Many sellers may ask themselves, “Why would I pay for something the buyer is going to do anyway?”
Having the home inspected before putting it on the market is becoming more popular. There are many benefits to paying for a home inspection before the buyer looks at the home. Here are some of the pros and cons of having a home inspected before putting it on the market.
What condition is the home in? The home may need some maintenance or repair. What if the home is part of an estate(inheritance) and the seller doesn’t know much about the home. These items may make the home appear unattended to and raise suspicion about other maintenance items. Often fixing some of the smaller items can reduce the list of issues the buyer’s home inspector will find.
Pricing the home more accurately.We all want top dollar for our homes. However, when the repair list comes from the buyer’s home inspector, be ready for a surprise when the negotiations start hitting the table and your asked to drop the price of your home.
Reducing the Negotiations. The buyer will use their home inspection report as an opportunity to negotiate the price with the seller. Disclosing issues before going under contract can help to reduce negotiations that may lower the price of the home.
Minimize the Stress. What is the home inspector going to find?! Often a home goes under contract and the buyer gets a home inspection. The home inspector notes the home has Kitec, needs a new roof or new windows. This may scare the buyer away, terminating the contract and the next offer may be a lower offer. If the buyer knew about these issues going into the deal, the home inspector would just be confirming the issue not revealing it.
Build the Buyer’s confidence in the Seller. Often buyers are concerned that something is not going to be disclosed or they are about to buy the money pit. Hiring a third party to inspect the home and disclosing the unbiased information shows the honesty of the seller to disclose any information about the home. This can reduce the fear in the buyer and the chances they will back out of the deal.
Get more Buyers to look at your home. With the pre-listing inspection report, the buyers get to know more about your home than other homes that they can only see pictures of. This can help them get more of their questions answered about the home before going under contract.
What are the Cons of getting a Pre-listing Inspection?
You are going to have to pay for the inspection. Depending on the area the costs will vary. Some inspection companies offer discounts to sellers to have their homes inspected before going on the market.
You will have to disclose the information. What the inspector finds, you now know about the home. If there is a foundation problem or water damage, you will have to disclose this information to the buyer.
The home will be inspected twice.Two different inspectors may have different opinions on the condition of the home. It is common that the inspectors will have different findings from the home inspection.
Selling a home and buying a home is an emotional decision and can sometimes be stressful. Reducing the stress for both parties can help make the experience and transaction go smoothly with less surprises along the way. If your thinking about selling, we at Zsako Home Inspections are wishing you the best possible experience with the sale of your home.