BiggerPockets

Pre Sale Home Inspections Smooth Transactions

In today's buyer-friendly real estate market, a seller needs every Advantage he or she can get. One way to improve the position of your home in this marketplace Is to hire a professional home inspector to perform a pre-sale or pre-listing inspection. Armed with this information, the seller may opt to make repairs, or to disclose the defects and adjust the asking price accordingly. Either way, the potential for deal breaking discoveries at the tail end of the sales process is reduced.

As a seller, you might ask, "Why would I go to the extra expense of a home inspection when the buyer is going to hire her own inspector anyway?" The answer is simple. Anticipating issues that may be raised by the buyer's inspector can actually save you money and help you avoid every seller's nightmare - having the deal fall through at the last minute due to unexpected problems.

In the best of times, problems uncovered by the buyer's inspector can cost seller money and delay closing. In today's market, buyers can afford to be even more demanding. A buyer may Demand a reduction in price that is greater than the actual cost of repairs.

Or, if a seller is asked to make repairs, they will need to be made on the buyer's rather that the seller's terms and the seller will need to act quickly and will not have the advantage of shopping around for competitive bids from contractors. You could waste a lot of money by being forced into paying for a rush job at the last minute. By correcting problems in advance, your home is made more attractive to prospective buyers and repairs have cost you less.

Often it is not the severity of the defects, but the sheer number of defects listed that turns a buyer off.

If you choose not to make repairs, a buyer is more likely to accept a home "as is" if the defects are disclosed in advance and reflected in the asking price than if they are discovered after a price has been set and agreed upon. Also, an inspection report that reveals no major defects may help substantiate a higher asking price. A pre-listing inspection will help you to price your home correctly - an absolute must in today's market.

A pre-listing inspection adds credibility to a seller's disclosure and tells buyers that you are a conscientious seller. If a buyer is torn between two houses, they may feel more comfortable with yours.

If you decide that you don't wish to get a pre-listing inspection. You might as well take a trip to VEGAS. As, It appears to me you like gambling with your money.

The home inspector is going to find something. No mater how much you prepare your house, he will find something. Don't take it personally.

Here are the top ten things to do before getting a home inspection.

1 - Replace any light bulbs that are burned out.
2 - Clean your gutters.
3 - Trim any trees or branches touching the roof. 12inches of clearance recommended.
4 - Caulk the joints on your trim around windows and door.
5 - Make sure all your downspout have diverters under them.
6 - Make sure your disposal and dishwasher are working properly.
7 - Caulk around your tub and shower if needed.
8 - Change your filters for you HVAC system
9 - Make sure all your windows and doors open and close properly. Make adjustments as needed.
10 - Remember all the stuff you dumped in the attic and garage to make your house more roomy. The inspector will need to get in there. Don't block areas that the home inspector will need to access.

Comments