Why Should You Have a Pre-Listing Inspection?
In the usual real estate transaction, buyers order a home inspection after winning a bid on a house. But did you know that sellers can (and should) request an inspection before listing their home? A pre-listing inspection provides homeowners valuable information about the condition of their property giving them more control over repairs and their negotiating position.
What Does a Pre-Listing Inspection Include?
A pre-listing inspection is a full inspection for the seller to better understand the condition of their home prior to the buyer’s inspection or even before putting the house on the market. It checks all major systems and components of the house: heating and cooling; electrical; plumbing; roof and structure; siding; and doors and windows.
What are the Benefits of A Pre-Listing Inspection?
Over time, homeowners tend to get used to or overlook a home’s flaws and minor issues. With the knowledge of their house’s actual condition and the items that will be revealed during a buyer’s inspection, the homeowner will have the time to either address the issues or take a more realistic look at the house’s true market value.
A pre-listing gives the seller important information to consider so they’re not caught off-guard in the midst of a transaction. The last thing any seller wants is for the buyer to walk away from the sale because some major issues with the house became the deal-breaker. Not only does this waste valuable selling time, but a canceled contract will show up on your property’s history causing other potential buyers to be wary.
A pre-listing inspection gives the seller better control overall in marketing their home and helps minimize stress from last-minute negotiations once a purchase agreement is made. Homes that have a pre-listing inspection generally sell faster and have fewer inspection-related issues to negotiate, enabling a smoother transaction and more closings.
What if a Pre-listing Inspection Uncovers Large Issues?
Once the problems are known, they can be carefully assessed for appropriate resolutions. Many sellers may not have the desire, time, or money to fix certain problems. This is where advice from a qualified real estate agent comes in as to what is necessary for a sale to go through and what the true market value is. In any case, sellers who proactively disclose pre-listing issues give buyers proper awareness to factor them into their offers, It can also foster a better trust between the parties resulting in a smoother closing.
How Much of A Pre-Listing Inspection Must a Seller Disclose?
This is an issue to discuss with a qualified real estate agent. Usually, the summary contains the major “need-to-know” items. As the goal is to ensure transparency and awareness, the summary should be adequate. Providing the entire report with all the other details may appear overwhelming, but it may also contain several positive items that will set the potential buyers at ease. Again, these are issues to address with your agent.
The Bottom Line
Knowledge is power. Knowing the true condition of your home before negotiations begin will give you the chance to make a non-rushed, informed decision about how to proceed. A pre-listing inspection gives you the power in negotiations because you already know what the buyer’s inspection will discover and you can price or plan accordingly.
Need More Information?
Angell’s Home Inspections are experts at pre-listing inspections. This 5-star Google rated inspection company can guide you through the inspection process and provide the essential information you need to plan your house sale. Please call (860) 402-6644 or learn more at https://www.angellhomeinspections.com.