Everyone has heard about the home inspection. But, not everyone is familiar with a pre-listing inspection. There are plenty of reasons not to skip a home inspection but there are also a few good reasons to schedule a pre-listing home inspection. The fact of the matter is, selling a home is something that takes quite a bit of effort. After all, it’s an emotional time and it also takes time and work to market it properly. That’s where a pre-listing inspection comes into play.
What is a Pre-Listing Inspection?
Okay, so you know what a home inspection is — a cursory examination of a house to uncover any material defects. Material defects are problems or potential problems that either devalue a property and/or make it unsafe. A pre-listing inspection is a home inspection. But, it’s done prior to putting a property on the market.
“Typically, home inspections are paid for by the buyer and performed right before closing the sale of the home. By moving the inspection to the beginning of the sales cycle, sellers are able to shorten the process by removing obstacles before they can interfere with a potential sale.” —Angie’s List.com
The reasons for this is are many. However, it’s best to say that knowledge is power. When you have a pre-listing inspection completed, you’ll be able to have a more comprehensive idea of how to best market your property. What’s more, it’s a great way to learn more about existing problems and potential issues.
Why Home Sellers Need a Pre-Listing Inspection
It’s common for buyers to schedule and pay for home inspections once purchase offers are accepted by sellers. In fact, more than 85 percent of all prospective home buyers who applied for a home loan requested as a contingency, a home inspection, according to the U.S. General Accounting Office. But, savvy sellers like to avoid surprises. Here’s the top reasons to get a pre-listing inspection:
- You’re disclosing there’s nothing to hide. When you have a pre-listing inspection conducted, you’re telling buyers you don’t have anything to hide. That’s a big relief and might cause them to forgo ordering a second inspection.
- You’re helping to reassure potential buyers. Your pre-listing inspection report is also a reassurance to potential buyers. They’ll see it’s prepared by an experienced, licensed professional. That alone can mitigate any doubts. Plus, it helps them understand the actual condition of the house.
- You’ll reduce the time it takes to close. If a buyer’s home inspection uncovers material defects, that will throw off the closing timeline. But, with a pre-listing inspection, you’ll be aware of any issues. Therefore, you can take proactive action and make it right so there isn’t any future issues.
- You’ll also be in-the-know. Another big advantage of a pre-listing inspection is it will reveal any potential future problems. This gives you plenty of opportunity to figure the best way to deal with them. It can also be very helpful for establishing an asking price and with complying with state real estate disclosure laws.
If you are considering buying or selling a house in Orlando’s Hunter’s Creek, or another community, contact us for the latest market information. We are local and experienced in all facets of residential real estate, here to help you, when you need it.