An AVID (Agent Visual Inspection Disclosure) is a report prepared by a real estate agent, documenting their observations from a visual inspection of a property. This can be helpful for homebuyers to review before making the seller a purchase offer because it provides them with more information about the property before deciding on a price and terms.
In today’s competitive market, most homebuyers are doing everything they can to set themselves apart and above their competition, including things like waiving inspection contingencies or very short time windows for inspections. Aside from things like a pre-offer inspection, an AVID can help inform a homebuyer in this situation make a more informed decision.
An AVID can also help the seller have one less thing to worry about, as the buyer’s agent has already done a visual inspection and disclosed all material items, making the buyer less likely to come back and try to renegotiate based upon new information discovered later.
In today’s video, I’m at a home to complete an AVID for my client before making their offer. From my visual inspection, I ended up finding nothing major in the home to disclose: some cracking in the driveway, small holes in the walls, rust here and there. These items are not necessarily red flags, but it’s nonetheless important for the homebuyer to consider whether they want to investigate these issues further, or at least adjust their offer price accordingly.