6 Benefits of a Prelisting Inspection
Thinking of selling your home? Gone are the days of homes flying off the market with multiple offers and the waiving of inspections. Where once the list price was the floor, it’s now the ceiling and sellers and listing agents are having to work harder to market homes for sale. Here are 6 ways to improve the selling process with a Prelisting Inspection:
1. Know the true condition of home you’re selling before it hits the market
A prelisting inspection is just like are regular home inspection– a comprehensive review of the home will include the roof, exterior, electrical, plumbing, interior, doors & windows, appliances, and more. An inspector can also look for termites, mold, test air quality, and check out the sewer line. Positive findings can then be used for marketing the home, like ‘New AC in 2021!’ or even just ‘Recently inspected!’
2. Prepare home for the buyer’s inspection
Even if you decide not to get a prelisting inspection, the true condition of the property will come out eventually. The buyer’s inspector will do the same inspection and if issues are uncovered, recommend a licensed contractor perform repairs. Even if that repair is a simple fix, you will pay a premium if it becomes a request from the buyer. Also, these repairs will need to be made as you’re trying to pack and move, instead of more proactively. So have the inspection done, make as many of the repairs as you’re able to make, and sleep better at night during this process.
3. Price home more accurately
If the inspection reveals that the home is in good working order with no major defects or repairs, this can be accounted for when pricing the home for sale. Alternatively, if the home needs (for example) a new roof, that can also be factored into the price. Which leads us to #4…
4. Minimize negotiations
The inspection report can be provided (at the seller’s discretion) with notations about what repairs have been done, or will not be done, and that pricing accounts for this information. This transparency may minimize the amount of negotiations and requests from the buyer’s side.
5. Improve buyer’s confidence
A prelisting inspection attracts more serious buyers who are ready to purchase. If a buyer feels that they know the true condition of a home, they are more willing to bring their highest and best offer to the table. They may even accept the prelisting inspection and opt out of having their own inspection done.
This is a big one. Save time on the market by attracting serious buyers with increased confidence in the condition of the home. Save time by minimizing negotiations and repairs once under contract. Minimize the risk of a buyer walking away after their inspection and the home going back on the market- with a red flag to the next potential buyers. You may even save time if the buyer opts out of their own inspection.
Having a prelisting inspection done is an honest way of selling your home. Put yourself in the buyer’s shoes- when you are looking to purchase a home you would like to feel as though the homeowner has maintained their home properly and not left a costly issue for you to handle a year or two down the road. Hiding or failing to disclose issues and hoping to fly under the radar is not the right way of going about it. In this market, buyers have a lot of choices. Stand out with transparency, integrity and be proud of the home you’ve called your own all this time. Let us help you along the way.