Why a Pre-Sale Home Inspection Is a Good Idea
Know What You're Getting Into
A pre-sale inspection will give you a reality check, letting you know if you have any issues that will likely be raised during the buyer’s inspection period. Note that if your inspection reveals a problem you didn’t know about, you may have to disclose it when you list the home. (Laws on this vary by state, so consult your Realtor to ensure compliance.)
Fix Potential Headaches on Your Terms
If your inspection does show some issues, you may choose to address them immediately rather than waiting for the seller to request a remedy. This allows you to choose how the problem is resolved, rather than negotiating with a potential buyer who may choose to use it for leverage or attempt to work in a few upgrades along with the repair. Naturally, you need to get the job done right and be sure to properly remedy whatever issue comes up. But when you’re the one hiring the contractor or performing the repair yourself, you have full freedom over the many decisions that go into any home improvement project.
Show that You've got Nothing to Hide
Having a pre-sale inspection establishes that you’re open about the condition of your home, and can encourage trust from potential buyers. Consult your Realtor about the best marketing approach for your specific market. But a pre-sale inspection can demonstrate to buyers that you’re a serious seller, and may make your listing more attractive than comparable properties on the market.
Respond to the Buyer's Home Inspector
Home Inspectors are human. They occasionally make mistakes, such as thinking an issue is more serious than it really is or wanting to be sure they’ve spotted a potential problem for the buyer. In that case, you may find your home described by the buyer’s inspector in less than glowing terms. Having a preexisting inspection means that you’ll be able to compare the two reports, then begin negotiations from an informed perspective. This won’t happen all the time, of course. But if it does, you’ll be glad you had that inspection done in advance.
Control the Narrative
Home inspection has an element of subjectivity, and any two inspectors may not have the same opinion of any given property. The home inspection should be a description of the home rather than marching orders for what needs to be done to the house.
However, some buyers react strongly to certain keywords, and having a pre-sale inspection gives you a chance to have your own inspector deliver the news. Since this is your inspection, you’ll be able to be present to deliver information about the age of mechanicals, work that has been done, and answer other questions for which a buyer’s inspector simply won’t have the answers.
For this reason, pre-sale inspections are often more complete than the buyer’s Inspection and can help give a more accurate picture of the home’s history and condition. Having a pre-sale inspection allows you to address the concerns of the buyer or their agents and to make sure all parties have the best available information when it comes time to hash out the details of the contract.
Sellers
Why have an inspection at all?
Your pre-sale Inspection will let you know the real current condition of your home. Once it takes place, everything will be assessed thoroughly. This includes plumbing, electrical, and ventilation down to the appliances that will be handed to the buyer. Simply put, everything from the exterior to the interior will be evaluated.
Should I let the buyers see the results of the inspection?
There is no need to show the inspection results to the buyer. However, if an issue is discovered through the inspection, you may have to include the results on the disclosure that should be shown to the buyer.
Why would I want to reveal any issues with my home to potential buyers?
In most cases, buyers will gradually learn of the issues about your home, especially when they decide to have the house inspected before finalizing the purchase.
You should also consider that an inspection contingency is part of most purchase and sale agreements. It enables the buyer to discuss the cost of repairs with the seller and ask them to pay for it or to cancel the contract. It is also through the inspection contingency that a buyer gets the right to back out from a contract and have the earnest money returned after seeing the results of the inspection.
If you have done your own inspection, you will see any problems that may come in the way of a potential purchase, eliminating the potential for buyers to back out upon having their own home inspection performed.
Is it my obligation to work on every issue that surfaces during the inspection?
No. It’s up to you if you want to work on any issues, lessen the price of the home in relation to the cost of repairs or simply not do anything at all. It is notable that with the use of results from the inspection, you can come up with an informed decision prior to closing the deal with a potential buyer.