It isn’t just home buyers who benefit from a home inspection. A growing number of sellers are also turning to home inspections before putting their house on the market, although the benefits of a pre-listing inspection for sellers aren’t as well-known as those for a buyer.
A pre-listing inspection is just like a typical home inspection performed after a home is under contract. A seller uses the inspection report to determine if repairs are necessary, accurately price and market the home, and to avoid surprises and expensive delays during closing.
What Are the Benefits of a Pre-Listing Inspection for Sellers?
A pre-listing inspection will usually cost a few hundred dollars, but the price is worth it to make sure your sale goes smoothly. Here’s why a pre-listing home inspection is a smart investment.
1. Order a Pre-Listing Inspection to Have More Time to Make Repairs
Every home has issues, even brand new homes. When the inspection turns up problems before your home is on the market, you’ll have more time and flexibility in making repairs. If you find out only once the home is under contract, you will be pressed to fix issues like a leaking roof or pipes before the sale can close. This creates unnecessary delays and increases the cost of repairs.
One of the clear benefits of a pre-listing inspection for sellers is more time to discover and fix issues so that the home has a clean bill of health.
2. You Can Make Repairs Yourself
The pre-listing inspection may uncover issues that will be red flags to buyers. Because your home isn’t on the market yet, you can address these issues however you like, including tackling them yourself on your schedule.
You don’t have this option once your home is under contract as the buyer will want you to hire a licensed professional, even for simple issues like replacing an outlet. Expect the cost of repairs during escrow to be higher than the cost you would pay to fix the problems before you list your home.
3. Avoid Unpleasant Surprises
You’re already familiar with some of the quirks of your home like the drafty downstairs windows or the back door that squeaks. A pre-listing inspection gives you insight into the problems you may not know about.
Issues like failing heating systems and roof damage can derail a home sale. Surprises that reveal themselves during the buyer’s inspection reduce the value of your home, make it challenging for the buyer to get a loan, or even cause the buyer to walk away from the sale.
One of the biggest benefits of a pre-listing inspection for sellers is the opportunity to avoid surprises for a smoother and easier transaction.
4. Price Your Home Effectively with a Pre-Listing Inspection
A pre-listing inspection helps you more accurately price your property. Your home’s condition is one of many factors that determines its value. While your real estate agent is well-practiced at pricing homes, he or she will appreciate the information that an inspection provides.
5. Support Better Negotiations
Imagine listing your home for sale, getting it under contract with a buyer, and the inspection report comes back with a dozen issues that you did not expect. What happens next? The buyer will likely negotiate with you to either reduce the asking price of your home or make the repairs. While the seller can choose between these options, you aren’t on the winning side of the negotiations.
A home inspection gives you the upper hand during negotiations by removing any justifications for repairs or a price reduction. Before putting your home on the market, order a pre-listing inspection to have an accurate understanding of the condition of your property.