Nearly all conscientious buyers want a home inspection for most homes except those that are brand new, and if they balk at getting one, you can be sure a professional realtor will bring it up as an option during the purchase discussions. Home inspections can often uncover things that no buyer wants to be surprised with after the fact. Things like mold, leaky roofs, faulty electrical wiring, plumbing and foundation problems.
Professional real estate agents guide their buyers toward paying for a home inspection as a normal course of business, and they’re equally as diligent in recommending a pre-inspection to their sellers.
What should the savvy home seller do with pre-inspection findings? Act fast! Acting quickly on items found in a pre-inspection report could save the day when you have a buyer interested in your home.
Here are some reasons why not waiting for the buyer’s inspector to discover what needs repair on the home you are selling is your best plan of action.
Makes it Easier to Set Your Price
Every homeowner wants the buyer who makes the best offer. Setting the price for your home is one of the biggest challenge’s homeowners and their real estate agents face. You want to find that sweet spot and a pre-inspection may get you closer to a higher number.
Unless your home is brand-new or you’ve recently completed major renovations, it’s often hard to narrow down a price. Your real estate agent can’t know the condition of the mechanicals or whether your roof has hidden leaks. In some cases, you’re not even aware of issues because they haven’t caused a problem yet. A pre-listing home inspection gives you and your realtor a clear picture of the condition of your home making it easier to set a fair market price.
Knowledge Equals Power
Buyers may use items found on the home inspection as a negotiating tool. Renegotiating the sale once you’re under contract can delay your closing. When you attend to problems found after a seller’s home pre-inspection, you may avoid the need for renegotiation.
First, the buyer’s inspector won’t surprise you because you already know what’s in the basement or the attic. Second, your agent can make the buyer’s agent aware of anything found during your inspection. Now, you and prospective buyers about potential issues. And everyone is made aware of any repairs you’ve decided not to make. You and your agent are prepared for the buyer’s negotiations if they occur and you’ll have more power to keep them to a minimum.
Minimizes the Rush to Fix It
Your pre-listing inspection should reveal any significant issues, especially repairs most buyers will expect you to make if they pay full price for your home. Certain repairs lenders will insist you take care of before they approve financing. Waiting for a buyer’s inspection sets you up for surprises. It also sets you up for a tight schedule to make repairs. You may only get a few weeks to complete the requested repairs.
When you act quickly on your inspector’s findings, you essentially set your own repair schedule. Since your home isn’t on the market yet, you can take your time (but not too long) to decide which repairs you’ll make and find the best contractors to complete them. You’re not rushed to slap repairs together before that first potential buyer sees your home. And you’ve given yourself time to correct large problems before you’re officially on the market.
Inspection Gives You Peace of Mind
Even when you know without a doubt your home is in pristine condition, there’s always that nagging thought about what the buyer’s inspector might dig up. So, your inspector found a few bug-a-boos you can fix and forget them.
The sooner you make those repairs, the sooner you can quit worrying about the leak in the attic or the pesky drip in your crawl space. If you’ve discovered a bug infestation like the ones found by the folks at Custombedbug.com, time is of the essence!
Getting the inspection done and dealing with any necessary repairs not only gives you peace of mind, but it also helps you feel confident about your home’s condition, and your listing price.
Confident Buyers Make Stronger Offers
Hand your buyer an inspection report with a list of completed repairs and watch their confidence soar. The evidence? The buyer will usually be prepared to present a stronger offer.
It’s normal for buyers to wonder about the condition of the home they want to buy. Like sellers, buyers worry over what an inspector might find. Buyers who feel like the home they’ve fallen in love with could have hidden issues may present a low-ball offer.
When you share the results of your pre-inspection, and evidence of the repairs you’ve made, you’ll subtly encourage the buyer to make a stronger offer. You’ll minimize their need to calculate how much buying your home will cost them in repairs.
Helps Your Real Estate Agent
You already know real estate agents strongly recommend home inspections to their buyers. Did you know that a lot of them also prefer if sellers get pre-listing inspections because it allows sellers to be proactive and fix the problems found in the pre-inspection report before going to market?
We’ve talked about how a pre-sale home inspection helps you and your real estate agent set a fair listing price. Knowing the condition of your home also helps your agent do a better job marketing and selling your home. If they can show you’ve made repairs, your agent’s marketing efforts can attract stronger buyers. An inspection also puts your agent in a stronger position at the negotiating table.
Ready to Sell Your Home?
Now that you’ve seen the results of your pre-inspection report and taken care of the last few repairs, what’s your next move? You’re now ready to find a real estate agent to discuss your options and get a better understanding of the unique selling process in your market segment.