PROS AND CONS OF DOING A PRE-INSPECTION ON YOUR HOME
What is a pre-listing home inspection?
A pre-listing inspection is precisely what the name suggests; You will hire a home inspector to have your home inspected before putting it up to sell it. A pre-listing inspection informs a seller about the condition of his home ahead of a deal.
A pre-listing inspection is similar to a standard inspection; a certified inspector inspects around 1600 parts of your home. He will assess the structural and functional parts of your home. He will examine the exterior and interior of a house and any extra inspections you may request. A standard home inspection includes the following;
- Doors and windows
- Plumbing systems
- Electrical systems
Pros And Cons of Doing a Pre-Inspection on Your Home
You will likely know about the home inspection practice if you have sold or bought a home before. If not, you need to know that it’s essential in real estate transactions. Home inspections give considerable benefits to home buyers, but what can they do for a home seller? Well, the home inspection serves the seller with many benefits. This saves a seller from time and negotiations down the road.
If you are a seller wanting to weigh the pros and cons of a pre-listing inspection, then read on:
The Pros of a Pre-Listing Home Inspection?
At first glance, things may look good around your house, but you never know what the problems may be lying underneath floors and behind walls. A pre-inspection by an expert will help clarify the situation. It’s great if the inspector doesn’t find anything wrong but knowing that your home is in good condition allows you peace of mind. If you have a pre-listing inspection done, you don’t have to fear that if something goes wrong during a buyer’s inspection, your deal may go sour? A pre-listing inspection helps avoid unwanted problems with future buyers.
Builds trust with potential buyers
By providing an inspection report with your listing, your home will stand out from the crowd, and at the same time, it will help build trust with potential buyers and attract more serious buyers. People trying to buy your home will feel more confident about purchasing your home, knowing that they will face no serious problems that could cause thousands to repair. In addition, pre-listing inspections can help you get rid of doubts about the present condition of your home and help sell your home faster.
Price your home accurately.
If the price of your home doesn’t match its value and condition, you will have a lot more trouble selling it. Expensive homes stay in the market for a long time and lose credibility, their sales going stale; on the other hand, undervalued homes mean you can lose money on a deal because you never knew the actual value of your home. The best way to avoid this is to hire an experienced home inspector familiar with the market who can help you evaluate your home accurately. If you need help with a Pre-Listing Home Inspection in Gaithersburg MD you can get in touch with one of the representatives at TTBS. Top to Bottom services offers premium inspections for real estate agents, sellers, buyers, and homeowners. No one can deny the importance of a pre-listing inspection. The listing will show exactly what your home is like and helps you better determine its actual value.
Get time to make repairs.
If you choose not to have an inspection, your buyer may still have one, and you will have to deal with the stress of what a buyer’s inspection may uncover. If any unexpected problems are discovered during a buyer’s review, you may have to rush and resolve the issue during a designated deadline. Repairs under q limited time frame can cause a lot of unnecessary stress. However, if you decide to do a pre-inspection, you can save yourself from unexpected problems and unnecessary stress. Discovering issues in a pre-listing inspection can give you ample time to fix the problem on your terms without a time frame.
Avoid the hassle of Renegotiation.
In most cases, your home will go through a buyer’s inspection, even if you have an inspection or not. Home inspections can often become an issue when the inspection reveals a problem. Many buyers use home inspections as an opportunity to renegotiate a transaction, but pre-inspection eliminates all issues before they occur. This is especially useful for multi-bid situations and sellers trying to sell in competitive markets.
The Cons of a pre-listing inspection
while the buyer typically covers home inspections, a pre-inspection is the seller’s responsibility. Typically, a pre-inspection will cost you anywhere from $200 to $500. This does not include the cost of any repairs that a buyer may request after the inspection. In addition to a general review, your inspector may charge you more for radon testing, well water testing, and checking for the presence of mold or lead paint. Considering the high cost of selling a home, you may be hesitant to put even more money into getting your home sold, especially if the inspection reveals expensive problems that you weren’t aware of.
Disclose your inspection findings
In most cases, your home will be given a buyer’s visit, regardless of whether you decide to pre-visit. A home inspection can often be an issue when the inspection reveals a home problem. Many buyers use the inspection as an opportunity to renegotiate a transaction, but pre-inspection eliminates all unknowns and effectively kills this opportunity. This is especially useful for multi-bid situations and sellers in solid seller markets. For instance, an inspector suggests Termite Inspections in Gaithersburg after discovering wood damage in your home in Gaithersburg. Having the damage fixed in time will give you a chance to have repairs done at a reasonable price; on the other hand, if a buyer were to find out about termite damage, he would have either walked away from the deal or negotiated the price considerably down. A pre-listing inspection lets you get the damage fixed and inform the buyer ahead of the repairs.
You Still Have to Go Through a Buyer’s Home Inspection
No matter what you decide to do, it’s important to remember that a pre-listing inspection does not take the place of a buyer’s home inspection. Regardless of the results of any pre-inspection, the buyer’s lender still requires a home inspection before approving financing. And although it may not be likely, there’s still a possibility that the buyer’s inspection turns up new issues with the home. In this case, buyers often trust their inspector more than yours.
You May Face Unavoidable Repairs
If a pre-inspection discloses issues that may halt the sale of your home, you may be facing unavoidable and very expensive repairs. These problems could be cracks in your home’s foundation, a leaking roof that needs to be repaired, or outdated electrical wiring. Such issues typically need to be fixed before you list your home.
If you are still confused and can’t decide whether having a pre-listing inspection is a good idea, get in touch with a professional inspector from a reputable firm to help you make the right decision. click here.