Benefits are Numerous
The adage of the “benefits outweigh the risks” still doesn’t seem fitting.
Pre-listing home inspections have commonly been used by trust administrators, investors, landlords, and other entities when the owner doesn’t live on the property to gain firsthand knowledge that sheds light on value as well as issues that may complicate the sales process and extend timelines.
These days, savvy sellers order a pre-listing home inspection before they list. This gives sellers the advantage of a detailed, independent, objective evaluation of their home by a professional home inspector. Benefits include increased control of the listing. This improves the overall selling process and can accelerate the the escrow timeline.
Let’s break this down
Control – Sellers can offer a pre-listing home inspection report to buyers interested in making an offer on their property. This report is not a substitute for a Transfer Disclosure Statement (TDS), but it can augment one. With an inspection before listing, a seller has the benefit of important information to help them consider whether or not to make specific repairs before listing. Sellers can also opt not to do repairs and let the buyer factor those repair costs in their bid. This actually may be preferable with finish improvements allowing the buyer to go “shopping”. Buyers can bring their contractors to a showing to get estimates. Either way, this will reduce the “Request for Repairs” process.
Professional realtors are keen negotiators; some of the best. They’ll offer high for an accepted offer, then use the home inspection findings to submit a “Request for Repairs” for aggresive credits reducing the overall offer. A pre-listing home inspection can minimize this strategy.
Saves Time – Home inspections often recommend further evaluations by trade professionals. These secondary inspections consume valuable time. Buyers can use the pre-listing home inspection to begin lining up contractors – reducing the time needed for secondary inspections and enabling the buyer to get to their move-in date quicker. With this knowledge in hand, buyers could consider a shorter escrow window that may make their offer more advantageous.
Success – The last thing anyone wants to see is a failed escrow. Everyone loses. Home inspections is one of the top reasons why escrow fails. Pre-listing home inspections help prevent valuable loss of time, energy and costs. The pre-listing home inspection benefits everyone involved.
At end of the day, everyone involved has much to gain with a pre-listing home inspection. Many of these advantages tilt towards the seller.
Every professional realtor should suggest the benefits of a pre-listing inspection to a seller. These strategies are why your clients appreciate your expertise, insight and professionalism.
Escrow Pre-Listing Inspections
Inspection Perfection now offers to escrow of fees for Pre-listing Home Inspection services. This removes the potential resistance of sellers by avoiding additional out-of-pocket expenses. Contact our office for more details (888) 552-4677.