Most home inspections are requested by buyers once a property is under contract so they can learn about the condition of the home and make an educated decision about the purchase.
While this is the most well-known use of a home inspection, a seller can also benefit from his or her own inspection report before listing the home. When you learn how a pre-listing home inspection can benefit you as a seller, you’ll see why this is an important step to take.
When to Order a Pre-Listing Home Inspection
A pre-listing home inspection provides you with substantial benefits. However, to maximize those benefits, you should order the inspection well ahead of your listing date.
It’s best to order the inspection as soon as you know you’ll be listing your home so that you’ll have time to review and take action on the inspection report. These are the top reasons why you should order an inspection today if you plan to sell your home soon.
1. Be the First to Know
A home inspection is a common option for buyers. There is a good chance that a buyer will order an inspection and learn more about your home before closing on it. While you may think that you know everything there is to know about your home’s condition, many homeowners are surprised to learn about hidden issues in their home.
When you are the first to know about problems, you can make repairs well before the potential buyer learns about them. By doing so, the buyer’s own inspection report will be free of serious concerns.
2. Make Repairs on Your Terms
When a buyer learns about property repair issues before you do, the buyer is in a position to dictate or negotiate for more favorable terms. On the other hand, when you order a pre-listing home inspection, you can make repairs as needed based on the information provided in the report.
For example, you can choose which contractors to use or decide if you want to make the repairs on your own. You can also choose your own materials and complete the work within your own timeline.
3. Manage Your Budget
After your home is under contract, a firm closing date will be established. If the buyer negotiates for repairs to be completed based on the information in a home inspection, you may be required to complete those repairs within a limited amount of time. In some cases, this can create a financial strain.
On the other hand, when you address significant concerns identified in a pre-listing home inspection beforehand, you can complete these items yourself or request multiple estimates to get the best price. You’ll also have additional time to pull together money for repairs before ever listing your home.
4. Avoid Closing Delays
When a buyer learns about significant property concerns, he or she may renegotiate the terms of the contract so that repairs can be made, or try to lower their offer. The negotiation process can take several days or longer to complete. You may not have enough time to complete major repairs without asking for an extension to the sales contract. These delays can be avoided when the property is in great condition before it is listed for sale.
Ordering a pre-listing home inspection provides you with valuable information that gives you more control over the entire sales process. If you have not already ordered an inspection, consider doing so today.