Property condition vs value and price
ByAs a seller you would want to know before you have a buyer what the true condition of your property is. Have you ever been to a home you think looks really nice only to find out it has thousands of dollars of section 1 work that needs to be done? Section 1 work represents items that negatively affect the value of the property becaue whatever the items are that need repair are causing active damage to the property. For example, if you have a deck on your home and it has dry rot that has a negative structural affect to your property. Sometimes lenders want all section 1 items cleared prior to close of escrow. As a seller, if you have that report up front you can decide if you want to do the work prior to an offer being written, if you want to substract the cost of the repairs from your listing price and sell the home “as is” or if you want to do any portion of the work and have the buyer do the rest. These are all options if know up front by the seller. If you wait until a buyer is writing an offer the buyer may have the upper hand in deciding what will need to be done in order for the purchase to go through.
Termite reports are not so exepnsive you wouldn’t want to have one done before you have a buyer. The money you spend for the report could potentially save you thousands during negotiating. After all, as a seller don’t you want to get the highest price possible for your home.
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