Typically, home inspections are considered to be one of the top priorities for home buyers. Understandably so as pre-purchase home inspections would give them a great deal of information about the property that they will be purchasing, hence the value of the said process.
In recent years, however, it has been increasingly becoming a trend for home owners to conduct home inspections before selling their properties. Why? Because they have realised the immense number of advantages an inspection can offer with regard to the marketing and pricing of their properties.
What are the advantages of a pre-sale inspection to the seller?
There are two important ways with which a home inspection is important in pricing. First of all, it helps the owner put a price reasonable enough for the market to consider. Understandably, it is indeed hard to remain impartial about their property due to its sentimental value. By undergoing an inspection, the property can be priced according to the objective information produced by the inspection report.
Secondly, an inspection report will provide a thorough reflection of the current state of the property, regardless if it is in good, bad or ugly shape. It will then serve as a benchmark for the seller when pricing the property. They can either set a higher or a lower price, depending on its true condition.
Improving the marketing impact
The good thing about pre-inspected homes is that they can be more attractive to prospective buyers than you realise. Knowing that a home is pre-inspected takes the doubt out of the equation, making it easier for a buyer to decide.
Having the upper hand at negotiations
The best way to gain the advantage when dealing with negotiations is to know all about the current details of the property’s condition. By doing so, the property owner will have the chance to find out about problems related to the property, giving them ample time to do repairs. What happens if the seller chooses not to make repairs and discloses the property’s defects upfront? The price can be adjusted accordingly, at the same time, can still quiet the buyer’s objections.
It is required by many communities that sellers disclose the actual condition of the home that they are selling. And to put them in a better position to do that is by having a professional home inspection. Having a home inspection report provided by an unbiased third party puts more credibility to the seller and helps protect them should any post-sale legal issues arise. Although it is really not a guarantee that disputes will be settled in the seller’s favour, the fact that a pre-sale inspection was done only shows an effort was done in good faith on the part of the seller.
More often than not, sellers who opt to find out the true condition of their properties prior to sale get more referrals than those who don’t. On the other hand, it cannot be avoided that buyers would still request for a professional inspection of their own. However, this would be the least of the seller’s concern as the chance of getting unfavourable surprises that could spoil their deal are highly unlikely.