To Inspect or Not to Inspect?

I’m pretty passionate about a number of things, but, I have to say, home inspections are right up there in the top 5. We’ve had such a FOMO (fear of missing out) market for the past 2 years and there are a number of new agents who have yet to experience a shift like we are experiencing right now. In the past 2 years, protecting the interests of buyers was limited to a 15-minute showing, ensuring their financing was in place and trying to convince the seller’s agent that a pre-inspection was a must, please allow a minimum of 2 hours to accomplish this. I can count on both hands how many pre-inspections we were able to accomplish, the market was just moving too quickly. How can we possibly protect buyers without a thorough review of the home, top to bottom, inside and out? We typically can’t get into the attic to see if there is moisture or mould nor can we see if bathroom fans are properly vented out the roof, both of which I have seen in a number of homes. Contractors must be making a mint right now! They’re catching up with the buyers who bid much more than asking, sometimes stretching themselves beyond what they could realistically afford and now finding themselves with a home that needs immediate attention. With government intervention now in the form of interest rate hikes, the brakes have been put on for some buyers. As the interest rates increase, buying power is decreasing. I’m finding buyers changing their must-have list and perhaps downscaling on the type of property they are looking for. What some buyers are able to do now is include conditions such as home inspections in their agreement. This is refreshing for buyers. But we’ve regressed to buyer agents using inspections as a negotiating tool. While to some extent it can be, what it shouldn’t be is a full list of items the seller should tend to that are simply maintenance items. That lightbulb that has burnt out is simply maintenance, the caulking around the windows in a 20 year old home, you, buyer agent, saw these items when you viewed the home. Now, I always review a home with a seller prior to listing and sometimes we opt do a pre-inspection. This is advised to ensure we already know what may come up if a buyer includes an inspection condition. It gives us an opportunity to take care of any major items, such as that bathroom fan that doesn’t vent out the roof at all, causing moisture/mould build up in the attic. It takes a professional buyer agent to bring the items of concern from an inspection to the table and the buyers & sellers to come to a mutual agreement through their realtors. So, perhaps, along with the interest rate hikes, the government should consider mandatory home inspections. It will certainly change the market considerably. Of course, I am always open to having a conversation about the systems I have in place to ensure the sale of your home goes smoothly.  Message me right away!Photo by Tierra Mallorca on Unsplash