A home inspection – a thorough visual inspection of a home’s structure and its systems – is often a critical part of the home sale process. Many homebuyers demand a home inspection as a condition of the sale; however, sellers less frequently use pre-listing inspections (also known as a seller’s home inspection) to market their home.
Here are 3 reasons why a seller’s inspection may be right for you and how it can give you the upper hand when selling your home!
1. Get the price right.
A seller’s inspection can assist you in objectively determining what the price of your home should be. If the inspection reveals things that need to be repaired, you can opt to repair these things or adjust the price accordingly.
Making these choices prior to listing your home can also give you time to weigh your options and shop around for the best deal. This is a luxury you might not have when your home is already on the market.
Having the results of your inspection and knowledge of the areas in your home that need improvement can help you to determine what needs the most attention, and it can help you decide the areas where it is most cost effective to invest in your home
2. Forgo nasty surprises.
It is no secret that buyers often use a home inspection and a home inspection clause to negotiate a lower price when a home inspection reveals problems with the home’s systems or structure. Worse yet, the results of a home inspection can sometimes mean losing the deal altogether.
It is especially important to have a pre-listing inspection conducted if you have an older home, or a home that hasn’t been inspected since occupancy, as these homes tend to have hidden issues that could cost you dearly during negotiations.
Buyers typically ask for $2-3 in price reduction for every $1 of perceived repair, so finding these issues and addressing them accordingly is in your best interest as the homeowner.
3. Give potential buyers peace of mind.
A reasonably clean home inspection can also work in a seller’s favour as this can sometimes be used to justify a higher asking price.
Buyers will also feel more comfortable making an offer on a home that has already been inspected. Although this might not prevent a buyer from asking for a second inspection of their own, it definitely works in your favor as it will encourage buyers to make a bid on your home.
Gaining the upper hand in negotiations means having knowledge about your home and the market at your disposal.
Trying to sell your home can be stressful, so eliminating any potentially disastrous surprises that a buyers home inspection might reveal can only benefit you. A seller’s inspection will give you peace of mind and allow you to go into the home sale process thoroughly prepared.
– Jeff Golfi