What will be in the report?
As a seller, you know that buyers will usually require a home inspection conducted before they agree to purchase the property. You should consider getting a pre-listing home inspection done before putting your home on the market because it offers some advantages to sellers that you may not be aware of. The biggest, of course, is finding out the exact condition of the property. The pre-listing inspection report provided by a home inspector could be invaluable for making repairs and improvements before going on the market.
To help you determine whether a pre-listing inspection is suitable for you, consider the pros and cons.
Pros For Having a Pre-Listing Home Inspection
1. You find out what condition your home is in.
One of the biggest fears of most sellers is that when a buyer does get the home inspected, something will be discovered that kills the sale. This concern is undoubtedly justified. The home inspection could cause the sale fall apart. But as the seller, you don’t have to wait for the buyer’s inspection. You can have your own pre-listing inspection done and get ahead of any issues before listing the property for sale. By having a home inspection before hitting the market, you’ll find out the exact condition of your home.
2. You can make repairs for outstanding issues.
Most agents will tell you to make major repairs before you list your home. The buyer’s inspection could uncover significant defects, and you will be expected to repair them. The problem is that you will only have until closing to get the repairs done if you wait until the buyer’s inspection. The limited time frame leaves the seller scrambling to get everything fixed in a short period of time. A pre-listing inspection can give you more time to have repairs done. With more time, you can compare companies and select the contractor that provides the best value and service. All contractors are not equal. It’s important to select a contractor with experience that will get the job done right. Having repairs done before the house goes on the market will also help you avoid delays during the closing process.
3. Less likelihood of negotiations.
Negotiating home inspections is a common hurdle in the real estate process. Quite often, buyers will use the home inspection as a point of asking for additional concessions. They will use the home inspection as a means to renegotiate the sale. That’s because they know that there will probably be one or more issues that will come up warranting reconsideration of the price. If you have pre-listing inspection, you are unlikely to learn anything new about your home from the buyer’s inspection and it limits the negotiating due to the buyer’s home inspections findings.
4. Help improve the buyer’s confidence.
Another benefit to having a pre-listing inspection is that you can give potential buyers a copy of the inspection report as a way to be transparent. Buyers often feel more comfortable making an offer on a house after seeing the inspection report. Most buyers understand that no house is going to be perfect so it’s okay if there are defects listed on the inspection report. What most buyers are concerned about are major defects that could negatively affect the value of the home or the safety of the occupants.
Cons For Having a Pre-Listing Inspection
1. You will have to pay for the pre-listing inspection.
Pre-Listing Inspections are not free, the costs will come out of your pocket.
2. There will be two inspections of your home.
The Homebuyer's inspection should not be too worrisome if you have had a pre-listing inspection and made appropriate repairs before listing. However, it is worth noting that you may need to go through a buyer’s inspection regardless of whether you get a pre-listing inspection or not.
3. Disclosure laws may require you to disclose any issues.
Depending on the disclosure laws, you may be legally required to disclose all the problems the inspection uncovers to the buyer. Whether disclosure puts you at a disadvantage largely depends on your finances and any issues found. If you have the options to make repairs, disclosure is not much of an issue. But if you cannot make necessary repairs, the defects you find through the pre-listing inspection may make it more difficult to sell your home. A seller's Real Estate agents must, however, answer a buyer’s questions accurately and honestly.
Contact me if you have any questions or would like to schedule an inspection by calling or texting