7 Benefits of Pre-Listing Inspections
A pre-listing inspection is one of the many things that a seller can do to make their home not only sell faster, but to gain the trust of potential buyers and their agents.
First, what is a pre-listing inspection?
Simply, it is the same as a regular home buyer’s inspection, only the seller has an inspection done on their own home before they list it for sale. Sellers often do this to get ahead of potential repairs and make their home more appealing.
The inspection is the same as any other home inspection, with the inspector taking the time to look at each component and system of the home to ensure that it is working properly and that there are no major problems.
While the buyer is typically the only one who has a home inspector look at the house during a real estate transaction, it is becoming more and more common for sellers to have an inspection as well.
It may seem like it is unnecessary to have a pre-listing inspection to some, however there are many reasons why it is recommended for sellers to do. Here are seven reasons why homeowners are beginning to get pre-listing inspections.
1. UNDERSTAND THE CONDITION OF THEIR HOME
When a homeowner decides to list their home for sale, typically they have owned the property for a couple of years and know if there are problems, which they may either choose to fix or not fix when they sell the home. These problems are usually disclosed to potential buyers when they are looking at the home, which is not a problem.
However, when the buyer is getting their own inspection, they may find that there are a lot of problems with the home that the homeowner was unaware of. The buyers might back out of the sale, or demand that the seller fix them before the deal goes through.
This happens frequently, and is a huge reason why sellers have begun to get their own inspections. If they know about these problems before, they can get them repaired before listing, or can adjust the asking price of the home accordingly.
A pre-listing inspection decreases the chances of the buyer finding hidden defects and backing out of the deal.
2. ABILITY TO DO REPAIRS PRIOR TO LISTING
If the home inspector does find defects during the pre-listing inspection, the seller will need to make the decision of whether to fix them or not. If the seller does decide to fix the defects, they have the freedom of making decisions.
Sometimes when a buyer’s inspector finds these defects, they want to have their own contractors fix the problems with the home, but on the seller’s dime. This often results in contractors hired for more money than they should be, with preferences that the buyer wants and that aren’t always necessary.
Getting a pre-listing inspection can save the seller money, because they have the ability to price out various contractors, materials, and time frames depending on their preferences.
Once the repairs have been done, the receipts can also be used when the house is listed to justify the price of the home during negotiations with buyers.
3. THE BUYER MAY ACCEPT THE RESULTS
If the home inspector doesn’t find any significant defects during the pre-listing inspection, the buyer might decide that this inspection is sufficient for them and forgo getting their own inspection done.
Not only will this save the buyer money, but it will also save time. Selling and buying a home can be quite a lengthy process, and anything that can speed up the process is an advantage to both parties.
Stating that the home has already been inspected in home listings may also make the home higher in demand for buyers compared to those that have not. Although buyers may still choose to get their own inspection, they can compare theirs to the seller’s. This will allow them to have complete peace of mind with the purchase of the home and may also mean that they don’t counter-offer prices when negotiating the price.
4. COMPARE RESULTS
Getting a pre-listing inspection from a trusted inspector is a huge advantage to a seller, because they have the ability to compare the results.
This essentially means that if the buyer also decides to get their own home inspection and the results come back with many more defects than the seller’s, the two inspection reports can be compared.
The seller can have their inspector come back out and look at the defects the buyer’s inspector found, and verify if they missed one, or if the inspector is being dishonest. While this doesn’t happen frequently, it can save the seller money in negotiation costs if the defects are not as bad as they were made to be in the buyer’s report.
5. GAIN CREDIBILITY AND TRUST OF POTENTIAL BUYERS
This is one of the biggest reasons why sellers have begun to get pre-listing inspections, and that is to gain rapport among potential buyers. The best way to sell a home quickly and efficiently is to have the buyer trust you and your agent.
A house is a huge investment, and is one of the most important and costly things that people will buy throughout their entire life. This is why buying a home is such a long and carefully thought-out process for most buyers.
Anything that a seller can do to gain the trust of buyers is an advantage over sellers who do not do this, because buyers want to feel safe and secure in their decision to purchase your home.
Many homeowners may choose not to get a pre-listing home inspection, and if your home is one of the only ones on the market that has one, this makes your listing more competitive with buyers.
Buyers want a home that is safe and secure, and a pre-listing inspection ensures just that. It also means that they might not have to get their own inspection, which can save time and money, and is attractive to buyers as well.
7. HELPS MAKE YOUR AGENTS JOB EASIER
Selling a home involves a lot of work for the realtor, and while this isn’t necessary for a good agent to sell a home, getting a pre-listing inspection can make their job a lot easier. This is because they have to worry about pricing the home correctly, finding the perfect buyer and also making sure that you are selling your home at a price that it is worth.
A pre-listing inspection can help the agent make sure that the home is priced correctly, plus they can use the fact that it has been inspected already as a selling point.
If you want to ensure that your you have done everything that you can to sell your home quickly and efficiently – and at top dollar – getting a pre-listing inspection is a great way to do just that.
While a potential buyer will likely still choose to do their own inspection, the cost of the inspection is still worth the small price you will pay for it.
Not only will it give you peace of mind, but it will allow you to gain rapport with buyers, and give you an advantage over other sellers before your home even hits the market.