If you’re thinking of putting your home on the market, you may want to consider a pre-market home inspection. Knowing what condition your home is in and having a chance to make repairs before you list it will avoid surprises down the road and make a smoother transaction once an offer has been made.
Benefits of Doing a Pre-Market Home Inspection
There are pros and cons to doing a pre-market home inspection. Once you do an inspection on your home, you’re required to disclose any defects to the buyer. You’ll have to pay for the inspection, and the buyer will want to do their own inspection. However, the pros far outweigh the cons, and a pre-market inspection is a good idea for several reasons.
- You’ll find out what condition your home is in. It’s best to find out what issues your home may have before you list it rather than when the buyer conducts their inspection. If problems come up during the buyer’s home inspection, it could kill the sale. Make sure you choose a reputable inspector who will inspect your home thoroughly.
- You can make repairs before listing. If your home inspection uncovers defects in your home, it will be better to be able to do those repairs on your own time. If the defects are uncovered during the buyer’s inspection, you’ll have to make any needed repairs by closing day.
- You’ll be able to price your home more accurately. Choosing a selling price for your home can be tricky. If the price is too high, you could lose the sale. If it’s too low, you lose out on more money. Your real estate agent needs to be sure of the condition of your home to decide what the listing price will be. Their job will be a lot easier if you’ve done a home inspection already and made the recommended repairs.
- You’ll have to negotiate less. Doing a pre-market home inspection could potentially give you, the seller, more bargaining power when negotiating the sale. Also, if you haven’t done the pre-market inspection, the buyer can use the results of their inspection to get concessions or re-negotiate the sale. If you’ve already done an inspection, the condition of your home is known when you start your interactions with the buyer.
- You’ll give the buyer more confidence. A buyer will feel more confident about making an offer on your home if you can hand them the inspection detailing the condition of your home. If no inspection has been done and the buyer suspects there are issues with your home, they may offer less for it. Any buyer is already skeptical about the condition of the home they are considering buying until their own inspection has been done. A pre-market inspection can take a lot of that skepticism away.
- You can increase your profit. An inspector can advise you on issues that a buyer might be concerned about. By addressing these issues, you can add value to your house and possibly increase your profit.
- You’ll have less stress. Selling a home is challenging to begin with. Not knowing if something is wrong with your home adds even more stress. By doing an inspection before listing, you have peace of mind knowing that you’ve already uncovered and dealt with any issues.
- You can address neglect. We’re all busy and easy to let things slide for too long like painting, replacing old and warn carpet, or fixing rotted wood or broken door handles. Doing a pre-market inspection gives you a chance to address these things before you list your home.
Looking for real estate services in Gainesville, Haymarket or Bristow? Contact your local real estate expert Belinda Jacobson-Loehle of Jacobson Realty and Home Staging In Gainesville, Virginia today. Also be sure to sign up now for a FREE copy of my eBook, “The Real Estate Key – What You Need to Know!”
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