As you prepare to list your home on the market, you should be sizing up the competition. Many homeowners make upgrades before selling based on the features of competing homes. While aesthetics and pricing are critical factors for buyers, property condition can make or break a deal. In fact, some desirable homes with a reasonable list price remain on the market for many months because of underlying issues. Rather than take chances, order a pre-listing home inspection today.
Why You Should Be Motivated to Order a Pre-Listing Home Inspection
While not usually required, today’s buyers often order a home inspection during their contingency period. If a potential buyer is going to request an inspection, you might wonder why you should order your own inspection first. Here are some reasons how a pre-listing home inspection can help when selling your home.
1. Understand True Property Condition
From living in your home for several years, you are probably familiar with many of its imperfections. You may have already addressed some of the issues that you believed were the most significant. However, many sellers are caught off-guard when a buyer’s property inspection identifies more serious problems. In some instances, the buyer backs out of the deal completely. Before you attempt to sell a major asset like your home, it makes sense to understand its true condition.
2. Make Critical Repairs Upfront
Some buyers are hesitant about buying a property with visible water damage or signs of previous termite activity. A pre-listing home inspection can help you to identify these and other major areas of concern that may turn off a potential buyer. When you understand what your property’s true condition is, you can make repairs before listing it for sale. By doing so, you’ll present your home in the best possible light and increase its value.
3. Budget Properly
Some repairs should be made to the property before listing, however, the buyer may still negotiate for other repairs to be completed after reviewing his or her inspection. When you have a list of repair issues in-hand before showing the home, you can prepare your finances for the possibility that specific repairs may be requested or adjust your list price accordingly. By doing so, you can avoid unexpected financial strain.
4. Close Faster
Real estate transactions have been delayed for weeks or longer because of issues discovered in a buyer’s property inspection. These delays begin when the buyer negotiates for repairs to be completed before closing. You may need to push the closing date back to have adequate time to complete the repairs. When problems are addressed ahead of time, negotiations and delays can be minimized or avoided altogether.
Ordering a pre-listing home inspection provides substantial benefits throughout your selling experience. This is a step that should be taken well in advance of your listing date.