TOP REASONS FOR A SELLER’S (Pre-Listing) INSPECTION
So you’ve decided it’s time to sell your home. Whatever the market is doing, you can count on this: to sell your home quickly, smoothly and get the best price, you want it in the best condition possible. Now, I am not suggesting that you spend thousands of dollars in upgrades and renos! But doing basic repairs, dealing with minor annoyances and being up-front about big issues makes a world of difference.
Over the years that you have lived in your home, minor annoyances have possibly been adding up! You know the things that I am talking about: the sticky windows, the leaky faucets, the closet doors that don’t close properly - that stuff. Generally speaking these are things that happened due to wear and tear and they are easy to spot. But did you ever stop to consider that the same things could be happening just below the surface and out of sight? It’s possible that there are things lurking (such a great word!) and these lurking annoyances have a tendency of rearing their lurky little heads at the worst possible time…like when your guests arrive, or during your real estate transaction!
HOW YOU CAN BENEFIT AS A SELLER
ease of scheduling; less traffic and inspectors through your home
your home sells faster and for more money
fewer 11th hour negotiations
brings more buyers to the table
you get to choose the inspector
serious concerns can be identified and addressed
HOW THIS CAN IMPACT BUYERS
provides buyers with necessary transparency
allows buyers time to read, reflect, and make the best offer
buyers will remember a home with a pre-list inspection over those without one
no wasted inspection fees for homes that the buyer does not move forward with
Guess what? Most Sellers will be Buyers, and most Buyers will be Sellers! We all want to feel good about what we are purchasing. We want to know that the home we are purchasing is structurally sound, with systems that work. This is why a Buyer Home Inspection is crucial. However in today’s market, buyers are often choosing to waive this condition and forego the process of an inspection. This creates the potential for liability and even litigation down the road. And who wants that? Nobody, that's who!
When you as the Seller take the initiative and bring on an Inspector, there can be full disclosure. In the current market, it is not typically cost effective to remedy every issue found in the inspection. Of course any actions taken in that regard are up to the Seller to weigh the pros and cons of. That said, if the inspection does turn up something such as active water ingress or an immediate safety concern, like with the electrical, they would benefit from having these issues taken care of in the short term. A pre-listing home inspection greatly decreases the likelihood of a big “surprise” that could scare off buyers or sideswipe your transaction. In addition it can decrease the possibility of buyers attempting to back out of their contract. The Inspector will prepare a detailed report that describes and notes the condition of the various house systems, as well as their recommendations for improvement if necessary. This then becomes a valuable marketing tool, making your home and property more attractive to potential Buyers.
First impressions are a big deal! In the real estate industry it’s called curb appeal. Does your home have it? It’s not that hard to pull it together and create some curb appeal. But, if potential buyers open the front door and come face to face with evidence of past water damage, lights that are not functioning correctly, or other obvious issues that have not been taken care of, that curb appeal goes up in smoke. Research tells us that we make up our mind about something in 7 to 10 seconds! Now imagine that you have created some nice curb appeal, and hand over a completed home inspection disclosing any significant issues. You have effectively created an inviting and trusting impression. Regardless of whether the issues are large or small, you are disclosing them. That speaks volumes about you and your property. All of this adds up to your real estate agent being able to market and sell your property faster, and a reduction in time and the costs you may be facing to carry the transaction. Even in today’s "Seller’s Market", some homes take longer to sell. If your property is very unique, it may appeal to a small percentage of buyers. If you have a property like this, that also requires a lot of TLC, you have the power to demystify the overall big picture of your home by having a pre-listing inspection.
In conclusion, I would like to use the analogy of the medical check-up. Some of us understand that, when we feel something is not quite right, we go to the doctor and get checked out. But some of us don’t, because we would rather not know. Yes - that’s a little crazy! But it’s true. Unfortunately, and too often, by the time a diagnosis is made, something that could have been treated relatively swiftly and without too much effort has become a big, nasty and possibly deadly problem. It’s always better to know! It’s up to you to decide what actions to take with the information, but it’s better to have the information than to wander around in the dark hoping everything is ok in your home when you are in the middle of trying to sell it.
Special thanks to Pierce Bowie from Falcon Home Inspections for contributing to this blog post and lending his expertise and knowledge. Reach out to Pierce for more information or to book your next home inspection: