Why you should get a pre-inspection before you list your home for sale.
A pre-inspection gives you a heads-up on what a buyer will likely discover and a head start on identifying what to fix and update. You may decide not to do needed repairs, but your selling price will likely reflect that.
Here are a few reasons why you should consider putting a pre-inspection on your pre-sale to-do list.
Accentuate the positive
Although many tend to think of a home inspection as a negative thing, many positives usually come out of the process. This is especially true if you’ve renovated an older home by updating plumbing, electrical or heating and cooling. An inspection will give those systems a clean bill of health, putting a potential buyer’s mind at ease.
An indication of honesty
Doing a pre-inspection sends a clear signal that you’re not trying to hide anything. It might even make a buyer feel confident enough to submit an offer. Even if a potential buyer decides to pay for another, independent inspection, your initiative should convey you’ve cared for your home. This is especially useful if you’re selling your home on your own, without a listing agent. Showing the buyer that you are willing to go the extra mile is never a bad thing.
(More honesty will come when you accept an offer on your home. You’ll be required to complete a full disclosure form which requires the seller to share anything they know about the home that could negatively impact the value of the home.)
Reality check
You don’t want to be blindsided by a major problem in a buyer’s inspection. A pre-inspection lets you plan ahead by identifying what repairs need to be done, and prioritize what you can afford to fix.
A pre-inspection gives you the time to check prices for materials and labor for any needed repairs so you can budget for the things you (and possibly your agent) decide are worth fixing.
Negotiating tactics
Having a thorough inspection of your home can help you prepare for negotiations with a buyer. You’ll know where to stand your ground and where you might need to give a bit. For example, if you know your home will need a new roof in a few years but have chosen not to replace it, you may need to give a bit on price. Knowledge is power, and in this case, knowing is also part of your bottom line.