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2019-01-28 11:17:53
Step 4: Pre-Listing Inspection. Yay or Nay?

Pre-Market/Pre-Listing Inspection. Yay or Nay?

Nearly every buyer includes in their purchase offer a contingency of a satisfactory home inspection. When you are purchasing your next home, you will likely have that same contingency in place. Buyers want to know what they are getting into with a home—is it safe, will there be any immediate costly repairs, has the home been maintained, and of course, does everything work? 

During the first week or two after accepting an offer, buyers will usually schedule a professional home inspection. If the buyer’s inspector finds many problems, everything usually grinds to a halt until negotiations over price and actions are settled. Buyer may use it as a basis on which to negotiate the price down, have other inspections done, or at least start to get cold feet. At best, surprise problems uncovered by the buyers inspector will cause delays in closing. At worst, it will scare off buyers or even their lenders!

Consider taking the upper hand in this with having a pre-market inspection done yourself. Yes, it will cost out of pocket right away, but you now have the report and can take proactive action on the repairs or price it accordingly.

So why do it if you still have to make repairs or adjust the price?

1) You have the power to make the repairs YOU want to make on YOUR schedule and not be rushed.

2) It saves you money by not having to pay for an immediate repair appointment. You can even shop around.

3) Generally, for every $1,000 of PERCEIVED defect on a home, the buyer will ask for $3000 to $5000 reduction of price or allowance!

4) Once the repairs are done, the price is typically more valid in the buyers eyes. 

5) You can price your home more accurately when you know the full condition.

6) A certified pre-inspected house has a higher perceived value than a mystery-condition house on the market.

7) The inspection report can be used as a strong marketing tool to attract serious buyers.

8) The inspection report can be included with the seller property condition disclosures and provide you with much better disclosure protection from future legal terms.

9) Shows you as a trustworthy and forthright seller which gives the buyers more confidence in choosing your house.

What might the reasons be not to do a pre-market home inspection?

1) Costs money—$250 to $500 depending on the extra tests you have done such as radon testing.

2) Once you know about repairs needed, they do have to be disclosed whether you do them or not.

3) There may be enough repairs that you still must lower your price or spend some money to take care of them.

4) Buyers may still choose to have their own home inspection done and find other repairs.

5) Though an inspection can typically be scheduled within 2 to 3 business days, the repairs you then want to do can cause a delay in putting your home on the market.

Overall, you naturally can see why a pre-market inspection is logical and can give you the upper hand in getting your home sold. In the end, it is fully up to you, the seller, as to whether you do this or not. If having everything as much as possible stacked in your favor, make the call and get it done. We have a great list of recommended and certified home inspectors you can contact or you can look up one of your own. Just let us know. We can even be there at the inspection with you to walk through with the inspector and help you decide what has priority and what doesn’t. We’re here to help.

Step 5: Prepping for Photos
Step 6a: Marketing has started!
Step 6b: Marketing to Get Buyers

Blog Archive
2019-01-31 17:03:20
Step 14: Signing, Settlement & Closing

2019-01-31 17:00:29
Step 11: Home Inspections, Appraisals & Possible Negotiations

2019-01-31 16:59:37
Step 12: Last Approvals & Clear to Close!

2019-01-31 16:58:56
Step 13: Final Walk-Through & Finishing Up

2019-01-31 16:00:47
Step 10: Behind the Scenes

2019-01-30 15:50:12
Step 9: We have an Offer! Is it Good? Bad? or Almost Great?

2019-01-30 14:06:53
Step 8: Showings & Open Houses

2019-01-30 12:02:39
Step 7: Safety Matters

2019-01-28 14:12:42
Step 6b: Marketing to Get Buyers

2019-01-28 11:23:09
Step 5: Prepping for Photos

2019-01-28 11:20:43
Step 3: Declutter, Deep Clean & Stage for Buyers

2019-01-28 11:20:27
Step 2: Selling AND Buying - Oh My!

2019-01-28 11:20:01
Step 1: Hiring a Realtor & Expectations

2019-01-28 11:17:53
Step 4: Pre-Listing Inspection. Yay or Nay?

2019-01-28 10:51:16
Step 6a: Marketing has Started!

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