Arizona homes for sale

Benefits of a pre-sale inspection February 11, 2002 Due to rising home prices, increased consumer awareness and seller disclosure requirements, today's buyers focus more attention on property condition than was the case a decade or two ago. No one wants to buy a home wrought with problems that will become a drain on their finances. To avoid making a costly mistake, most buyers make their purchase offers contingent on having the property inspected by qualified professionals. An inspection contingency gives buyers permission to inspect the property, usually within 7 to 10 days after the seller accepts their offer. If the inspections reveal unanticipated defects the purchase contract may become subject to renegotiation. Or, depending on how the inspection contingency is written, the contract may be cancelable at the buyer's option. A pre-sale inspection is an inspection, usually ordered by the seller or the seller's representative, that is done before the property is put on the market. There are several reasons why a seller might order a pre-sale inspection. In states like California that have seller disclosure requirements, some sellers feel that the best way to make an accurate disclosure of the property's condition is to have it professionally inspected. HOUSE HUNTING TIP: Pre-sale inspections can benefit both buyers and sellers. The more information both parties have about the property's condition, the better able they are to negotiate a mutually acceptable price. Pre-sale inspections also reduce the risk of the transaction falling apart due to defects discovered during the buyer's inspections. For example, let's say you're listing your home for sale. The last time the property was inspected for termites and other wood destroying pests was when you purchased the property twenty years ago. If you market your home without ordering a pre-sale inspection, any offer from a buyer will probably be contingent upon the buyer's approval of a current pest report. In many areas, it's customary for sellers to pay for termite damage that occurred during their period of ownership. If this is the case, the contract will also need to be contingent on your approval of the termite report. If the termite report identifies more damage than either of you anticipated, your deal could fall apart. In that case, you would have to put your home back on the market and search for another buyer. This can be avoided if you have the property inspected for wood pests before you offer it for sale. Buyers, particularly if they are purchasing a property in its "as is" condition, feel more confident making an offer if they have reviewed inspection reports before making an offer. Some buyers, however, will wonder whether it's a good idea to rely on inspection reports that were ordered by the seller. Sellers who order pre-sale inspections should use reputable local professionals to perform inspections. Buyers will have a higher comfort level with your reports if their agent can vouch for the trustworthiness and experience of the inspector. Even so, pre-sale inspections should not be viewed as a substitute for a buyer's inspection contingency. Buyers should have the opportunity to complete whatever inspections they deem necessary. Even if the seller has a complete home inspection by a reliable home inspector, the buyer should be encouraged to have his or her own representatives inspect the property. Inspectors are human and can make mistakes. Also, inspections are somewhat subjective. Having a second set of eyes scrutinize the property can't hurt. THE CLOSING: It's far better to discover property defects before closing rather than after. This enables buyers to make an informed decision. And, it can protect sellers from being sued after closing. Dian Hy mer is author of "Starting Out, The Complete Home Buyer's Guide," Chronicle Books. Copyright 2001 Dian Hy mer Distributed by In man News Features   More - Real Estate Columns   FREE reports on homes sold in your zip code Arizona Homes - All available zip code reports Chandler Homes Gilbert Homes Glendale AZ Homes Goodyear Homes Mesa Homes Phoenix Homes Scottsdale Homes Sun City AZ Homes Tempe Homes   FREE custom-made reports on homes for sale Metro Phoenix Southeast Valley. Homes for sale in Ahwatukee, Chandler, Gilbert, Mesa, Queen Creek and Tempe. Phoenix. Homes for sale in Anthem and Phoenix. Southwest Valley. Homes for sale in Avondale, Buckeye, Goodyear and Litchfield Park. Northeast Valley. Homes for sale in Carefree, Cave Creek, Fountain Hills, Paradise Valley, Rio Verde and Scottsdale. Northwest Valley. Homes for sale in Glendale AZ, Peoria AZ, Sun City AZ, Sun City Grand, Sun City West, Surprise and Youngtown. Wickenburg homes for sale. Metro Tucson Tucson area. Homes for sale in Marana, Oro Valley and Tucson. Green Valley area. 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