If you are selling your home, have you thought about the benefits of a pre-listing home inspection? This type of inspection happens prior to putting your house up for sale.
Why would you want to do this? It’s common for your buyer to order an inspection and use it as a contingency when making an offer. Any issues found during that inspection provide your seller with more negotiation power. They might ask that you pay for repairs or they may even walk away from the deal.
A pre-listing inspection informs you of problems that might cause issues with your deal later in the process. Let’s look at the benefits of a pre-listing home inspection.
The Benefits of a Pre-Listing Home Inspection Include Learning About Needed Repairs
Your pre-listing inspection report gives you a list of issues so you can decide which repairs to fix immediately. The repairs that you make now allow you to list the home in better condition.
You might decide to not repair some of the problems. It is still good to know they exist, so they don’t come as a surprise. Another benefit is that your buyer may waive inspection contingencies because they can use your pre-listing inspection report.
Enjoy a Smoother Transaction Process
Your home is likely to sell faster when you make repairs first or simply disclose the needed repairs to potential buyers. Doing this helps avoid common problems that happen after a buyer’s inspection is completed. The buyer is less likely to ask for a lower selling price or walk away from the deal.
Accurate Pricing is One of the Benefits of a Pre-Listing Home Inspections
You may choose to factor repair costs into the price of your home when you decide not to pay for them upfront. This allows you to explain to the buyer that they are getting a lower price to account for issues in the inspection report. Alternatively, you can ask for a higher price when you get the repairs done prior to putting the home on the market.
Save Yourself Money Overall
Buyers have a tendency to overestimate what repairs should cost. Also, last minute repairs performed on time restraints usually cost more. One of the biggest benefits of a pre-listing home inspection is that you have the opportunity to take your time when finding contractors. You can gather multiple estimates, and even make repairs yourself to save money.
You Seem More Trustworthy
Your potential buyers will see you as more trustworthy when you show them your pre-listing inspection report. This speeds up the closing process.
A Pre-Listing Inspection Helps Your Agent
One of the benefits of a pre-listing home inspection is that your agent can work more effectively to sell your house. Your realtor can use the report as a marketing tool and price the home more accurately.