pre-listing inspection

Pre-Listing Inspections

If you don’t have a pre-listing inspection here are some things that might happen to you. A buyer puts a contract on your home with a provision to have a professional home inspection. What could come out of the home inspection are items that your buyer didn’t expect or anticipate. If the buyer doesn’t decide immediately to terminate the contract, then they will expect the seller to make all the repairs.

The seller however may take the opposite position when presented with the Buyer’s Request for Repairs and not want to do any of the repairs. The buyer could then accept the property in “as is” condition or have the Realtor negotiate either repairs or a reduced price with the seller.

One of two things can happen, either a mutually agreed negotiation is reached or an impasse that cannot be resolved. The contract becomes terminated and the house goes back on the market but with disclosure being made to all future buyers that may deter showings.

At the urging of the Realtor, the seller can be pro-active and obtain a pre-listing inspection. This inspection will let the seller know what items would show up on a buyer’s inspection. The seller can then get all the repairs done before the home goes on the market and present the report plus receipts showing a repair has been made. Buyers will feel more confident buying a home that has been cleared by a pre-inspection. Either way, the seller is now the one in control and forms a position of transparency with any potential buyers.

There are a few cases where the seller’s pre-listing inspection may show items in working order where a buyer’s home inspection might not. When you use two parties with no relation to the buyer or seller, you change for a mutually agreeable negotiation is more likely.

When you can disclose items that are not in working order you reduce the event of future liability. Some things are just not discovered prior to closing and these surprise issues could lead to liability. By getting a pre-listing inspection by a professional and disclosing the results in the listing, you will reduce your potential risk for future liability.

A pre-listing inspection is a small investment that will reap many benefits. The seller and the potential buyer will have a better idea of the condition of the home and know what to expect. The seller can present the home in a transparent manner that builds confidence with buyers. The seller will avoid unpleasant surprises and be able to anticipate any delays. Pre-listing inspections can lead to quicker sales.

For more information, download the Sellers Guide.

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