The sale of a home can be a very stressful time for the buyer and the seller; both parties can have a long and potentially exhausting and expensive to-do-list. One of the most important items on a buyer’s to-do-list is the home inspection. Home inspections are vitally important to buyers because it can save them a lot of heartache by knowing the true condition of a house before they decide to complete the purchase. Home inspections can also play a huge role in price negotiations between buyer and seller. There are many reasons for a potential buyer to invest in an accurate home inspection, but how can having a home inspection help the seller?
The Real Estate market is still slowly climbing towards a comeback, and in many areas, there are more houses on the market, than there are qualified buyers. In some cases, where interested buyers are plentiful, many sellers are not doing enough to stand out above the competition. In the past, most home inspections were on the buyer’s check list to be completed before closing the sale. This process added more stress to the sale because this meant that buyer requests concerning repairs, had to be done quickly and at the last-minute.
If the seller does a home inspection before the property is listed, detailing the condition of the home, repairs needed, concerns that need addressing, it can actually put them ahead of the game when it comes to appealing to potential buyers. Buyers will then be able to know ahead of time what they are dealing with and be able to make a clear decision about buying the property. The seller also pays for the pre-listing home inspection, which is a plus for the buyer because it eliminates some of their costs. This is also an advantage for the seller because it attracts more prospects and positions the home for a quicker sale.
Pre-listing home inspections also benefit the seller by adding a level of credibility to the seller’s asking price. Buyers will be more likely to see the asking price as a more accurate number, because the home inspection has been completed, therefore all the imperfections have been discovered. This puts the buyer at ease, knowing and being able to address any concerns before getting too deeply involved in the sale process.
In the current market where there are often more properties for sale than potential buyers, sellers must do whatever they can to stand out and appeal to the most prospects. Taking on the responsibility and cost of the home inspection, gives buyers the opportunity to make better decisions early on in the game. This is not only an advantage for the seller, but also a wise choice that will most likely bring about a quicker sale.