Pre-Listing Home Inspections
It is advantageous to the seller to have a home inspection before placing the property up for sale.
Benefits of a Pre-Listing Inspection
- Having the property inspection performed up front is beneficial for both for the buyer and seller.
Fewer surprises means less opportunity for disagreement and less likelihood that the transaction will fall apart.
- Appropriate repairs that are made up front, will help you home will show better and may draw a better price
A pre-listing inspection can bypass having to negotiate repairs within the limited escrow period. (If the seller may have already purchased another property, this could quickly become a problem). This is in the weakest negotiating position. Limited availability of qualified tradespersons is a common hurdle for sellers, due to constricting timeframes during the escrow period.
- The buyer will know what will or won’t be fixed before entering into a contract.
A pre-listing inspection can serve as a valuable tool to help set/adjust a realistic and competitive sale price.
- By getting the pre-listing inspection up front, the seller may choose with whom to have the work done. A handyman can often times be used for some corrective work. Typically, however, repairs to electrical, heating, plumbing, etc. require the increased knowledge of a licensed professional.
Typically, once both parties enter into a contract, contractors will be required for all repairs. This will cost more, especially if requesting priority service.
- Often times, like material will be required for repairs once a contract has been entered. If any materials need to be replaced, after the offer is accepted, he/she will likely have to replace them with the same type and quality of materials. Before entering into a contract, the seller can choose less expensive materials, resulting in a possibly significant cost savings.
Your home may have undergone extensive remodels, additions, and modifications over the years by various contractors, tradesmen, and handymen. Knowing whether or not this work was completed and meets industry standards is vital before placing the home on the market.
- By the seller obtaining an inspection up front, it demonstrates good faith in carrying out the sellers disclosure. The sellers (pro-active) effort communicates to the buyer that the seller is willing to disclose something rather than hiding information; thereby paving the way for smoother and more agreeable negotiations. Both parties prefer a smoother transaction with increased trust, and less anxiety and headaches for all parties involved in the transaction.Before accepting an offer, the seller is in a stronger negotiating position.