Regardless of how long you’ve lived in your home or how old the property is, there could be unknown issues lurking under the surface that might derail the sale. That’s where a presale home inspection comes in! While not required, you (the seller) can get a home inspection before listing your home to avoid surprises during the transaction. Keep reading to learn more about pre-inspections!
Key Takeaways:
- A pre-inspection ensures you know ahead of time what a buyer may find during their own home inspection.
- When you hand a potential homebuyer an inspection report detailing your home’s condition, you’ll make them feel more confident about the home purchase.
- Fixing issues identified during a presale inspection presents a strong impression to buyers, who might see your home in a more positive light and boost their offer.
What’s a Presale Home Inspection?
Also known as a prelisting home inspection, a presale inspection is when a home seller enlists a professional home inspector before selling the house. It allows you to assess your property’s condition. You can take the presale inspection report and create a checklist of repairs that you should fix.
What Does a Prelisting Inspection Cover?
You can decide how thorough you want your presale inspection to be. If you have a major concern, for instance, cracks in the foundation, you can limit things to just that area. Or maybe you can opt for a thorough job similar to a typical home inspection. Other areas of a presale home inspection can cover:
- Certifying that a DIY upgrade was done properly
- Evaluating the anticipated lifespan of the roof
- Investigating the absence or presence of hazardous materials, like asbestos
- Assessing water quality, mainly if your home uses well water
Getting a Home Inspection Before Listing Your Home
Let’s review the pros and cons of a prelisting home inspection.
The Pros:
- You Find out Your Home Condition
One of the biggest fears sellers have is that a buyer will get a home inspected, and something will be discovered that delays or kills the sale. This concern is undoubtedly justified. Moreover, the inspection is usually where sales fall apart, leaving you to pick up the pieces. Having your home under contract only to return on the market after the inspection is also unpleasant. A presale home inspection allows you to identify and fix these issues before listing.
- Price Your Home More Accurately!
Pricing your home appropriately is one of the most challenging parts of home selling. It takes skill and experience to find the sweet spot- too low and you miss out on money from the sale; too high and buyers will shy away from your listing. Having your home inspected before hitting the market ensures you have all the facts, making setting the accurate price much more straightforward.
- Make Repairs at Your Own Timing
Did you know that over 86% of buyers’ home inspections will reveal an issue that requires fixing? You’ll typically be expected to make repairs if you want to get full price for your house. Unfortunately, you’ll only have till closing to complete these repairs. The limited time frame puts you on edge and may leave you scrambling to fix everything quickly, which might also mean you have to overpay for the repairs. With a presale inspection, you set the schedule for repairs, and there’s no rush to list your home until you have ensured the house is in good shape.
- Minimize the Home Selling Stress
Selling a house is never easy, but worrying that the sale may fall through due to something that turns up during the inspection will add a thick layer of anxiety to your life that may not go away until the sale closes. The good news is you can wipe out that anxiety by getting a pre inspection. Besides, you’ll feel more confident about your home’s current condition by getting the presale inspection.
- Less Likelihood for Back and Forth Negotiations
Buyers often use home inspection reports to ask for additional seller concessions, such as repair credits. They’ll use the report as a means to renegotiate the sale. And while negotiating home inspections is a common hurdle in the home purchase process, not many people enjoy it, and for some, it can become highly stressful. A prelisting inspection can help you avoid the typical negotiations that follow the buyer’s inspection. You and the buyer will be aware of the issues and all repairs necessary from the beginning of your interaction. Negotiations may still occur, but they’ll probably be minimal.
The Cons:
- You’ll Pay for the Inspection
Inspections aren’t free, and presale inspection costs will come out of your (seller) pocket. You can expect to pay anywhere between $400 and $1000, but the price is arguably worth its benefits.
Do You Have to Disclose a Presale Home Inspection?
Yes, you need to disclose your home condition issues that you’re aware of (whether you found out about them from a presale inspection or for another reason). What you’re required to disclose depends on where you live; typically, you’re required to let the buyer know about major flaws in your property.
You can ask your real estate agent for a list of the required disclosures in your state. The disclosures are often related to major systems in the house, structural issues, and health concerns. Other common disclosure questions include:
- Are you aware of the foundation issues with the house?
- Are you aware of past flooding?
- Are you aware of any lead-based paint in your home?
Want To Learn More? Call Us!
If you’re still unsure whether or not you want a presale home inspection, consult our real estate agent. Our real estate agents are skilled and intimately know the local housing market and will advise you on how to go about a prelisting inspection. Call us today, and let’s guide you through a presale inspection as well as the overall home selling process.
