There’s no doubt there’s controversy surrounding the pre-auction inspection – you don’t have to Google far to find healthy debate on the blogosphere about their overall merit.
If the seller gets one done, there’s a perceived potential for corruption between inspector and seller. And if it’s left to the interested buyers to ALL get their own inspection, well. That’s a lot of money down the drain for a property they may not “win” on the day. Likewise, if inspectors were to go around inspecting every auction property for free hoping that someone would be interested in their independent report, that would be a lot of work for nothing – trust us, as an interested party looking for a solution to this problem, we’ve explored every option. So round and round we go.
What we can say about pre-auction inspection reports is exactly what we would say for pre-sale inspection reports, but with a twist: Do them for your own reasons (and then let the buyers know).
As a vendor going to auction, it is never a waste of time. There is inherent value in knowing the worth of your own property before The Market decides what that is anyway. There might be buyers who won’t trust your report, but you should. And it will tell you if there are any significant issues that need to be sorted out before anyone else gets a report done. Plain and simple, do you want the truth now, or do you want it later? You could live on the hope that no buyer will get a report done, but if you’re holding your breath, a 4 week auction campaign is a long time not to breathe out. It’s nice to feel confident.
And again, as a vendor, if you do get the pre-auction inspection done for your own information, nothing then stops you from mentioning it to potential buyers. Not as evidence that your house is perfect, but evidence that you know what is wrong with it. You can even point out to them what you have fixed and what you didn’t think was important enough to change or even that you didn’t fix anything.
The truth will set you free.