How a Pre-Listing Home Inspection Can Help you Sell Your House
Buying a new home is often a very happy and exciting life experience. Selling a house can sometimes be quite the opposite. If you’re selling your house, it’s very likely that you are currently facing, or will soon face some stressful negotiations with potential buyers. One way to reduce the stress involved with selling your home is to hire a home inspector to inspect your house before you start the process of putting your home on the market.
In this post we will discuss the wonderful benefits, and potential pitfalls of getting a pre-sale home inspection. If you have questions about how to get the most money for your house or are in the market for an honest and hard-working real estate agent, contact Bryan & Cindy Real Estate today! We will be there to hold your hand through the daunting process of buying or selling a home every step of the way.
Benefits of Pre-Listing Home Inspections
First let’s take a look at all the reasons that scheduling a pre-listing home inspection is one of the best ways to start the process of selling your home.
Heads-Up on Potential Repairs — Great for DIYers
Possibly the greatest advantage to getting a home inspection before putting your house on the market is that it can give you time to deal with costly or time-consuming repairs. Buyer’s will almost always use the results of their home inspection to try and get you to either drop the price of your home, or agree to paying for the repairs before the sale of the home.
The problem this presents as a seller is that sometimes contracts are time sensitive. Now, if you decide to forego the repairs and just drop the price to quickly close the sale, this isn’t too big of a deal — other than the fact that you are losing money.
However, if you would like to try and save some money and hire a repairman for less than the cost that was quoted or perform the repairs yourself, you will be running like a chicken with your head cut off trying to get everything done before the deadline.
By doing the inspection before listing the home, it allows the repairs to be done in a timely manner. This is especially important if you are the type of DIYer that wants to do everything you can before hiring a professional.
Allows You to Accurately Price Your Home — Less Negotiating
When you know the exact condition of your home, it makes it much easier to give an accurate price for your home’s listing. This is good for two big reasons. First, it means that you will have more dedicated buyers.
In other words, the people who show up to your open-house events will be much more likely to get serious about buying if the price they see before matches the home they see as they are walking through it. If your home is priced too high and a buyer walks in and feels like they are getting ripped off, you may get more people interested initially, but you will be less likely to get a committed buyer.
Second, once you are under contract, your buyer will pay for their own inspection. If you have already addressed the issues you saw in your inspection, there will be very few surprises that you will have to deal with, making negotiating a price a much less stressful process.
Improves the Buyer’s Confidence
As a buyer, it can be a scary thing to invest hundreds of thousands of dollars into a home that you don’t know the history or condition of. This is why every buyer should always pay for a home inspection before committing to buy a house.
Now imagine you are the buyer and your inspection comes back with only minor issues to take care of — because even if the seller does their own repairs, there will almost always be something that comes back on the inspection. However, if the inspection shows that there are no glaring problems with the home, it will give the buyer the confidence to not only move forward with their contract, but it will make them much more likely to pay your asking price — or close to it.
After reading all this, you may be thinking, “Boy, howdy! I should go get a home inspection right now!”
Well, not so fast. There is something to be aware of before you schedule your pre-listing inspection. In Arizona, the seller is responsible for disclosing any major problems with the house that they are aware of. That means that by performing an inspection, you will be required by law to report any issues that have not been taken care of by the time you list the house.
This may not seem like a big deal at first because you would think that the buyer is going to find out any issues with the house when they get their inspection. However, there is a psychological difference to finding out a house has problems before and after you start the process of going under contract.
You can list the house with the disclosure that it already has certain issues and make it known that the price is set to reflect the needed repairs. However, the buyer may say that they want you to drop the price even more.
Therefore our advice is this — If you do get a pre-listing home inspection, make sure to follow through and take care of the issues that they find. This will ensure that your home is listed with an accurate price that is unlikely to be negotiated down.
If you’re preparing to sell your home, contact us today to get more helpful advice on how to get the best price on your home. At Bryan & Cindy Real Estate, we pride ourselves on being local Sedona based realtors that will stick with you every step of the way in your buying or selling process.