Regardless of how long you’ve lived in your home or how old it is, there could be unknown issues lurking under the surface that could derail a sale.
Getting an inspection before your home hits the market can help your house sell faster and save you money. Pre-listing inspections also let you know which parts of your home to fix before they become deal breakers for potential buyers.
A thorough inspection report included in your home’s disclosure documents can improve your bargaining power, letting prospective buyers know you’ve done your homework.
WHAT A PRE-LISTING HOME INSPECTION COVERS
Just like a buyer’s home inspection, a pre-listing home inspection checks major systems, mechanicals, windows, and doors and looks for signs of water damage, mold and cracks. You may also choose to pay extra for radon testing, well-water testing, internal mold testing or lead-paint testing.
BENEFITS OF A PRE-LISTING INSPECTION
In addition to mitigating some of the fears listed above, here are a few additional benefits of completing an inspection before listing.
Pre-inspections don’t only uncover negatives — they can also give you an opportunity to promote what’s great about your home. If your inspector gives you any good news — like your furnace has plenty of good years left or your sewer connection is in perfect condition — you can promote those in your listing.
Just making the results of your pre-inspection available to buyers is a way to build trust. Building trust with your buyer is especially important if you’re selling for sale by owner (FSBO), as you’ll be working with your buyer directly.
Valuable improvement advice
A pre-inspection can help sellers prioritize which improvements and upgrades to complete before listing. By following your inspector’s advice, you can update the parts of your home that are in most crucial need of repair and bypass less important upgrades. Remember, buyers aren’t just looking for cosmetic upgrades. They also want to know that your home’s major systems are in good shape. So if you end up replacing your roof, upgrading your HVAC system or installing new energy-efficient windows as a result of your pre-inspection findings, you’ll want to use those as selling points.
More negotiating power
When you already know the issues that are going to come up during the buyer’s inspection, you can price accordingly, which will give you stronger negotiating power. For example, if you’ve already factored the need for a new roof into your listing price and you make that clear upon receiving the initial offer, buyers are less likely to come back and try and get you to lower the price further.
Alternatively — but equally as beneficial — if your pre-inspection comes back clean, you will have more leverage when negotiating with buyers.
With all the information about your home (good and bad) already out in the open, you won’t have to worry about a lot of renegotiating once the buyer does their inspection. And if you opted to have the repairs done before listing, you also won’t have the stress of trying to fit in a bunch of repairs while you’re busy trying to pack and move.
You’ll attract serious buyers
If a buyer is already informed about what’s in your pre-inspection and wants to move forward with the purchase anyway, it’s a good sign that they’re a serious buyer.
Opportunity to oversee the repair
If an issue is uncovered during the buyer’s inspection, they’ll likely want you to repair it before closing or offer a credit. If they want the repairs completed before closing, the buyer will probably request that a licensed professional complete the work (not done DIY), and they may even want to choose their own contractor.
So, if you can complete the repairs before listing, you have control over the contractor you use (and the budget), or you can even DIY the smaller projects.