Home inspections have traditionally been for the benefit of the purchaser. Pre-inspected listings benefit all parties – purchasers, vendors and Realtors.
My Pre-listing Inspection is a Home Inspection that is performed before the house goes on the market. The benefits of this Inspection help create a powerful marketing tool that can be used during the process of selling a house.
Deals Won’t Fall Through
Home inspections, performed as a condition of the offer, can kill deals. Sometimes this is because the purchaser gets cold feet; sometimes there’s a big problem no one knew about. Sometimes it is because the house has been misrepresented; sometimes it is because the home inspector scared the purchasers by not explaining that minor and typical problems are just that – minor and typical.
If the Home Inspection is performed prior to the house being listed, all parties will be aware of the physical condition of the house before an offer is drawn. There will be no surprises after the fact. Deals will not fall through.
Pre-inspected Listings Avoid Renegotiation
In a buyers’ market, most houses have to be sold twice. It takes a lot of work to get a signed Agreement of Purchase and Sale. Then the home inspection is done and the purchaser wants to renegotiate.
If all parties know the condition of the house prior to the offer, there is no need for renegotiation. As most real estate agents know, renegotiation is very difficult. Vendors have already mentally sold the house; purchasers are suffering buyers’ remorse. Egos, pride and frustration can muddy the already emotional waters.
A vendor who pays for a home inspection will be further ahead than one who has to renegotiate. He or she may even sell the house faster.
Repairs Prior To Sale
Sometimes, the Home Inspection will reveal items which should be repaired immediately. A pre-inspected listing allows the vendor to repair the problem prior to putting the house on the market. If you choose to make improvements to the home, you may attach any receipts for work completed to the Report.
If the inspection occurs after the Agreement of Purchase and Sale, the purchaser could walk, renegotiate or, depending on the inspection clause, the vendor may have the option to repair. A repair done by an unmotivated vendor may not be the best repair and may not meet the purchasers’ expectations. This has caused more than one deal not to close.
Peace of Mind for the Purchaser
There is no doubt that part of the value of a Home Inspection is a guided tour of the house for the prospective purchaser. The purchaser may engage me (Paul Studholme) to perform a walk-through inspection, and discuss the findings with the purchaser. (Fee is $250.00) This creates a contractual relationship between me (Paul Studholme) and the buyer.
My Web Site
Please check out the kind of Inspection report that would be created, printed out and displayed in a clear sheet folder for buyers to see. Sample Inspections Here
How Will Pre-listing Inspection Benefit Me?
1. Home may sell faster!
2. Home may sell for more money!
3. No more buyers walking away because there may be a problem with the house.
4. No more 11th-hour re-negotiations based on the inspector’s findings.
5. No more helpless feelings that an inspector has raised an issue that is not a big problem.
6. No more buyers getting cold feet when they find out the home is not perfect.
7. No more buyers walking away because they don’t have time for an inspection.
8. No more parade of inspectors through your home before a multiple-offer situation.
9. You resolve any differences of opinion about the house before it goes on the market.
10. All homes have room for improvement. Disclosing the condition of the home allows you to reflect the condition in the listing price, rather than have to negotiate again later when the issues are discovered.
11. You fix any conditions identified (if you choose to) or simply reflect it in the purchase price. This takes it off the table as a negotiating point against you.
12. The inspection includes a report that becomes the buyer’s guide to home ownership for years to come