May 11, 2011 // Franchising.com // BOUND BROOK, N.J. – With an increasing number of agents, home buyers and sellers across the country complaining too many appraisals are coming in low and scuttling deals, HouseMaster, the first and oldest home inspection franchise system, is suggesting that the pre-inspection of a home may be necessary in today`s housing market.
Appraisers take home condition into consideration and, while they do not offer a comprehensive home inspection, major conditions they see will reduce the appraised value of a home. And since the appraisal is not done until after the buyer has signed a contract and been pre-approved for the mortgage, it can be devastating to all parties to find out the bank won't make the loan.
"Condition has become just as important as the long-lauded 'location, location, location' and, without a home pre-inspection by a qualified professional, all involved in the transaction are put at risk," said Kathleen Kuhn, president of the 30-year-old company, noting that one in four members of the National Association of Realtors® have reported clients losing a sale due to appraisal issues. "There is not much a seller can do to improve the location of the home or comparable values in the area which can affect the appraisal outcome, but the condition of the home is something they have control over if they have an inspection and know what they are dealing with."
With a home pre-inspection, sellers can improve appraisal outcomes by addressing any defects an inspector might find and having them repaired before the appraiser or even a possible buyer sees the house. Such an inspection also can minimize last-minute price negotiating and the possibility that buyers might develop cold feet regarding a sale once their buyer inspection uncovers a needed repair, often bringing into question the whole purchase.
In the end, a professional pre-inspection puts a written document in the hands of the buyer, attesting to the reputability of the listing salesperson and the serious intent of the seller. It not only details visible defects that exist, but also highlights the assets of the home, pointing out which major systems have recently been updated. And it estimates how long the home`s equipment, structure, and finishes will last – all the more reason to buy the house.
"Eventually your buyers are going to conduct a home inspection. You may as well know what they are going to find by getting there first," Kuhn added.
Founded in 1979 as the first home inspection franchise operation in the United States, HouseMaster provides home buyers and sellers an independent, third-party, professional evaluation of the condition of the major elements of a home. The guaranteed inspections enable potential homebuyers and sellers the opportunity to make educated real estate decisions and potentially negotiate repair needs. From interior systems such as plumbing and electrical to exterior components like the roof and siding, the HouseMaster home inspection includes the evaluation of all visible and accessible elements of the home.
HouseMaster also conducts new construction, commercial property and foreclosure inspections, among other services.
Headquartered in Bound Brook, N.J., HouseMaster is the oldest and one of the largest home inspection franchisors in North America. With 371 franchise locations throughout the United States and Canada, HouseMaster is the most respected name in home inspections. For 30 years, HouseMaster has built upon a foundation of solid leadership and innovation with a continued focus on delivering the highest quality service experience to their customers and providing HouseMaster franchisees the tools and support necessary to do so. Each HouseMaster franchise is an independently owned and operated business. HouseMaster is a registered trademark of DBR Franchising, LLC.