A typical home inspection is a buyer’s inspection. This is where the buyer orders an inspection on a property after they have gone under contract to determine if there are any major issues that were unknown. Many times this leads to additional negotiations between the buyer and seller. The worst case scenario is that the deal falls apart based on what is found or it can severely delay closing. However, a pre-listing inspection can help avoid all of this.
Here are some reasons you may want to consider inspecting before listing:
1. Avoid Delays to Closing
Once you are under contract on your property it can be an exciting for the seller, but it is not over until closing is complete. In between contract signing and closing many things can come up that may have a negative effect on the deal. One point in the transaction where things can be hurt is the home inspection. With a pre-listing inspection you can know what to expect when the time comes and also have the ability to make any repairs that may be needed prior to listing.
2. Be Prepared for Buyer’s Findings
When the buyer does their home inspection it is typical that something is found. In some cases, the seller may believe that the issues that are found are not valid. However, with the transaction timeline being tight, there may be limited time to fully have the issues looked at a second time or get proper estimates that may help to save on the cost of repairs. With a pre-listing inspection the seller will have their own report to utilize when it is time to dispute any issues that might have been found by the buyer’s inspection if they do not agree. Also, it will give the seller time to get multiple estimates and prepare for the buyer’s findings if the seller does not plan on making the repair.
3. A Better Seller’s Disclosure
A standard seller’s disclosure is a form filled out by the seller to the best of their knowledge on items such as HVAC and the roof. The seller can list the age and condition of these items if they know them. However, in some cases they may be uncertain or the systems may have been in place from previous owners, so they will not fully be aware of the details. A pre-listing inspection can educate the seller on the condition of these items as well as what the age may be. This can serve as marketing material and copies can be provided to potential buyers who will see it as reassurance of the condition of the home.
4. Overall Peace of Mind
While a pre-listing inspection is an option for sellers, it can give peace of mind going into a sale. Many sellers focus on cosmetic issues when preparing to sell but should consider thinking about the things they cannot see as they may be the costliest if there is an issue.