Pros and cons on having a pre listing inspection done before listing
Precision property inspections is here to help you with the low down on pre-listing inspections. As a seller having a buyers inspector pick your house apart may not seem like your idea of a good time. But what if i told you there was a way to save you not only stress, anxiety, sleep and most importantly money in your selling journey. The best way to make the inspection process painless, is to have all the information you can ahead of time so lets get to it!
Now we know that sounds like a no brainer statement but think about it for a second. One of the biggest fears is having someone pick your home apart and tell you everything thats wrong with your home. But having a neutral, unbiased third party tell you the true condition of your home the good and the bad which are all gonna come out one way or another. We are all guilty of the "ill get to it" list and when you see them everyday they tend to be forgotten about. So having the information from a pre listing inspection you wont be surprised when issues do come up. It will not only help you but the agent as well.
2. Minimizing stress
Selling your home can be a stressful and anxiety filled time. Worrying about what the buyers inspector will find or deem inadequate quality. What if they uncover something the buyer is not willing to deal with or something you may not be willing to fix. Fortunately you can get in front of those feelings and replace them with confidence knowing the issues at hand and what you gonna be looking at. It will go faster than you think, you will look back at the selling and think it really wasn't that bad.
3. Making repairs
Agents will definitely ask you to make certain
repairs before listing your home. The buyers
inspector will uncover deficiencies, and for the
most part, they will ask for repairs to be made or credit made to the price of your home. This is the biggest hurdle sometimes trying to make repairs before closing which is usually 10 days from when the inspector comes in. So now your left scrambling to make repairs in 10 DAYS! So fire up the phones and find a contractor that can make repairs in that time frame is like pulling teeth. But you got a pre listing inspection so now your sitting on your porch sipping coffee, feeling confident of the repairs you already made. If your not the hammer swinging type you had plenty of time buy shopping around and finding a reasonably priced contractor to complete the work needed.
4. Pricing your home
Determining an accurate price point for your home can be a very challenging part of selling a home. It takes agents experience and skill to set the price accordingly. Too high and it will make buyers think they cant afford your home and to low and your leaving money on the table. Doing a pre listing inspection ensures you and you agents have all the facts on your home before setting a price you will both agree on. Theres a fine line with pricing and being armed with the facts are the key to any successful sale.
5. Improving the buyers confidence and lowering their suspicions
Buyers are skeptical by nature and are always looking to save money it's just human nature. So don't be upset when they are suspicious. But when you show them a pre listing inspection report it lowers the skepticism by leaps and bounds knowing that a qualified professional has went through the home. Showing the issues that he or she has found and that repairs were made shows that you are a trustworthy homeowner and have made the effort to take care of your property. The offer they make, with the information you have given them will reflect it.
Buyers will use their home inspection and the thing that have been uncovered as a means of negotiating the price of your home. More often than not the buyers will ask for credits they shouldn't "knit picking" as they call it. And this is from not receiving the proper advice from the buyers agent. Keep calm this is just another part of the journey. It can become extremely aggravating if you dont see eye to eye with the buyer which is not uncommon either. They are trying to save money anywhere they can remember human nature, we all want a deal. Negotiations may still occur but the likelihood will decline greatly!
Cons to having a pre listing inspection
Yes. there are a couple, so let's run through them i know you are tired of reading all this by now but information is king so let's go!
1.You will have to pay for it.
Inspections are not free and professionals expect
to be paid for their time and knowledge. But the
costs far outweigh the information obtained
from a pre listing report can save you thousands
in the negotiations. That dose not mean that the
buyers still wont have their inspector go through
the home. There are additional services you may
want the inspector to do or go over and those will cost additional monies. Examples are radon, well testing, pools, lead paint, asbestos to name a few.
2. Disclosure laws
Disclosure laws very greatly from state to state.
Some states require full disclosure and some do not require it all. It really all boils down to doing the right thing. How would you feel if you were buying a home that someone was hiding problems? That is disclosure. Real estate agents are held to a higher standard and must disclose everything to buyers if they are aware of problems. So its the best practice to just bring the problems front and center and overcome them.
Well hopefully we have helped you in your search for information with selling your home. We live for your feedback so let us know if it was helpful or wasn't worth the read either way by just clicking on the photo below, and it will take you there. We wish you the best and hope selling your home was made easier by having proper information. The Precision property inspections family.