A pre-listing inspection for sellers can immensely help you in the home sale journey, which can be a long and tedious process. This type of home inspection allows sellers to take a proactive approach to get ahead of issues. Pre-listing home inspection can also help the home sell faster and reduce unexpected negotiations after buyers' inspection. Pre-listing home inspection is a relatively small expense with significant benefits for what's at stake.
What is a Pre-Listing Inspection
A pre-listing inspection for sellers covers the same items as a full home inspection for buyers. A highly trained home inspector will check roof, structure, interior, exterior, HVAC, plumbing, and more. While a buyers' inspection occurs before closing, however, a pre-listing inspection occurs much earlier. By having a pre-listing inspection before the home goes on the market, home sellers have time to make repairs and upgrades based on recommendations from the detailed home inspection report.
Continue reading to learn more about the benefits of pre-listing home inspection and why home sellers should get one done.
Pre-Listing Inspection Gets You in the Lead
Home sellers should assume that the buyer will get a home inspection done to learn more about the condition of the property. The result of this home inspection could impact the sale, especially if the inspection uncovers significant issues. The buyer can use their home inspection to negotiate purchase price, or even walk away.
With a pre-listing home inspection, sellers can get ahead of issues and gain more control at the negotiation table. To get the most out of pre-listing inspection, home sellers should prepare the home ahead of time. This means making sure all areas of the home are safely accessible, and taking care of any known maintenance items.
Pre-Listing Inspection Benefits
Allows You Time to Do Necessary Repairs
Most homeowners have a general idea of which part of the house needs repairs. However, a thorough pre-listing home inspection could uncover more issues requiring your attention before the buyer agrees to a deal. And most transactions usually involve a limited time frame to complete agreed to repairs. So, waiting for the buyer’s home inspection could imply you’ll have to work on a tight schedule to fix the issues if you don’t want the sale to fall through.
With a pre-listing home inspection, however, you can work at your own pace and even go the DIY route without any deadline breathing down your neck. You could even do some improvements while you're at it to drive up the value of your house.
Helps You With Pricing
When pricing a property, even the most experienced real estate agent wants all relevant facts considered. Variables like current market prices, comparable sales, and listings in your neighborhood, as well as the state of your property, contribute to an accurate appraisal. This information allows you and your agent to find the market sweet spot: not too high that it drives buyers away and not too low that you get the short end of the deal.
When you understand the condition of your house upfront, you help your cause. If the house is in pristine condition, you hold a bargaining chip. But if you know you need repairs, you can use price as an incentive for the buyer. Either way, you arrive at a price that you and your buyer can both be happy with.
Leaves Less Room for Negotiation
If you ask REALTORS® what’s their least favorite part of a transaction, they will tell you it’s the renegotiation. When property problems crop up during inspection, buyers will usually use this to gain more concessions.
Buyers are going to spend a hefty amount of money in buying your house, so they need to make sure they’re getting the value for their investment. With a pre-listing home inspection, you mitigate this hurdle with preemptive actions. You could take care of the repairs yourself or factor in the price of additional fixes when pricing your home so that there is one less reason to drag the negotiation longer.
Speeds Up the Sales Process
Having a pre-listing home inspection allows you to overcome hurdles before they become full-blown obstacles. You have covered your bases, now it’s all up to your sales agent’s selling prowess and market conditions to move the process forward.
You can confidently say that your property is worth every bit of the buyer’s money with proof to back up that claim. With reasonable price and most of the repairs taken care of, there are two items off the contention points.
Increases Buyer’s Confidence
There’s nothing that encourages buyers’ confidence more than a detailed report of the current condition of the property before they do their own inspection. Buyers are often inundated with lots of choices. Naturally, they could harbor a healthy dose of doubt especially when they’re presented with only the good points of the property.
A pre-listing home inspection can do wonders in mitigating those niggling thoughts. And they can be convinced to go ahead with the next step in the process when they know that you’ve done your due diligence. Now, it’s up to them to do theirs.
Helps Avoid Unnecessary Stress
Selling a property can be a very stressful process, no doubt about it. There are lots of variables at play for a sale to come through. You worry about market conditions, buyer’s interest, or if your listing is compelling enough. Many anxious thoughts can keep you up at night but worrying if the condition of your property could meet expectations doesn’t have to be one of those things.
You have done your inspection, you’ve given full disclosure, so you can come to the negotiation table with more confidence. Plus, there’s less likely any 11th-hour surprises that could possibly impede the success of the transaction.
Favors Your Agent
It’s your real estate agent’s job to sell your property and most agents will agree to do it even without a pre-listing home inspection. However, you rack the odds in your favor and help your agent get the job done faster with one.
With a detailed report on the property, your agent can be more confident in highlighting your property's selling points. And confidence begets confidence. Thus, your listing would attract more interested buyers.
A pre-listing home inspection may seem like an additional unnecessary expense. But the journey of closing a deal can be a long and tedious one. This proactive approach is a wise move that puts you ahead of the game while ensuring a win-win outcome for you and the buyer.
If you are looking to sell your house and would like to schedule a pre-listing home inspection with a WIN Home Inspection expert near you, please click here. Alternatively, for more information or for help with a residential home inspection, please call (800) 309-6753 or email us at firstname.lastname@example.org and one of our experts will contact you promptly.