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Many home buyers know just how valuable a home inspection can be. After all, a home inspection can give a buyer a better idea of the condition of their potential new home. But you may not have heard that home sellers can gain similar benefits from a pre-listing inspection.
With a pre-listing home inspection, a homeowner looking to sell can get the same information about their home that a prospective buyer would, all before even putting it on the market. Getting this information ahead of time could be advantageous for the seller in many ways, helping them sell faster and for top dollar. Let’s go over three great reasons to get a pre-listing inspection.
1. Identify and make any necessary repairs
Since home buyers typically get inspections before finalizing the sale, there’s always a chance that the home inspector will uncover issues with the property. At best, the buyer could negotiate a seller concession or request that you complete the repairs before the sale. At worst, the buyer could walk away from the sale altogether.
By getting a pre-listing inspection and making any suggested repairs, a seller can avoid any unpleasant surprises when it comes time for their buyer to seal the deal. And if you’re looking to boost the resale value of your home, a pre-listing inspection can tell you what repairs are worth investing in. And as an added bonus, you can now market your home as the perfect turnkey property.
If you want to avoid the hassle of home improvements, you can get a few professional quotes for the repairs instead and share them with the buyer. That way, the buyer will know the exact cost of fixing the issue…and not try to exaggerate the expense when negotiating a concession from you.
2. Set a smart list price
Figuring out the perfect sale price for your home can be a tricky task. While any seller would naturally want to get as much money as possible for their house, an overpriced home is less likely to attract buyers and more likely to just sit on the market. And when a buyer does come through the door, they may drag you through a lengthy negotiation process to get the home for its true market value.
This situation is when a pre-listing inspection comes in handy. A home inspection offers a clear picture of the property’s condition, making pricing much easier. You and your real estate agent can use the information from the inspection report, along with local market trends, to land on a price that will get your home sold. And with the pre-listing inspection, the buyer has concrete evidence behind your pricing, which could curb their negotiation efforts.
3. Build trust with a potential buyer
Many states, including Texas, require sellers to be completely honest about the condition of their house. Since 77 percent of home buyers nationwide request a home inspection before purchasing a house, any of the information in question is likely to come out anyway. As a result, there’s not really a downside to getting a pre-listing inspection, and it actually can work in your favor.
By sharing the results of a pre-listing inspection upfront, your buyer knows that you (and your house) have nothing to hide. This transparency could even sway a buyer to purchase your home, instead of the one next door. This step could also save you time negotiating repairs at closing because you and your buyer will have that conversation earlier in the process.
Final thoughts on pre-listing inspections
Nobody wants to be surprised when buying or selling a house. That’s why inspections are critical to home sales. Luckily, sellers have the opportunity to get ahead of the process with pre-inspection listings.
Interested in other ways to simplify the home buying and selling process? Orchard’s Move First service can help. Instead of waiting for your current house to sell before you can buy your new one, Orchard gives you the ability to shop without your home sale delaying your timeline. We’ll also help you make a competitive, non-contingent offer to buy your next home, then sell your current home for top dollar in 120 days or less.
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