Should I get a pre-listing home inspection? Most homeowners are common with asking their real estate agent if it is advisable to get their home inspected before they can put it on the market.
If you found yourself on the seller list, you sure do know a buyer will be needing a home inspection before they agree to further their purchase negotiations. What if you could beat them off? Getting a pre-listing inspection comes with some advantages that you may not be aware of. The greatest is finding out the exact condition of the property.
Here are a few reasons why a pre-listing inspection is a great idea for every home seller:
- Reduced Stress and Sell Fast: Having an honest and transparent approach towards the selling process can act as a head-start ahead of other sellers. It is normal to worry that your home may have some hidden defects, with a pre-listing inspection, you’ll be able to know if such problems exist and if there is any need to solve them. By simply providing a copy of the pre-listing inspection report, you won’t only be saving time for the buyer but reducing their financial stress as you’ll be showing them proof that you’ve made every necessary upgrades and repair. This result often has a slight impact on the pricing of the home.
- More Room for Profit: The asking price you set on your property is one of the most important parts involved in the sales process. This will be highly affected by the pre-listing inspection result. Either the result shows the quality and perfect condition of your home or, those issues that require immediate attention. Unlike waiting for the home buyer to do the inspection when the home is already in contract, there will be room to handle major issues which gives time for creating the asking price. You might think your home has no issue and need no inspection, how do you price something when you have no idea of what it consists of?
- Smoother Transaction: Taking on the home selling process without some assurance that the home you’ve lived in all these years is still worth what you think it is will only lead to some unnecessary stresses. Pre-listing home inspections are gaining more popularity as time goes on. Not only do they speed up the selling process, but they provide a smoother, more beneficial experience to all parties involved in the process.
- Improved Buyer Confidence: Buyers often find themselves in a difficult situation, it is normal for them to be highly suspicious when considering to buy a home. We all know the home buying process is usually the largest and most complicated transaction most people will ever go through. You won’t want to mess up your life’s biggest transaction! A buyer will have to calculate what purchase price he/she can afford as well as how much is required to live in the home and keep it running in good shape. In case the buyer suspects any hidden problems in the property, their offers will reflect that. A pre-listing home inspection will help eliminate most of the doubts from your property. With a pre-listing inspection report, the buyer will be much confident about what they purchase.
Are there any noted disadvantages of a pre-listing inspection?
- You’ll have to Pay for the Pre-listing Inspection: Inspections are paid for and just because you had a pre-listing inspection doesn’t mean you won’t go through a buyer’s inspection. You’ll have to pay for the pre-listing inspection which we all know the cost is worth it but some sellers may not have the funds to cover a pre-listing inspection.
- Disclosure Laws: One more disadvantage of a pre-listing inspection is the disclosure law which depends on your state. You may be required by the disclosure law to show every problem uncovered by the inspection to the buyer. Whether you find the disclosure as a disadvantage highly depends on your finances.
- You might be having more than one inspection on your home: This shouldn’t be a problem if you’ve already had a pre-listing inspection and taken care of major repairs before listing.