When Should You Get A Pre-Listing Inspection?
A Pre-Listing Inspection is useful because it allows the seller to be proactive in uncovering, understanding and repairing any issues with their homes or may not have been aware of. This is recommended at least 45-60 days before they intend to list their home on market so they can have enough time to conduct maintenance and make repairs.
Benefits of Pre-Listing Inspection to Sellers:
1. Allows the Seller to make Pre-Listing Repairs
A Pre-Listing Inspection will identify issues that the seller may not know about, like leakage in their crawlspace, roof damage, insect or wood destroying organism infestation and many more, allowing the seller to make repairs before listing.
2. Ensures a Smoother Transaction
When issues are discovered during the inspection, the seller can either have them fixed ahead of putting the home on the market or choose to disclose the issues to potential buyers. Either choice will help the home sell faster because it will prevent the buyer and seller from becoming entangled in long negotiations after the buyer’s full home inspection.
3. Helps the Seller Accurately Price the Home
Sellers who do not wish to fix the issues revealed during the inspection can factor the repair costs into the asking price of the home and explain to buyers that while the home has certain issues, they will be getting it at a lower price as a result. Conversely, sellers who decide to make repairs or who come up with a clean home inspection can elevate their asking price.
4. Saves the Seller Money
When issues are discovered during a buyer’s home inspection, the buyer and seller will enter negotiations to determine who will cover the costs of repairs. In general, buyers tend to significantly overestimate the costs of these repairs and the seller loses far more money than he or she would have paid to have completed the repairs before listing the home. The seller can potentially save themselves thousands of dollars by making the repairs identified in the Pre-Listing Inspection ahead of time.
5. Makes the Seller More Trustworthy
By disclosing any issues in advance , the buyers can feel confident they are making a deal with a trustworthy person who is not trying to hide anything.
Benefits of Pre-Listing Inspection to Buyers
1. Gives Buyers Access to Information
A pre listing inspection gives buyers access to information about the home that they would not have received otherwise . It allows buyers to understand the full scope and condition of the home they intend to buy , giving them the ability to make an informed and educated decision .
2. Inspires Confidence in the Home
A Pre-Listing Inspection also gives confidence to buyers that the investment they are about to make is a sound one. Purchasing a home is the largest investment most people make, and they deserve the ability to be confident in their investment, pre-listing inspection provides to that.
3. Emphasizes the Importance of Regular Inspection and Maintenance
Many buyers believe that their home only needs to be inspected upon purchase , but that could not be further from the truth . In fact , it’s recommended that a home should be inspected once every three years in order to ensure safety and durability.
Benefits of Pre-Listing to Agents
1. Helps Them Market the Home
Even when issues are revealed, it still helps the real estate agent market the home because they can be completely transparent with the condition of the home .
2. Helps the Sellers Appreciate Them – and it May Even Legally Protect Them
If clients lose time and money that could have been saved with a pre-listing inspection, they may blame the agent for not telling them about the possibility . Conversely, sellers will appreciate an agent who takes the time to discuss every possible option .
3. Aids in Smoothly Brokering The Deal
A Pre-Listing Inspection will eliminate this last minute rush as buyers , sellers and agents will be aware of issues far in advance of these negotiations. As a result, the deal is more likely to go smoothly and be closed in a timelier manner.