Most of us might already be known for the idea of house or home inspections, which are generally conducted on demand of a buyer. For this purpose, a buyer should seek help from a professional to inspect their new potential property for structural defects or pests. This report helps them make their final decision as to whether or not they wish to purchase the property, and at what price. However, there’s another type of inspection that can be conducted at the request of the seller. Although people are less familiar with home inspections before placing a property on the market, these can offer sellers a variety of advantages. They are known as pre-inspections and can help alert you to conditions in your property that may affect your sale.
What is a Home Inspection?
Only an expert professional could help you with your property inspection before your property will get listed in the competitive marketplace. This could include a licensed tradesman or builder for property inspections, or a pest technician to search your property for pests. The cost of the home inspection will depend on the type of inspection you decide to pay for, whether it’s building, pest, or both. Other factors that will influence the cost include the size of your home and whether or not this includes external areas such as a shed or garage. During these inspections, the professional will search your property from top to bottom for signs of damage or flaws.
Although some people might say that home inspections are unnecessary, they may reveal hidden flaws that you had no idea existed. Even after living in a property for many years, you may not notice structural damage or hidden pest problems. Although your home may look brand new, there could be secret problems that could lead to much larger issues down the road. This could include defects within the walls, in the foundations, roof, or plumbing systems. Because these are areas that you rarely inspect on your own as a homeowner, it takes a professional eye to locate and assess these damages.
The Added Security of a Home Inspection
If there are hidden flaws in your home’s foundation or structure that you don’t know about, the last thing you want is for your buyer’s inspector to be the first one to find them. By arranging for your own home inspection first, you can help prevent any unpleasant surprises during the negotiating period. Otherwise, your sale could fall through, or the buyer will ask you to lower the price or arrange for repairs. This could cost you the sale entirely or cost you money, neither of which is ideal. Maintenance that is completed on the buyer’s terms could be quite expensive because the buyer will most likely try to mark up these costs to their own benefit. They may negotiate that something needs to be replaced when it probably could have just been restored at a fraction of the price.
Therefore, the major advantage of conducting your own home inspection is that you can retain control of the selling and negotiation process. By identifying problems early and on your own terms, you can fix them to your financial advantage. You’ll have the time to shop around to find the best deal on home repairs, rather than agreeing to the buyer’s terms to have repairs completed by settlement. With the help of your own inspector, you may find ways to fix problems on your own without involving expensive contractors. You can also ask your real estate agent for advice regarding the best types of repairs to add value to your home. It’s best to choose a local agent who has a strong working knowledge of comparable homes in your area. You can compare agents using the free online dashboard at HouseDoctorsInc for a quick and easy way to find a local expert.
It’s better to have your own report rather than simply taking a buyer’s word for it. Although some may see home inspections as redundant, this gives you a legal leg to stand on if the buyer decides to sue you for non-disclosure of any problems in the home. You will have your own professional assessment to challenge their claims with.
The Financial Advantage of Pre-Inspections
It’s true that pre-inspections do require some investment, but they can increase the value of your home in the long run and give you some edge over your competition. If you are able to produce a report that certifies your house as pest-free and without any need for maintenance, this will help attract buyers. This may save the buyer the cost of arranging their own inspection and helps ensure an overall smoother closing process. Buyers may have greater confidence in making an offer on your property because they will have an official document from an unbiased third-party certifying its true condition and value.
All of this can instill positive feelings in the buyer towards your property. Taking the time to conduct pre-inspection shows the buyers that you are being transparent and have nothing to hide. They may have greater comfort in purchasing a strong investment. On your end, a pre-inspection gives you peace of mind knowing that there won’t be any last-minute surprises to derail the sale.
