A pre-listing home inspection is performed by a qualified home inspector before putting the home on the market. The home inspector does a typical inspection on the property and then issues his findings in a report. And with this report, the sellers and real estate agents decide on which repairs or issues need to be addressed before listing the property.
Here are some good reasons why every home should have one of these inspections before putting on the market:
A pre listing home inspection reduces liability for the Seller and Real Estate agent.
Major issues can be cleared up before listing the home. It reduces the chance of these issues becoming a liability down the road. The buyer’s home inspector could find any of these issues and turn the whole transaction on end and might even think that you tried to hide such issues from them.
Homes that have pre listing inspections tend to sell quicker.
A resounding, YES! You can ask any real estate agent who regularly has his or her sellers purchase a pre listing inspection whether or not their homes sell faster than those that don’t. It’s just common sense that a home that has had major issues corrected before listing it will sell faster than one that has not. Buyers won’t have any issues to negotiate about.
Pre Listing inspections gives Buyers a sense of confidence.
Home buyers often wonder if there are any major issues prior to purchasing their dream home. No one wants to buy a money pit. By having a pre listing inspection and repairs made prior to listing shows potential buyers that the sellers are proactive and have had issues taken care of. This can make the transaction go much smoother and less likely for any surprises to show up at the last minute of the transaction. And it goes to show that you also care about the potential buyers of your home, which can be a big plus.
Some sellers and Real Estate agents go against having a pre listing inspection because they are afraid an issue may be a deal killer. But the problem is, these issues will more than likely be found by the buyers’ home inspector, then it could be a real fun dealing with it. This is the ultimate gesture in forthrightness on the part of the seller.
More Accurate Pricing of the Home
Sellers who do not wish to fix the issues revealed during a pre listing 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 for a lower price as a result. Conversely, sellers who do decide to make repairs or who come up with a clean home inspection can ask buyers for more money.
Saves Sellers’ Money
When issues are discovered during a buyer-initiated home inspection, the buyer and seller will enter into negotiations to determine who will cover the cost of repairs. In general, buyers tend to significantly overestimate the costs of these repairs, and the seller loses far more than he or she would have paid to have completed the repairs before listing the home.
Makes sellers appreciate Real Estate agents more
The Foundation of Real Estate Associates explained that real estate agents are obligated to act in the best interest of their clients, and failing to at least discuss the option for a pre listing inspection with them is not doing so. 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.
FREA said discussing pre listing inspections with a client may even protect the agent from being sued for failing to act in the client’s best interest.
Source: realtytimes.com, wini.com, allaboutuhomeinspections.com, acrossthehomeinspections.com
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