A visual inspection of a home can often reveal the factors that contribute to its value in addition to its location: curb appeal, layout, level of renovations, cosmetic updates, visible damage, or lack of maintenance. It goes without saying, however, that not all elements contributing to the value of a home are easily identifiable; therefore, a qualified home inspection is always recommended.
In a competitive market, many buyers are forced to avoid the home inspection condition on their offers in order to make their offers more attractive to sellers. As experienced realtors, we are able to identify some evident problems with HVAC systems, electrical systems, plumbing systems, etc., however, some are not so obvious, and when purchasing a resale home there is always a risk associated with them.
To provide exceptional value to our clients, we have created standard procedures for every step of the home buying process, allowing us to:
- Identify issues and risks when viewing the property prior to an offer submission
- Minimize risks or identify issues between the time you sign an Agreement of Purchase and Sale (APS) and the closing of your transaction.
- Make sure the seller and their agents are compliant, and deliver the property in the promised condition, as per the APS.
- A variety of phone calls, text messages, and emails follow the acceptance of an offer, as well as pre-drafted clauses in the APS.
- Following standard procedures and communicating clearly in advance of closing ensures that sellers and their agents understand their responsibilities and obligations as per the APS, which leads to statistically fewer issues during the closing process.
- In those communications we touch on the most important and most frequent issues in a transaction including moving out before the closing date, removing junk and unwanted items in advance of closing, making sure all appliances and equipment are in good working order, leaving fixtures and chattels that are to be part of the transaction intact, and giving enough time for the property to be properly cleaned before closing.
- Additionally, we always visit the property right before closing to ensure that all these agreements are being met, and if they are not, we notify you and the sellers' agents accordingly. These standard practices largely minimize any potential issues at closing.
Some of the most common issues that are usually presented, if any, include:
- The sellers not moving out until the closing date, and therefore leaving an insufficient amount of time to empty the property
- The sellers leaving the property untidy
- The sellers taking appliances, chattels, and fixtures that they had agreed to leave behind as per the APS
- When the seller fails to inform the buyer of any issues with appliances, chattels or fixtures included in the APS
- Sellers failing to leave behind enough keys for the property
Among the other minor issues you may overlook when viewing a property are loose handles, missing interior door keys, broken shelves in a fridge, window cracks, minor floor scratches, discoloured or uneven floors, insufficient ventilation and heating distribution, lack of caulking and poor plumbing in the bathrooms, small holes on walls, broken tiles, and many other small items that would not likely have affected your desire to buy the property at the time of your initial viewing.
While we strive to minimize and prevent these issues for all our clients by recommending actions from the sellers and their agents, the reality is that when you purchase a resale home, there are risks. Our goal is to ensure you are aware of these risks and to help you manage them most effectively throughout the process.
We look forward to completing a great transaction for you!