When looking at the potential costs involved when selling your home, you may be considering avoiding the cost of having a pre-listing home inspection completed. But is avoiding the up-front cost of the inspection a decision that you may regret down the road? Let’s look at the pros and cons of having a pre-listing home inspection completed to provide you with more information to consider as you make this important decision.
The Pros of Having a Pre-Listing Inspection
1.) You’ll know the condition of your home.
One of the worst experiences a seller can have is finding out from the buyer’s home inspection that there are some significant problems with their home. This can result in a pending sale being delayed or canceled, which can result in significant time lost for you, as well as the potentially higher costs of repairs than if you had discovered and repaired the issue yourself. A quality home inspector can conduct a comprehensive pre-listing home inspection for you and tell you upfront about any repairs needed to avoid costly delays down the road.
2.) You can price more accurately.
Setting the price for your home is one of the most daunting tasks you’ll face when selling. List it for too little and you’ll leave money on the table. List it for too much and you’ll keep buyers away. By having a pre-listing home inspection completed you and your realtor can more accurately determine what your most competitive selling price will be.
3.) You make your potential buyer feel more confident.
There is a considerable amount of competition in the market for pre-owned homes. Anything you can do to stand out is to your advantage. Being able to show your potential buyers a recent home inspection will set you apart from other sellers with comparably priced homes. With this most likely being the most significant purchase of their lives, buyers appreciate anything someone does to lessen their stress level.
4.) You lessen your own anxiety.
While a pre-listing inspection lowers the stress level for the seller, it also lessens your anxiety level as well. Wondering whether there’s something about the condition of your home that is going to surface during the buyer’s inspection can induce stress for you. By having your own pre-sale inspection completed you’ll have the peace of mind of knowing exactly what the condition of your home is and if any repairs need to be made.
5.) It helps when you’re negotiating.
Renegotiations on price often happen after a buyer’s home inspection. It’s not uncommon for them to come back and ask for price concessions because of items their inspector listed as substandard on their report. If you have your pre-listing inspection to show a buyer, they have much less leverage on renegotiating the price after their inspection. You’ve already shown them the condition of the home and they’ve factored that information into their offer.
The Cons of Having a Pre-Listing Inspection
1.) You’ll need to disclose problems discovered.
There are disclosure reports that must be completed when you sell your home. This may require you to report some or all of what was discovered during your pre-listing home inspection if, in fact, anything was. This is to protect the seller, as well as yourself. Your realtor or a real estate attorney can confirm what the laws are in your state pertaining to disclosure.
2.) You’ll have to pay for the inspection.
Having a pre-listing inspection completed is an expense you’ll need to pay. It is not a line item you can pass on to the seller. They’ll have to pay for their own inspection. The inspector you choose should tell you upfront what the cost of the inspection will be and what exactly will be inspected.
As you can see, the pros outweigh the cons when it comes to getting a pre-listing home inspection completed. The evidence is in favor of procuring the services of a quality home inspector for your inspection.
Lucent Property Inspections is the premier home inspection company serving Peoria, Bloomington, East Peoria, Normal, Hudson, Dunlap, Morton, Washington, Goodfield, Roanoke and beyond. Call us today at (309) 300-0007 to schedule your pre-listing home inspection.