Lets look at the Pros of a Presale Home Inspection.
Pre-sale home inspections are become more and more popular for home sellers in the Madison area. The process is fairly simple, the seller will hire a home inspector and have the property pre-inspected before putting the property on the market. There are several pros to why a pre-sale inspection is ordered before a pre-closing inspection:
1. The exact condition of the home is known.
A looming fear for seller is the that the home inspector will not find any problems that will require remediation, or worse yet, compromise the sale of the property.
Of course this is only effective if the pre-listing home inspector is able to catch the issues at hand. A trained inspector with years of experience is more likely to point out potential issues that will raise red flags when the buyer has it inspected.
Sellers can order the home inspection and get ahead of any issues that are found and could be fixed at their discretion and leisure, rather than at the request of the buyer. The type of replacement materials and contractor of choice can be made by the seller and repairs tend to be a little more cost effective when not rushed. That brings us to our next point…
2. Repairs can be made.
It is always best to make any major repairs before listing the home, so that the listing price can be maximized. Depending on the repairs, a home may become more sellable, since the majority of buyers do not want to move into a house and then have to go through a major repair right away. This is especially true with radon testing.
Normally when there are repairs needed on an accepted offer the repairs need to be completed before the closing. This forces sellers to scramble and limit their choice of contractors and sometimes paying a premium for the quick repair work. With a pre-listing inspection, the repairs can be completed on the sellers schedule and with a contractor of their choosing.
3. Maximize Home Price.
Working with a qualified realtor to research the market and comps helps maximize the home price. Also the knowledge that the home is in great condition (or will be after repairs) will help establish the proper value for the home. Pre-listing inspections can actually help realtors with figuring out the correct listing price.
4. Minimize negotiations.
When all the cards are on the table, it is hard to play new cards, without being called out for cheating. Buyers are negotiators and any defects found in a home inspection opens up Pandora’s box of price negotiating. They say that if one problem is found, ten more will follow. A couple hundred dollar inspection can save thousands in unneeded price drops.
5. Minimize stress.
Not knowing the condition of the home has some underlying stress with it. The process of selling a home, moving furniture, maybe buying a new home…can take its toll on the mind and body.
Determining if repairs are needed, minimizing price negotiation opportunities, maximizing listing price, all play into relieving this stress.
6. Prevent Buyers Remorse and maximize offer.
When a potential buyer receives a good bill of health for a home, their confidence level is higher. Home buyers have all heard the horror stories and shy away from any potential and unknown problems that they see. Although most buyers will order another inspection, they are usually at ease until then. Knowing that a qualified inspector has already looked over the house usually results in a more confident offer.
The biggest hurdle, next to financing, is the home inspection. The real estate transaction can be made smoother with a very simple low cost home inspection. Knowledge is power, and as a seller it is better to hold the power than the buyer.
Don Hopkins Home Inspection was built on the 15 years of working in the construction industry. I strive to make sure every home inspection is thorough and methodical. No two home are identical and neither are my inspection reports. Minimize stress and maximize your listing price by contacting me for a Pre-Listing Home Inspection.