Home inspection simply means the visual assessment of a home's condition by a home inspector. It is a very crucial activity whose primary purpose is to evaluate the performance of the home. Sometimes, serious buyers are very much willing to pay for a home to be formally inspected. The purpose is to spot out any viable problem before they sign the contract. This article aims to provide insight to sellers as to why they should consider their homes inspected before selling.
5 Reasons Why a Seller Must Get a Home Inspection
1. To Avoid Closing Delays
It is exciting to have your property under contract, but you do not start celebrating not until closing is done. In the process of contract signing and closing, several things might crop up which could have an adverse impact and on the total bargain. Pre-listing inspection alerts you on the overall condition of your home and makes you aware of what to expect when the time comes. Also, it gives you an opportunity to make the necessary repairs that may be required before listing.
2. It portrays your home as an open book
A pre-inspection is an indication of benevolence. It shows a willingness to surpass what is expected, and that makes you outshine other sellers. It's a gesture of your property being an "open book," and that you are candid about the house. All this improves the buyers' confidence and gives them a piece of mind.
3. To eliminate the element of doubt
When we own a home, we get so much attached to it such that we don't notice when something is amiss. The place is so familiar to us that we automatically welcome any flaw and make it part of our lives. But this might not be the case with a buyer.
Remember that it is quicker for anyone to notice a negative element than a compliment, especially when one is making such investment in buying a home. They must ensure it's in a good working and livable condition. It is thus a noble step for a seller to get a professional pre-listing to be precautious of anything that might lower your home
4. Better Seller's Disclosure
A Seller Disclosure Statement is a type of form filled out by a seller providing the relevant information with the intention to exhibit the property at its best. Most often, the seller purposes to paint the house with a reason to cover something up. One can outline the age and the general condition of the home and other items if they have known about them. However, in other instances, they may be unsure of the systems that may have existed from the previous owners.
Thus they may not be comprehensively aware of the details. A pre-listing inspection teaches the house seller on the state and age of these items. The pre-listing report can be used as a marketing tool where copies are provided to prospective buyers who wish to have an assurance of the home's condition. Based on the original report, the seller can do repairs then invite the inspector again to verify and do an amendment to the report.
5. Justify The List Price
As a seller, planning out your cards well assists to increase your ability to negotiate. Prospective buyers find it hard to undervalue your property if enough proof of an ideally updated and safe house is provided. The recent inspection report equips the seller with the required knowledge about the house showing that there are no "undisclosed issues" that justify a lower pricing.
A premise which has a clean bill of health increases the house value in the eyes of the buyers. They find it tough to negotiate a price cut. One the price is be verified, list it appropriately, and equally increase your earning!
Why do sellers skip home inspections before listing?
We are used to buyers carrying out the review exercise. It is very common to find some sellers who are very unwilling to incur the house inspection costs. They find it unnecessary to do the repairs denying the facts and considering everything as "in working order." Instead of making the needed repairs, people often try adapting their lives around what is already broken. On the contrary, buyers have different anticipations. They prefer it when the home is in a perfect working state.
Another scenario where you can skip pre-listing inspection is when you recently had a professional home inspection, and no significant issue arose, and if there was, you took care of it. Do not fail to provide that report to the buyer together with the other property disclosure documents.
Evidently, the benefits of hiring a professional home inspector before pre-listing can't be ignored if a seller would wish to attract higher bindings on his property.