Typically, a home inspection lies in the hands of the home buyer. A home inspection is not always required but is highly recommended. This ensures that the buyer knows that they are making a safe investment. When making the biggest purchase of your life, the last thing you want are costly repairs.
So, how does ordering a pre-inspection as a seller give you an advantage? Read further to find out!
What is a pre-inspection?
A pre-inspection is a professional assessment of a home’s integrity done before putting the house on the market.
A pre-inspection report is legally meant to be disclosed to buyers who are interested in purchasing the home.
Advantages of a pre-inspection
By obtaining such a report, the seller is likely to receive:
- Serious buyers
- More offers
- Competing offers
- Timely closing
If the seller knows of any major issues beforehand, this gives them more time to remedy the issues before they turn a buyer off and jeopardizes the closing timeline.
Additionally, the buyer can choose to opt out of having their own inspection done thus making them comfortable putting in a more favorable offer.
When negotiating with buyers, a pre-inspection report can be used to defend the seller’s asking price.
Who will pay for the repairs?
Who will pay for the repairs is entirely up to the seller. By fixing any major issues before putting the home on the market, the seller can market and price the home in a better light.
This will eliminate the stress of the buyer having to go through repairs. The buyer might view the home as newer and “move-in ready”.
If the buyer pays for the repairs, this will give them an idea of how to present their offer. You are still likely to get serious buyers as they will know the issues they will be responsible for upfront.
Consideration for these issues can also be factored into the sales price. This can be a win-win for both buyer and seller!
Wouldn’t the buyer still get their own inspection done?
Yes and no.
To air on the safe side, it will be recommended they have one done anyway. That way they can also confirm that any repairs that were made after the pre-inspection did, in fact, get done.
So, why bother with a pre-inspection? If these repairs are caught and made prior to listing your home, you avoid closing extensions and possible addendums to the contract. You also still stand to gain a buyer’s trust and interest with a pre-inspection.
Also, check out these home maintenance tasks you will also want to address before selling your home.