The Property Lark Home Inspection Process: How it Works
One of the most common questions we get from sellers reaching out to PropertyLark is if there will be a home inspection. Our process is definitely different than a traditional real estate sale. Those will require a third-party home inspector must come in and disclose all their findings in an inspection report that the buyers, sellers, agents and mortgage lenders are able to review before the terms of the transaction are finalized.
Home inspections can be intimidating, especially for sellers. You always worry that the inspector will find something bad and it can derail the entire sale. That rarely happens, but it is definitely a source of stress for many sellers. Plus, it is one more potential complication in an already complicated process.
What is PropertyLark’s Inspection Process?
Getting back to the original question… Yes, PropertyLark does require an inspection. However, it is much less daunting and it definitely won’t delay or derail the sale of your house. It is just something that we need to do before we can finalize a cash purchase.
All properties that we buy at PropertyLark are in as-is condition. Check out our recent blog article on what homeowners need to know if their property is in need of major repairs. We don’t expect any home we buy to be in perfect shape.
We work with sellers who are dealing with a wide variety of situations (divorces, financial hardship, unwanted inheritances, unprofitable investment properties, etc.). In most cases, time is of the essence. The seller doesn’t have the time or the cash to get the house ready for a traditional sale on the open market. They don’t want to make repairs or clean things up, and they don’t have to when they sell to PropertyLark. We buy houses in as-is condition for cash, and we close the transaction as quickly as possible so the sellers can move on with their lives.
So why have a home inspection process, then? We still have to be able to get fair value for the house. We are a real estate investment company representing a vast network of buyers. We aren’t going to buy a house if there’s no investment potential in it. It still needs to have good “bones.” We are buying in whatever condition it is in as long as the property is worthwhile. We have to inspect the home to know exactly what we are getting into and to set a fair cash price.
How We Set the Cash Price
When you request a cash offer from PropertyLark, we will send you what we feel is a fair cash offer within 24 hours of your request. This price is based on our analytics and market research based on your neighborhood, square footage, lot size, property features and other key factors. If there are known problems with your house, it is best to note them upfront so that there are no surprises later.
Our cash offer will be contingent on an in-person home inspection by someone on the PropertyLark team. We will arrange to come by your house and check it out to make sure everything is as you described. If significant problems are uncovered or if things are better than expected, then the offer price will be adjusted accordingly. Our home inspection is much less intrusive than a standard home inspection. We just want to look things over to ensure there are no major surprises. Once the inspection is complete, we will present you with a final cash offer and you can decide if you want to accept it or not. There is no obligation to sell to PropertyLark.
If you have any questions about the PropertyLark house buying process or you are ready to receive your no-obligation fair cash offer, fill out the contact form on any page of this website and we will get back to you within 24 hours!