What is a pre-listing home inspection? It is a home inspection that the seller has done before listing the house for sale; getting this done for their home can be helpful as they begin their selling process, because it gives them more control over repairs and more time to get those repairs done, and they get a more accurate listing price for their home before it is on the market.
When conducting the pre-listing home inspection, a home inspector (preferably one who is ASHI-certified) will typically approach it the same as if it were for a prospective homebuyer, and will begin assessing the home’s overall condition. It will cover all the major systems and components: interior and exterior, electrical, roof and shingles, your HVAC system, plumbing, and overall structure. The home inspector will then compile all his research into his inspection report, highlighting any problems found as well as offering recommendations for replacements or repairs that you may need. A home inspection will range from $300-$700, and takes about a few hours to complete. While not required for the seller to do a pre-listing inspection, it can help them avoid delays during the final house transaction.
Below are some of the benefits that sellers can take advantage of by getting a pre-listing inspection.
Get Necessary Repairs Done
You can save alot of time, stress and money fully completing repairs and projects discovered during the pre-listing inspection, instead of finding a last minute home repair company to fix an issue that will hold up the final transaction.
However, sometimes minor repair problems are best left to the buyer’s discretion on addressing the repairs, instead of you fixing them ahead of time before the home goes on the market. Some issues are not necessary to the final sale, and in some cases, the new owners may want to have control over their repairs and have them completed to their desire.
Price Your Home Accurately
It can be challenging to find the right price to list your home. You don’t want to scare away prospective buyers by pricing too high, but you also do not want to leave money on the table by pricing it too low either. Work with your real estate agency and use the results of the pre-listing home inspection to get you as close as possible to determine that “just right” house price.
In addition, you can also use the pre-listing inspection to focus attention to all the positive features discovered during the inspection. You can use that knowledge to promote your property in the listing. This is a wonderful way to build trust with potential buyers too.
With your pre-listing home inspection, you can already verify the condition of your home and work with your real agent to handle the disclosures. Having this valuable piece of information upfront for both the buyer and seller will help both parties stay on the same page as the transaction continues during this process. If the buyer’s home inspection uncovers any new issues, you will then have your pre-listing home inspection report there to compare notes, and you can even call in the house inspector who did the pre-listing inspection for further consultation on the pre-listing inspection done.
Attract Serious Buyers
Potential buyers are often skeptical about a home’s condition and are cautious about potentially getting into a huge money pit. However, by sharing the findings of the pre-listing inspection with potential buyers, you can attract serious buyers who are already fully aware of the overall condition of your home and its value.
Source: ASHI Newsroom