Selling a home comes with many uncertainties. Once a seller's home goes under contract, the buyer (in most cases) will ask for an inspection on the home. At this point, many sellers simply cross their fingers and hope the home inspection goes well. Sometimes it does, but sometimes it does not. While this "wait and see" method works for some, others find it very stressful.Home sellers who want to be proactive when selling their home can do so by getting a pre-listing home inspection. Here are some of the most common reasons why many sellers employ this strategy.
Know What's Coming
The first and most obvious benefit of getting a pre-listing inspection is to eliminate the element of surprise from the home selling process. Home inspections can drop bomb shells that many homeowners are unprepared to manage. When a home buyer discovers a problem, this can send the contract negotiation process into a tailspin.
Pre-listing inspections can reveal hidden problems like mold, wood rot, foundation trouble, wiring trouble and plumbing leaks. Oftentimes, homeowners need time to make these repairs, but time is not always a resource that people have when trying to move to a new place. If these problems are discovered by the buyers inspection, it might not only lead to delays in the selling process, but could cause the buyer to back out of the transaction. Discovering these problems in advance enables homeowners to make the repairs before ever listing their home. Knowing and then correcting major problems can prevent delays after the home selling contract has been signed and can keep the home selling process proceeding smoothly.
Price a Home Properly
After finding out what's wrong with their property, some homeowners may choose not to make repairs after running the numbers. A home with problems can still be sold, if the home is properly priced. Homeowners who uncover problems and who choose not to make repairs can keep the selling process moving along by working with their real estate professional to price the property competitively. If long negotiations around discovered damage or issues can be avoided/addressed right away, sellers can wrap things up quickly instead of continuing to pay for landscaping and utilities while waiting for another counter-offer.
Improve the Value of a Home
While some homeowners choose not to make repairs after discovering a problem with their home, others will choose to make repairs based on the inspection findings. These homeowners may actually improve the value of their property. This helps the home selling process go quickly.
Home sellers are encouraged to attend the pre-listing home inspection and ask questions. The inspector will often be a great resource for understanding the severity or relatively benign nature of issues found. With this knowledge, sellers can more confidently understand what they'll want to focus on and what they might leave alone.
Build Trust With Buyers
With a transaction of this size, it's certainly natural for buyers to maintain a level of skepticism. Buyers often have to put down quite a lot of money to purchase a home, and many will be nervous about purchasing a majorly flawed home. A home for sale that already comes with its own home inspection can be a bonus for buyers for this reason. Buyers appreciate when a seller shows they are proactive in keeping their home in good condition, and this is simply one more way to do so. Couple this with transparency and a buyer will feel a lot more comfortable heading into negotiations.