How important is a Home Inspection in a Seller's Market?
Updated: Dec 13, 2021
Do you follow news or updates on the Cincinnati area real estate market? If you are planning to buy or sell a home in the near future, you have likely been getting up-to-date market information and updates. And no matter where you look, you'll find an interesting thing occurring more and more. Purchasers are more competitive, there are fewer available homes, and we have remained in the seller's market.
Investopedia defines the seller's market as “characterized by a shortage of goods available for sale, resulting in pricing power for the seller.” As realtors will tell you, this is pretty much what all of the current buyers and sellers in Ohio and across the country are dealing with right now. Real estate agents have announced more "multiple purchase offers" than ever before; the number of available homes are extremely low; average list prices are increasing; and the homes on the market seem to only stay active for a few weeks or less.
In a busy and competitive market, it's easy to get caught up in the process and rush through it. Many buyers feel like they are on a tight schedule due to the activity in their area and many sellers are ready capitalize while the activity is so high in their favor. However, there are some important steps you shouldn't overlook when buying or selling a home. This includes allowing for an in-depth and detailed residential home inspection by a licensed Cincinnati home inspector.
The threat of structural issues, safety issues, and cost of future repairs does not go away because the market is on fire. In fact, the market being so competitive makes it all the more apparent as to why home inspections are so necessary.
Selling a house and jumping to buy the next one can also be very risky. This is especially true if your home has not been inspected. Running like mad for a sale, many home sellers have swept big issues under their carpet. So unless you want [a lot of] trouble and thousands of dollars in repairs, it would be worth it to hire a qualified Cincinnati home inspector.
During the inspection, inspectors visually look at key systems and components of your house. Inspectors also attempt to determine the lifespan of key systems around the home, including roofs, HVAC equipment, and water heaters. During standard home inspections, inspectors typically examine over 200 items throughout the house. Inspectors who are properly trained will be impartial and very thorough, and will look see how one part of the building affects the other.
The importance of home inspections for today's buyers
Buyers will want to know if their home is safe, well designed and functional, and that it does not pose a health risk. The home inspector's findings give a good overview of the house, including its basic components and systems. In addition to reporting any issues or defects, home inspectors provide the advice you need to be confident for months and years to come, including maintenance tips and other information to help protect your resources.
The Importance of Home Inspection for Today's Sellers
In an ever-changing market, more and more sellers are finding it beneficial to order a pre-listing inspection to avoid problems by repairing them or providing credit for future repairs.
For sellers, pre-inspecting helps identify defects that need to be reported to the buyer. It also includes recommendations for renovations that can improve your home's appeal. Therefore, home inspections are a valuable marketing opportunity and can help you sell your home faster and at the highest possible listing price.
At LiteHouse Inspect, we know Cincinnati. We'll give you the guidance you can trust and the service you can count on.
Want to learn more about the home inspection procedure in the Cincinnati area? Looking for advice or insight from our experienced inspection team? Our certified inspectors are ready to help.
With LiteHouse Inspect, clients can expect thorough inspections completed carefully and without cutting corners. When looking for a qualified house inspector, it's important to find someone you can trust, and that's why we're here. LiteHouse Services Group LLC inspectors are licensed by the State of Ohio, certified, and insured. All home inspections are backed by the We'll Buy Your Home Guarantee. Furthermore, we pride ourselves on the superior customer experience you'll enjoy as a client. If you have any questions, we'll answer them, even if you call years after your home inspection.
At LiteHouse Services Group LLC in Cincinnati, our home inspections are performed to the highest standards, that meet or exceed yours. Backed by a team of multiple inspectors, LiteHouse Inspect is committed to excellence. Have a question? Let us help.