Reasons Why Home Sellers May Want to Get a Pre-Listing Inspection
A home with major repair problems can sell for less money or may take a long time to sell, whereas a house that’s in good condition will often sell quickly and for a good price. This is why many home sellers make repairs before putting their home on the market.
Reasons to Get an Inspection
There are many reasons to get your home inspected before putting it up for sale.
- Go into the home sale process with your eyes wide open. It can be hard to tell when a house is in need of repair. Some problems, like plumbing leaks and roof leaks, can hide themselves for a long time without being noticed. Home sellers who discover these problems in advance of listing the house, even if they decide not to make repairs, can be prepared for the home selling and negotiation process. Disclosing known problems in the listing can help ensure a smooth sale when a buyer makes an offer. As long as all parties are aware of the issues, the sale is more likely to go well.
- Get repairs when they’re needed. Once a home seller knows that a problem exists, this makes it possible to get the house repaired. Repairing the house before selling is often more cost effective than negotiating a lower price with a buyer. Some buyers may just walk away from a home with a seemingly overwhelming, but fixable, issue before a seller can persuade them to wait.
- Market the home as “turn key” after making necessary repairs. A turn key home, as opposed to selling “as-is”, is one that has been repaired, upgraded and is ready to move in. A turn key home is an attractive property to many buyers who want only to move in and get started with their new life in their new property. After getting an inspection and making repairs, labeling the home as turn key in the listing can be an excellent marketing tool to many home buyers.
- Appeal to buyers who cannot get a mortgage without a move-in ready house. Some loans will not go through if the home is not in move-in ready condition. Major problems like foundation issues, roof leaks and other problems can stop a loan from proceeding. Discovering these problems in advance of putting the home on the market can help homeowners get their home in move-in ready condition.
Make the Most of Your Inspection
Home sellers should be present during the inspection. The inspector will search the house from top to bottom and point out problems as he or she encounters them. Home sellers who are there during the inspection can ask the inspector questions about the issues that are identified. Sometimes home inspectors will give advice about how to make minor repairs, which can make the repair process easy.
Once the inspection has been performed, the home sellers may schedule estimates for work to be performed from a licensed contractor. It’s important that all repairs are permitted and performed to code. Un-permitted work can be less expensive, but can be majorly disruptive to the home sale process.
If the home inspection turns up a variety of problems that all sound serious or expensive to repair, home sellers may wish to consult with their real estate agent to determine which repairs are most important for boosting the value of the home. Making repairs strategically can help home sellers maximize profits when the home sells.