How a Pre-Listing Home Inspection Can Help You Avoid Surprises During Negotiations
A pre-listing home inspection is used to make the home-selling process smooth and profitable for the seller. It can be marked as a smart move by the sellers to improve the value of their properties. Such inspection before listing a home is not necessary, but it’s beneficial in many ways. It helps the seller to avoid surprises during negotiations.
What is a Pre-Listing Home Inspection?
A pre-listing home inspection is a type of inspection that a seller books before listing the property for sale. This inspection reveals the actual status of all components and systems of the building. Knowing this information before listing helps a buyer to make repairs and list a perfect home for sale. Such homes are sold for a better price.
What are the Benefits of a Pre-Listing Home Inspection?
An ordinary home inspection at the time of a property transaction helps the buyer to know about the property and make the decision accordingly.
“The best way to predict the future is to create it.” (Abraham Lincoln)
The benefits of a pre-listing home inspection are listed below:
- Identification of the Issue Before the Buyer
A prelisting inspection allows a seller to know about the goods and bads of the home before the buyer knows them. Having knowledge of all visible and hidden issues keeps the buyer a step ahead.
- Making Repairs on Your Own Terms
Once you know about the problems in your home that need to be addressed, you can schedule your preferred contractor and get the job done on your own terms. You can control the repair quality and costs. Moreover, you will have plenty of time to get the work done.
- Listing of Home for a Better Price
Determining the price while listing a home for sale is the most crucial part. Once you are aware of the condition of the property and you have made essential repairs, you can confidently list your home for a better value. Having a pre-listing inspection report provides you with a stronger base for your pricing strategy.
- Build Buyer’s Trust
It’s the transparency that helps to build trust. The sellers with a pre-listing home inspection show the intentions of making a transparent deal. It means the seller has nothing to hide and is committed to an honest transaction.
- Speed Up the Sale Process
According to the National Association of Realtors (NAR), 11% of deals get delayed due to home inspection issues. Once the seller has a report of a pre-listing home inspection, the time period can be reduced. It helps to speed up the process by keeping everything transparent and winning the buyer’s confidence.
- Stand Out in a Competitive Market
In a competitive market, the buyers will be attracted to your home if you already have an inspection report and you have fixed the problems in your home. Due to a trust built on your home’s condition, it can stand out in the market.
- Reduce Chances of Buyer Cancellation
It is a big relief for the home seller; the deal, which is transparent, is less likely to go for cancellation. The whole transaction process remains smooth from start to finish, while having an inspection report.
How Pre-Listing Home Inspection Helps to Avoid Last Minute Negotiations Drama?
The last-minute negotiations often end in the cancellation of the deal or making one of the parties really unhappy with the deal. The buyers claim for the costly repairs and ask to reduce the price of the property. These surprises are like hurdles in the sales process, and sometimes they kill the deal entirely.
On the other hand, if the seller has a pre-listing inspection report, such surprises can be avoided. The buyer’s inspection report will discover the same issues that have already been revealed by the seller’s inspection report. This can reduce the buyer’s leverage during negotiation talks.
Can a Buyer Get Benefits from a Pre-Listing Inspection?
The pre-listing inspection is helpful for both buyer and seller. If the inspection is conducted by a well-reputed inspection company and covers all requirements, the buyer can trust it and skip his inspection. This can save the buyer’s inspection money and help to close the deal in the least possible time.
Final Thoughts
The pre-listing home inspection has enabled the sellers to sell their homes for a better price. The seller can avoid surprises at the negotiation table and sell their property easily.
The buyers also prefer such a home that has been inspected before, and the issues in the home have been fixed. It creates a win-win situation for both the buyer and the seller.
In today’s competitive market, if you are also willing to sell your home in a transparent way for a better price, you should book a pre-listing inspection and proceed with the selling process with peace of mind.