Pre-Listing Inspection Benefits the Buyer and Seller
Home Buyer Benefits
There are many pre-listing inspection benefits and quite often when inspections are performed on the buyer’s side of the real estate transaction. Deficiencies are discovered and that process can “kill the deal”. Buyers take time off work to attend the home inspection and that will cost them money. The buyer can also have up to $2000 in costs associated with a home inspection, appraisal, well/septic inspections, environmental testing, etc.. If a buyer “walks away” from the house, then all that money and time is wasted and will never be recovered.
Pre-Listing Inspection benefits to buyers include:
Pre-Listing Home Inspections are great for buyers because it will save them time and money.
When Pre-Listing Home Inspection Reports can be viewed, buyers will have some information upfront about the condition of the house. This can help buyers make a more informed buying decision.
Buyers worry less about spending weeks or months looking for houses, getting an accepted offer, and then an unforeseen issue. These unforeseen issues are often blamed for killing the deal…
Buyers can meet with the inspector that performed the Pre-Listing Home Inspection and get a new report issued in their name. This could help them learn about systems of the house, and this process may be at a reduced rate. “This discounted rate may or may not be offered by the home inspector.”
Traditionally, buyers waste time fighting traffic and traveling to houses. The Pre-Listing Home Inspection report can help buyers make a more efficient list of houses to view. Simply put, the process streamlines searching for homes.
Buyers could receive offers from National Companies which would offset the cost of the report fee.
Buyers can have $2000 or more wrapped up into inspections, appraisals, earnest money, etc. If a buyer “walks away” from the house, then much of that money is wasted and will never be recovered. Certainly, the time spent on that house will never be recovered. Getting inspection information about houses before making an offer can save the buyers time and money.
Buyers worry less about being blindsided with unexpected deficiencies and costs.
Buyers know about some deficiencies before they make an offer on the house and can price their offer accordingly.
Home Seller Advantages
There are many pre-listing inspection benefits, furthermore nothing is more frustrating for a home seller than to have a potential sale fall through. In most cases this is because of an unforeseen issue found by the home inspector just before the closing.
Home sellers are much better off knowing the true condition of their home prior to accepting an offer. This allows the home seller to plan accordingly and puts them in a position of strength during the negotiation.
The benefits to home sellers from the Inspected Houses Pre-Listing program are numerous…
Know about deficiencies prior to listing the house and they are not blindsided by unforeseen costs and unexpected repairs.
Have an opportunity to build repair costs into the price of the house.
Make repairs themselves prior to accepting an offer.
Shop around for quality repairs at fair prices.
Worry less about deficiencies “killing a deal” and making more mortgage payments.
May be more legally protected when performing Pre Listing Inspections because they are fully disclosing the condition of the house. Also, they have an independent report as well as the disclosure form to show potential buyers.
It informs any potential buyers what repairs were made or will be made to the house PRIOR to listing. This process streamlines the negotiating process and puts the seller in more control of the transaction.
Agents promoting Pre Listing Inspections say their listings have more showings, leading to higher sales prices and faster closings.
Sellers have an opportunity to post the Pre Listing Home Inspection report and offer it for sale. In doing so, they can recover some of the money spent on the Pre Listing Home Inspection.
Sellers have an opportunity to accept offers from National companies and some of these offers combined are worth hundreds of dollars.
There are many prelisting inspection benefits, so schedule your Buyer or Seller Home Inspection today! Mention this blog post and recieve $25 off the cost of the inspection!!