A pre-offer inspection is usually used to help make an offer, especially if they are trying to win among multiple offers.
Reasons to get a pre-offer inspection.
It might seem a bit exaggerated to conduct an inspection before even giving an offer. However, here are some reasons why people decide to do this:
- If both seller and buyer agree to have a pre-offer inspection, it indicates that they are highly committed to making the sale.
- The price to offer will be reasonable since your basis is the inspection report showing the current state of the property.
- A pre-offer inspection is helpful when you will buy a home as-is. All the details about the current state of the house, including the issues, are all presented to you and will be the basis for requesting a reduced price or negotiation.
- It can help a buyer quickly check if the home will accommodate their needs. Since all the relevant information is provided, buyers can immediately check on the report if the major components are in good condition.
Disadvantages of a pre-offer inspection.
Sometimes, being too motivated or proactive would hurt you for these reasons:
- A seller can still accept another buyer’s offer despite having a pre-offer inspection. Spending money on a pre-offer inspection is risky because you’re not yet certain about purchasing the home.
- It is time-consuming to conduct an inspection despite the lack of commitment. Your buyer might lose interest and turn down the offer just from the request of a pre-offer inspection.
- There should be an agreement first between the buyer and seller before a pre-offer inspection. A pre-offer inspection cannot take place without the seller’s consent.
You have to weigh the pros and cons against each other before you decide if a pre-offer inspection is a wise decision or not. One thing is certain, more information is only going to be helpful for you in the major decision of whether you are going to buy a home or not.