Add logic, clarity, and speed to your transaction with a home inspection.
Having a home inspected prior to listing it for sale is a wise choice. This lets the players know you’re sincere in marketing your home to prospective buyers. You also demonstrate initiative in selling your home quickly by being proactive and investing in part of the transaction before you’ve listed your home for sale in the market.
Logic with a Seller’s Home Inspection
Traditionally, a client and agent spend a great deal of time finding that perfect house. All of the i’s are dotted and all of the t’s are crossed and the final signatures are put on paper for what the buyers are eager to call home. Then they get a home inspection to figure out exactly what it is they’re buying.
Then the buyer receives a copy of the home inspection report where they learn the condition of the property they have already committed to purchase. They learn the home is not perfect (we know it’s not going to be perfect because none are) and the delicate dance of the negotiating process begins all over again. Now the selling agent begins selling the home all over again. The listing agent begins selling the home all over again and not only that. They have to inform their seller that the buyers would like to take even more money off the price of the home.
Adding logic to this process with the use of a Seller’s Home Inspection would have given all of this information up front before the buyers ever made an offer to purchase this property. Therefore, all upfront negotiations would have included the results of the home inspection and eliminating any renegotiating due to the condition of the property.
The home inspection process is done backwards!
Speed with a Seller’s Home Inspection
Everyone knows the condition of the home upfront and as the negotiations start, the end can be the focus instead of the next step of securing a reputable home inspection company to evaluate the property. This also eliminates the “further evaluation” scenario. It happens on occasion that issues are raised during a home inspection that require further evaluation or a second opinion. This can be done before the home is listed as opposed to during the middle of an emotional and stressful real estate negotiation.
In very competitive situations, buyers may be more apt to make an offer without deliberating for lengthy periods of time. Also, buyers could be more likely to make an offer on a home they know has already been inspected over other similar homes in the area.
In today’s real estate climate, it’s important to set your home apart so potential buyers will remember it. Statistically, the odds are that the home is going to be inspected anyway, and it’s wise to have this done early in the process.
Clarity with a Seller’s Home Inspection
Completing the home inspection process before the home is listed on the market, takes the mystery out of the home for most buyers. Buying a home is a huge investment and can be a daunting task. For first time home buyers or for traditional condo owners, there is a hint of the unknown and sometimes that can be a scary feeling which can result in cold feet. Having the Seller’s Home Inspection done up front gets all the cards on the table and the physical condition of the home is out in the open. This makes the transaction more transparent for the prospective buyers and they can now focus on other parts of the process such as how well their furniture will fit in the house and when they’ll have their first house warming party.
Won’t the buyer get their own home inspection anyway?
The prospective buyers of your home may get their own home inspection done anyway. If so, that’s great! It’s always better to have another set of eyes looking at the property. There will always be some minor discrepancies with reports. After all, a home inspection is a sampling exercise and it’s a snapshot in time. The two reports will be aligned around areas concerned the major systems and components of the home. This will instill confidence in the buyer and hopefully allow them to put more trust in the home, the seller, and the overall process.
Should the seller fix the items listed in the home inspection report?
Our advice is no and for several reasons. Here are some examples:
Through the course of a home inspection it is determined for the seller that their roof is at the end of its useful life. The seller decides to be proactive and replace the roof. Given the nature of people, the seller replaces the roof with a standard, builder grade material but, it’s still a new roof. Let’s assume that we have a prospective buyer looking for a home with a wood shingle roof. Now it’s not cost effective for the new buyer to replace the new roof with wood shingles. Had the seller left the old roof in place this may have attracted the buyer and the price would have been adjusted accordingly before the negotiating process started.
The same scenario can be described with an old furnace. A seller will be motivated by price and may only purchase a standard furnace. In the event there is a buyer that is interested in a high effeciency system it would be cost prohibitive to remove a brand new furnace. Had the seller left the older equipment in place, they could have adjusted the price of the home before putting it on the market and this may be more attractive to some buyers.
A seller usually uses the price of repairs as a deciding factor when hiring a contractor. After all, they’re going to be selling the home soon. This can lead to poor quality work being done which can cause more delays and more costs. We recommend adjusting the price accordingly which will allow the new home buyers to get the work done to their own specifications.
What about the Buyer?
There is a concern if the buyer will be at a disadvantage because they did not participate in the inspection process. Since we offer an On-site Review with prospective buyers to ensure they understand the home inspection report and the home we haven’t found this to be the case.