The Advantages Disadvantages Of A PreListing Inspection
Dated: March 10 2021
Here’s what to consider if you’re thinking of doing a pre-listing inspection.
Is a pre-listing home inspection—which is an inspection done prior to listing a home on the market—beneficial to sellers or not? My answer is maybe. There are several advantages and disadvantages to consider.
1. You determine the condition of the home. This means there will be no surprises. If there are any major defects you need to address before listing the home, you’d be aware of them up front. If anything comes up in the inspection that you won’t be willing to address, you can reflect that in your marketing price and communicate it to any potential buyers who look at it once it’s listed.
2. You improve buyer confidence. You’ll attract more buyers, fewer contingencies, and create a solid foundation for negotiation. Buyers will know exactly what they’re getting into when starting negotiations because they’ll have already had the necessary information on the home’s condition.
3. You can have a smoother transaction. The buyer already knows the condition of the home, so you may not be faced with renegotiating price, credits, or repairs. This gives you peace of mind when entering into a transaction with a buyer.
1. You have to cover the cost instead of the buyer. A home inspection is typically a cost paid by the buyer during the transaction. If you as the seller order the inspection prior to listing the home on the market, you’ll have to take on the cost.
2. You may find previously unknown issues in the home that you didn’t anticipate having to address or disclose.
3. There are disclosure requirements regarding the findings in the inspection report. In California, we have very strict disclosure laws, and sometimes an inspection report will identify problems that read much worse than they actually are. Regardless, you’ll be obligated to disclose all of those issues, and the easiest way to do that is to share the inspection report with any potential buyers.
If you’re trying to decide whether to do a pre-listing inspection or not, give me a call and I’d be happy to discuss your situation. If you have any other real estate questions, feel free to reach out to me as well. I’d love to hear from you!
This Blog courtesy of Will Cook, WILL COOK GROUP | Keller Williams Luxury Homes, Palm Springs, CA | DRE #01879277
Ranked in the top 1% of all agents valley wide and named one of the Palm Springs Life Top Realtors for 2019, 2020, and 2021; Will is an Associate Broker/Team Leader of the WILL COOK GROUP with Keller ....
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