Whether it’s a buyer’s market or a seller’s market, if you are ready to sell your home and want to ensure the sale process will go smoothly and quickly, you may want to consider a pre-listing home inspection. A pre-listing inspection, which is paid for by the seller or listing agent, provides a written report as to the pre-sale condition of the property. It could potentially uncover any concerns that might compromise a sale.
Sellers who have a home inspection upfront can identify any major problems that could potentially derail a sale later on at the closing table. Any major repairs can be addressed beforehand. Doing repairs ahead of time might also be more cost-effective than having to pay a buyer’s own licensed contractor do the work.
Some real estate professionals say that having a home inspection prior to listing can offer several benefits to the seller. Normally, the buyer has the upper hand when they have an inspection, if you are willing to do it ahead of time, you give the control back to the seller.
How Does a Pre-Listing Inspection Work?
Normally, the pre-listing inspection is performed before the home is listed on the market. This allows prospective buyers to see the condition of the home before any negotiations begin. However, having the inspection performed after negotiations can cause all kinds of issues for the buyer due to any possible repair issues found. Essentially, a pre-listing inspection can greatly benefit both the buyer and the seller by reducing the odds of an unexpected hitch in negotiations due to the condition of the house.
The inspector will conduct a typical inspection and create a report, and the seller may choose to have a one-page overview prepared for easy reference. The seller and real estate agent then review the report for approval, and may choose to adjust the listing price or other factors, such as what repairs are needed, who will complete and pay for any needed repairs, and a final inspection timeline, based on the report received. Then, the report will be published and made available to real estate professionals and prospective buyers.
While a pre-listing inspection will not head off every potential deal-breaker issue, most agree the benefits outweigh holding off on the inspection until after contract acceptance.
Aid as a Pricing Tool
Having a completed inspection report from a certified inspector will help the seller arrive at a realistic listing price. If for some reason, for example, the HVAC system shows significant wear and tear and will need to be replaced before the next winter season, you should take that into consideration when pricing your home for sale. As issue like that, would fall into the “as is” clause of a contract where the seller doesn’t have to fix the issue, but it needs to be mentioned in the inspection report and/or contract.
Make Needed Repairs Ahead of Time
By identifying possible issues early on, the seller is in a position to handle repairs prior to listing, making the listing more attractive and the property easier to sell. This may mean more money to the seller and a faster sale. Making repairs ahead of time will limit any disagreements over repair issues during the negotiations. If the seller decides not to repair certain defects that turn up in the inspection, they can disclose the issues to potential buyers in the disclosure documents.
Provide a Feeling of Confidence to Potential Buyers
With a clean inspection report in hand after viewing a property, potential buyers may feel more comfortable in moving forward with an offer. When a buyer can see there are no major issues in the property to be addressed, it is easier for them to determine how much they can comfortably spend on the house. If there is a problem that needs to be addressed, they buyers can write an offer that will reflect the cost of the needed repairs, or they can ask the sellers to complete any needed repairs.
Real estate professionals as well as inspectors in today’s markets advise one of the best things sellers can do to facilitate a sale is to conduct a pre-listing property inspection, and have the inspection report readily available for any potential buyers.
The pre-listing inspection can be used in two ways. It can allow the seller an opportunity to address and correct an issue before the home is listed, as well as provide insight on how to more accurately and fairly price a house. The pre-listing inspection can then be included as part of the offering package to be discussed during negotiations. The more information buyers have going into the negotiations the more likely the result of a successful contract agreement.
At Georgia Pro Inspection Company we serve all of Metro Atlanta with reliable home inspection services. We perform detailed home inspections and provide easy to read information with illustrated reports regarding your home. Call us today at (770) 655-0536 for your more information.