Advantages of a Pre-Listing Home Inspection
We’re talking all about the advantage of a pre-listing home inspection today. It is a certainty that the Buyer will want a home inspection after a Contract to Purchase
Certainly, all buyers will want a home inspection after a contract to purchase. Serious consequences for the seller may arise, which is why there are advantage of a pre-listing home inspection.
For one, if a home inspector is hired by the Buyer, it will provide the buyer with a detailed report listing any defects, questionable areas, upgrade suggestions, and maintenance.
If significant problems are found by the Home Inspector the Buyer may:
* terminate the contract.
* or ask for an inflated decrease in the purchase price to have the problem fixed.
* or be so alarmed by the defect found, will terminate the contract without giving you the chance to fix it.
Whatever the buyer chooses it is likely that your house is back on the market and the problem is still there for the next buyer to find.
Everything changes if you the Seller do a Pre-Listing Home Inspection.
If a seller’s inspection is performed and significant damage or defects are found. There will be disappointment, but no hysteria or regret. No deal about to go sour. The agent will discuss the problems with the Seller and will determine if you should list your home “AS IS” with full disclosure, or if any repairs needed you the Seller then corrects any problem areas, and call for a re-inspection of the home, and the home inspector will then give you a clean report. Next, a Buyer enters a contract agreement with the Seller. The Buyer may choose to trust your home inspection or will have another inspection done. No major problems should be found by the second inspection. The deal coasts downhill to closing. Everyone is happy.
See How A Pre-Listing Home Inspection Benefits all parties in the transaction.
(You The Seller, The Buyer, and Both the Listing and Selling Agent)
Twenty Advantages of a Pre-Listing Home Inspection
We advocate a pre-listing home inspection because it benefits our sellers. Here’s why:
1. The seller can choose the inspector rather than be at the mercy of the buyer’s choice of inspector.
2. The seller can schedule the inspections at the seller’s convenience.
3. It might alert the seller of any items of immediate personal concern, such as radon
gas or active termite infestation.
4. The seller can assist the inspector during the inspection, something normally not
done during a buyer’s inspection.
5. The seller can have inspector correct any misstatements in the inspection report
before it is generated.
6. The report can help the seller realistically price the home if problems exist.
7. The report can help the seller substantiate a higher asking price if problems don’t
exist or have been corrected.
Even if a seller inspection reveals problems ahead of time, there are still 13 more benefits of a pre-listing home inspection. Keep reading!
8. Tells the Seller what needs to be done to make the home show better.
9. Gives the seller time to make repairs and shop for competitive contractors.
10. Permits the seller to attach repair estimates or paid invoices to the inspection report.
11. Removes over-inflated buyer procured estimates from the negotiation table.
12. The report might alert the seller to any immediate safety issues found, before agents
and visitors tour the home.
13. The report provides a third-party, unbiased opinion to offer to potential buyers.
14. Seller inspection permits a clean home inspection report to be used as a marketing tool.
15. A seller inspection is the ultimate gesture in forthrightness on the part of the seller.
16. The report might relieve a prospective buyer’s unfounded suspicions, before they walk away.
17. A seller inspection lightens negotiations and 11th – hour renegotiations.
18. The report might encourage the buyer to waive the inspection contingency.
19. The deal is less likely to fall apart the way they often do when a buyer’s inspection
unexpectedly reveals a problem, last minute.
20. The report provides full-disclosure protection from future legal claims.
Even though this article is intended to show the Seller the advantages of a pre listing home inspection the benefits to the Real Estate Agent and the Buyer listed below continue to benefit the Seller.
Advantages to the real estate agent:
1. Agents can recommend certified ASHI inspectors as opposed to being at the mercy of buyer’s choices in inspectors.
2. Sellers can schedule the inspections at seller’s convenience with little effort on the part of agents.
3. Sellers can assist inspectors during the inspections, something normally not done during buyer’s inspections.
4. Reports help sellers see their homes through the eyes of a critical, third-party, thus making sellers more realistic about asking price.
5. Agents are alerted to any immediate safety issues found, before other agents and potential buyers tour the home.
6. Repairs made ahead of time might make homes show better.
7. The reports provide third-party, unbiased opinions to offer to potential buyers.
8. Clean reports can be used as marketing tools to help sell the homes.
9. Reports might relieve prospective buyer’s unfounded suspicions, before they walk away.
10. Seller inspections eliminate buyer’s remorse that sometimes occurs just after an inspection.
11. Seller inspections reduce the need for negotiations and 11th – hour renegotiations.
12. Seller inspections relieve the agent of having to hurriedly procure repair estimates or
13. The reports might encourage buyers to waive their inspection contingencies.
14. Deals are less likely to fall apart the way they often do when buyer’s inspections
unexpectedly reveal problems, last minute.
15. Reports provide full-disclosure protection from future legal claims.
Advantages to the home buyer:
1. The inspection is done already.
2. The inspection is paid for by the seller.
3. The report provides a more accurate, third-party view of the condition of the home prior to making an offer.
4. A seller inspection eliminates surprise defects.
5. Problems are corrected or at least acknowledged prior to making an offer on the home.
6. A seller inspection reduces the need for negotiations and 11th – hour renegotiations.
7. The report might assist in acquiring financing.
8. A seller inspection allows the buyer to sweeten the offer without increasing the offering price by waiving inspections.