Home Inspections before Going on the Market? ABSOLUTELY!
More and more, Sellers are having a home inspection conducted before they list the house.
Why would they do this?
The main reason is to find and address issues BEFORE they come up during the inspection period when the house has gone under contract.
Let’s look at this from the buyer’s side for a second:
The buyer will often see (and fall in love with a house). They will make an offer and after several rounds of back and forth, the seller and the buyer agree to a price – often the buyers will feel like they are already “paying too much.” But they love the house and can make it work. As the house goes into the inspection period, the buyer will have a home inspection done and the home inspector will find a long list of small items. Often these items are easy to fix – some of the most common are: small electrical issues with plugs, locks not working correctly, clogged vents, appliances not working as they should, small roof leaks or flashing issues, etc.
All of these issues are hopefully relatively minor. But, when a buyer sees a list of twenty or thirty items in the house that they FEEL they are already sinking too much money into, they will often come back requesting a large price reduction, or walk away from the contract. Each contract varies dramatically as to what the buyer can do, so talk to your agent about how the inspection portion of the contract will work. They should talk to you in a broad outline about some of the possible outcomes.
Now, let’s circle this back to the house where a pre-listing home inspection has been done. The home inspection reveals only a couple of things, the buyers feel comfortable with the house, and by spending a small amount of money before listing, the seller can avoid reducing the price dramatically to hold onto a buyer.
One last thing to remember is that if you do a home inspection and it reveals something that requires disclosure, you will need to include that on the sellers disclosure – remember the buyer will find out about it anyway during the inspection!