Sellers- Should You Get a Pre-Listing Home Inspection?
Traditionally, a home inspection is completed after a house is under a ratified sales contract. It is paid for by the buyer and is used to protect their interest in buying the home. They can enter into ownership of the property fully understanding the state of the condition it is in. However, there are some instances in which a seller may want to get a pre-listing inspection done.
Let’s take a look at what those situations may be.
Why Get a Pre-Listing Inspection?
The main purpose of a pre-listing inspection is to get ahead of what may come up on a buyers inspection. If you are armed with knowledge on what issues may arise, you can either fix those issues beforehand, or be prepared to provide a credit for buyers to make those fixes.
Additionally, when the market is moving very fast and buyers are waiving inspection contingencies, having a pre-inspection may provide additional peace of mind to the buyer.
How Much Would a Pre-Inspection Cost?
A pre-listing inspection would cost the same amount as any other home inspection. This can vary by region, size of home, and inspection schedules, but usually cost between $300 and $800.
Benefits of Getting a Pre-Listing Home Inspection
List Your House “As Is”
You may be able to list your house “as is” without frightening buyers by sharing the completed home inspection because it provides additional knowledge. This may bring in more showings and cut down on those who won’t want to purchase the property “as is”.
Get Ahead of Repairs
You will have the ability to do any needed repairs in advance of listing your house. This will allow you to avoid negotiations after you’re already under contract if problems arise on the buyers’ inspection, by knowing what issues may come up beforehand.
A prelisting inspection will bolster your reputation within the real estate community. You can gain trust of real estate agents and buyers by showing upfront the explicit details of the property’s conditions. It also shows your commitment to getting the house sold.
Avoid Buyer Skepticism
If your home is priced lower than other comparable properties in your area, buyers may develop some reservations about your property. Providing them the pre-listing inspection can allow them to understand the condition of the property and the reasoning for your pricing.
Consider whether or not you are in the right situation to get a prelisting inspection. We can share pros and cons on your particular property and we would be happy to put you in touch with a trusted inspector to get the process started if it is the right fit.