The world of real estate can be unpredictable. When you’re selling a home, finding the right buyer isn’t always a walk in the park.
Even if you find someone who wants to buy your house, it doesn’t mean they’re qualified to do so. Whether a buyer does something unwise with their finances, committed tax fraud, or simply decides to back out, a house sale can fall through at any time before closing.
However, there are things you can do to make it go as smoothly as possible on your end. A pre-listing inspection can do just that. While it’s traditionally paid for by a potential buyer, you can save time and money by taking care of it yourself.
Keep reading for all the best benefits of getting a pre-listing inspection done on your home.
1. Save Time in the Future
Getting an inspection done on your home before listing it on the market can save you a substantial amount of time in the future. Not only will your home appear more move-in ready to buyers, but you’ll also know ahead of time if any work will need to be done.
For example, when a buyer hires an inspector, there’s usually a waiting period (one to four weeks depending on your location). Additionally, if the inspector uncovers anything of significance, it could delay the sale or give the buyer a reason to back out. In this case, you’ll have to find a whole new buyer.
2. Choose Your Own Inspection Agency
One of the main benefits of opting for a pre-listing inspection is that you’ll be able to choose your own inspector. This allows home sellers to schedule a time of their choosing, so they can be sure to be available during the inspection.
It may be important for you to be there to witness the inspection, take notes on any negative points, and ask questions. The inspector should be able to shed light on any issues that are severe enough to warrant repairs or renovations before you sell and what will be up to the buyer’s discretion.
3. Understand Your Situation
Getting a pre-listing inspection done on your home may be vital for moving forward. For example, if your home is in significant disrepair, you may not be in the best position to sell your home right now. It might be best to live in the home for another year or two while you can take care fo the necessary damages.
If you’re committed to selling the home and moving, you may need to explore other options, such as selling to cash home buyers, house-flippers, etc. On the other side of the spectrum, this inspection may give you the go-ahead you needed to charge top dollar for a home in pristine condition.
4. Make Repairs and Renovations
If a buyer schedules the initial inspection and uncovers negative issues, you’ll be on a timeline to get the work completed. Taking too long can result in the buyer losing interest and looking at other homes. This can be stressful and potentially cause financial strain on your household.
Alternatively, a pre-listing inspection could give you the time and space you need to make the necessary repairs before putting your house on the market. No timelines, no rush, no worries.
5. Have a Leg Up on Negotiations
Another important aspect of the home inspection is the leverage it gives one side or the other. As the homeowner, you need to make your home is as appealing as possible. The more immaculate your home is, the more leverage you’ll have for a better asking price.
Buyers tend to become disenchanted with a home if the inspection comes back with a lot of issues. It may even scare them away. Most importantly, it gives them a reason to negotiate for a lower price.
If you don’t budge on the price, they may demand that you fix the issues, pay all closing costs and/or realtor fees, or throw in extra perks (furniture, appliances, etc.).
6. Avoid Nasty Surprises
The last thing you want when selling your home is to have everything in the bag only to be surprised by a failed home inspection. What do you do now? You don’t even know if the buyer is going to stick around.
Unfortunately, negative home inspection results can interrupt a lot of your plans. For example, if you have a contingent offer on another home based on your current home selling, that may no longer be an option. Getting a pre-listing inspection won’t change the results, but it will put you in a better position to deal with them.
7. Accurate Pricing
Pricing your home accurately can be done by researching the price of homes in your neighborhood that have sold recently. Compare and contrast your home to theirs (size, age, quality, amenities).
However, your price can also vary greatly based on the condition of your home. Knowing your home’s exact condition is vital for pricing it accurately to attract the right buyers.
8. Boost a Potential Buyer’s Confidence
Recent data shows that 87 percent of consumers research products online before they buy. This includes the real estate market. People love going online, viewing all the listings, and looking at pictures of houses while they imagine themselves living there.
Unfortunately, this type of shopping makes it easy for homes to be overlooked if not forgotten. If you opt for a pre-listing inspection, however, your home will inspire confidence in buyers. They’ll see that the home is move-in ready, rather than needing to hire their own inspector and nervously await the results.
9. Have Peace of Mind
Finally, hiring a professional to inspect your home before you put it on the market provides you with peace of mind. You won’t have to worry about any nasty surprises in the future, you can avoid untimely setbacks, and have plenty of time to fix any issues that do arise.
Do You Need A Pre-Listing Inspection?
If you’re thinking about putting your house on the market, consider getting a pre-listing inspection first. Schedule an inspection today and we’ll tell you what you need to know about your house.
And before you go, be sure to look through some of our other articles on preparing your house for the market, making repairs, and more.