enough. It just means that the responsibility is in the buyer's hands.
Buyers essentially have two options. They can submit a conditional offer and then have a home inspection done after the offer is accepted. Or they can have a "pre-offer" home inspection done before submitting an offer.
In a market like Toronto's, where offer hold-back dates are common and multiple buyers are coming to the table, pre-offer home inspections make a lot of sense. They allow potential buyers to satisfy themselves ahead of time and to submit an offer without a home inspection condition. A firm offer carries a lot of weight and is much more attractive than a conditional one.
The one drawback here is that you're spending $400-$500 and a few hours of your time on a property that you may not even end up getting. True, but it's short-sighted to let that deter you. A few hundred bucks is a small price to pay in comparison to the hundreds-of-thousands you're spending on the home itself. And the peace of mind you'll get from having the inspection done is priceless.
Although there are plenty of home inspection companies in the city of Toronto, Carson Dunlop & Associates Ltd. seems to be the go-to choice for many. They do a pretty good job of explaining the pre-offer home inspection themselves…
Following is an excerpt from the “Pre-Offer Home Inspection” page on Carson Dunlop & Associates’ website:
A Carson Dunlop Pre-Offer Home Inspection provides buyers with a competitive advantage when bidding on a home. By having a comprehensive inspection completed before offers are presented, our clients have an opportunity to make their offers more attractive with fewer conditions. The Pre-Offer Inspection provides our clients with unparalleled insight on the workings of the home to help them make an informed offer.
Our Services Include:
- A summary page detailing the key findings
- Improvement recommendations for conditions, with time frames and ball park costs
- Photos and colour illustrations for clarity
- A copy of our Home Reference Book ($69 value) to help understand how houses work, what wears out and important maintenance suggestions.
Carson Dunlop Pre-Offer Home Inspection clients who are not successful with their home buying bid receive a $50 credit towards their next inspection. Another Carson Dunlop advantage!
If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.