Pros and Cons of a Pre-Listing Home Inspection
Before buyers purchase homes, they perform home inspections. It is an accepted part of the home-buying process because it protects buyers from acquiring properties with hidden problems. Keyrenter Buxmont in Mongomerty advises homebuyers to rely on the outcome of the home inspection to make their final decision. Depending on the inspection report, they may decide to go ahead with the purchase, renegotiate the price, walk away from buying it, or request the seller perform repairs before acquiring the property.
That often leaves sellers in an unpredictable situation that you will not want to experience. It may even get worse if buyers walk away from the deal because the home will stay longer in the market. During this time, the owner will spend money on maintenance. Also, the property’s value may be decreasing.
When the home selling process gets to the inspection stage, sellers are often anxious because they do not know the condition of their property. They are afraid that home inspectors may discover something terrible that will scare buyers away.
However, you can prevent this and take charge of the process. To do this, you need to inspect your property before listing it. Doing so will give you the necessary information about the actual state of your home.
What is a pre-listing home inspection?
Property owners request a pre-listing home inspection before listing it. Professional home inspectors will perform a deep and systemic home assessment using a checklist of about 1600 items. With this, you will know the actual state of the property. It differs from the superficial walk-through inspection by property owners that assess only the aesthetics.
Pros of a pre-listing home inspection
1. It gives the buyers more confidence in the seller
If buyers know that you did a pre-listing inspection on the property, it boosts their trust in you. That is because they know that you will disclose all the issues in the inspection report. The law mandates that homeowners disclose every problem that the inspection report reveals. It shows the buyers that you are transparent and buyers will not come across unexpected issues in the future.
2. It gives you a report about the property’s condition
Most times, homeowners do not purposely sell houses with hidden issues. That is because most damages will remain hidden from the untrained eye and only a professional home inspection can uncover them. The owner may reside in the property for years without knowing when or where it developed problems. They only get to know about those problems when it affects the home’s functionality, or a potential buyer conducts a home inspection.
3. Ease the selling process
When you have a pre-listing home inspection, you will know how to market the property. That is because you will provide buyers with accurate answers when they make different inquiries about the property. As a result, the home selling process becomes effortless.
4. Less stress or anxiety during the sales process
When it gets to the home inspection stage, buyers wield more power and tend to be in control. Here, the home seller will be at the buyer’s mercy if they discover issues. This stage can create anxiety for the seller. However, that is not the case when you have a pre-listing inspection. It provides you with prior knowledge of the property’s condition. As a result, you will still be in charge of the sales process.
5. Accurate pricing of the property
The pre-listing home inspection reveals hidden problems with the house. With it, you will consider uncovered issues when fixing the home’s selling price. The homeowner doesn’t need to repair every issue before selling the property. However, the inspection helps the seller to set a competitive price.
Cons of a pre-listing home inspection
1. It does not replace the buyer’s home inspection
Having a pre-listing home inspection will not stop the buyer from performing their home inspection. That is because buyers will want a second opinion from a different source. It means that your property will have two home inspections.
2. It will cost money
There are several expenses you will incur during the home selling process. A pre-listing home inspection will add to it. Depending on the location and details, the pre-listing inspection may gulp between $100 and $200. Some sellers may not want to incur more expenses.
3. It may prompt repairs
If homeowners discover issues after the pre-listing inspection, they may have the urge to repair them. Sellers often want to maximize profit by avoiding additional expenditures when selling a property. But if sellers avoid a pre-listing inspection, they will still pay for it because buyers will renegotiate for a lower price when they uncover the issues.
Bottom line
When you have a pre-listing inspection of your property, it helps you adjust the home’s price accordingly. As a result, you will leave a lesser room for buyers to renegotiate for a lower price or walk away from buying the home.
