Benefits of a Pre-Listing Home Inspection
Sellers may not be aware that they are able to get a pre-listing home inspection before they put their home on the market. Even when a seller does know that they are able to conduct a pre-listing home inspection, they choose not to do so because it is an expense that they must take on themselves. The reality is that there are many benefits of a pre-listing home inspection.
Home buyers often add the completion of a successful home inspection as a contingency to an offer on a home. A buyer then has the power to negotiate with the seller regarding who will pay for necessary repairs that are brought to light from a home inspection.
If a seller conducts a pre-listing home inspection, they may reduce the likelihood of having a sale fall through or some of the complications that come from a buyer’s home inspection.
What are the Benefits of a Pre-Listing Home Inspection?
When asking this question, there are some key things to consider:
1. Pre-listing home inspections allow the seller to make repairs and fix problems before the home inspection.
By conducting a pre-listing inspection, the owner would be made aware of issues that will come to light in a home inspection, and have the opportunity to fix problems before the final home inspection is conducted. This makes it easier to sell a home. Even if the seller decides they do not want to make the repairs, they are at least aware of the problems and can fully disclose the problems to the potential owner. It allows for more leverage in negotiation because the seller is prepared.
2. You’ll ensure a smooth, efficient transaction.
When a seller finds out that issues were discovered during a pre-listing inspection, they can then fix the problems ahead of putting their home on the market, or, they can be well equipped to disclose such issues. Either way, this will prevent the buyer and seller from becoming engaged in extensive negotiations after the buyer has a home inspection conducted. The buyer will not be surprised by anything and they will be less likely to walk away from buying the home or insisting on a lower home cost.
3. It allows you to more accurately price your home.
If a seller chooses not to fix issues that were revealed during a pre-listing inspection, they can then factor these repair costs into the asking price of the home. The seller can tell the buyer that they are aware of the issues, but have considered this in a lower home asking price. If the seller chooses to fix these issues, they can then tell the buyer that it warrants a slightly higher cost because they addressed issues found in a pre-listing inspection.
4. It will save the seller money.
When a buyer initiates a home inspection, the buyer and seller will need to enter into negotiations to decide who will cover the repair costs. When a problem is found during a buyer initiated inspection, the buyer will sometimes overestimate the costs of the repairs. The seller will be more likely to lose money than he or she would have if they had conducted the inspection and made the repairs before the home was listed.
5. It makes the seller more trustworthy.
InterNACHI calls a pre-listing inspection “the ultimate gesture in forthrightness on the part of the seller.” The buyer can feel more confident that they are making a deal with a trustworthy home owner when issues are disclosed prior to the sale of a home.