The importance of a home inspection is clearly understood by most property owners, investors, real estate professionals and even first-time home buyers. What many individuals don’t understand is how important and reassuring a pre-listing inspection is for all parties involved.
Sellers and buyers are typically seen to be on opposite sides of the bargaining table. However, when pre-listing inspections occur, all parties confirm that it is an approach that reduces fears, anxiety and defensive tactics. Let’s discuss why this prevails as a best practice for sellers, buyers and realtors.
- Sellers’ Strategy
Sellers want their transaction to move along smoothly and quickly. They want stress-free, professional representation and the best price possible. This is the description of a positive real estate experience, yet for many, their narrative following a sale is exactly the opposite.
Motivated sellers will take all steps necessary to improve their property and make it as appealing as possible. This includes making repairs, cleaning, painting, decluttering—and yes, having the home professionally inspected. Unfortunately, many sellers wait for the buyer to make an offer and then hire an inspector. We’ve seen this method backfire too many times.
When the inspection takes place before showings and offers, the seller has a report detailing all possible issues that a buyer might consider as reasons for negotiation—or a deal breaker. When the condition of the property is clearly understood, the seller can calmly determine which items require immediate action and which are lower in priority.
- Buyers’ Confidence
Buyers who are looking for their next home want a property that complements their lifestyle, budget and schedule for occupancy. Stress levels rise if any of these factors appear to be at risk. Once an offer has been made, any unexpected information about the condition of the home or future expenditures for repairs or replacements will seriously rock the boat.
When an inspection is conducted after the offer is made, tension generally follows. Often, buyers do not completely understand what the inspection report really means to their financial future, and they can overreact. This is another reason why a knowledgeable, customer-focused inspector is essential to ensuring that the buyer understands each section of the report.
A trustworthy inspector will detail the condition of the house from foundation to roof, exterior to interior. They have the experience and the proper tools to uncover defects that would likely escape notice of the untrained eye. It’s critical to have a professional opinion of the mechanical systems, appliances and probable lifecycles. The buyer will see the property in its true light—no stress needed—and no squabbling on price factors related to inspection concerns.
- Realtors’ Relief
Realtors breathe a sigh of relief when a home has been inspected before showings begin. If they are representing the seller, they know the details inside and out, and can convey honest and accurate details to prospective buyers. Buyers can sense the confidence in the information and feel confident in their own decision to make an offer.
When realtors are working with buyers, the same sigh of relief is apparent. Experienced agents represent their clients with expertise and understand the value of comprehensive information. The details are less complicated, and the inspection report reduces apprehension and sets the stage for a smoother transaction.
Should I Get A Pre-Listing Home Inspection?
No one likes surprises during a real estate transaction. A pre-listing inspection can relieve the anxiety that otherwise might arise at the last minute. An unfavorable report can be a deal breaker that quite possibly could have been avoided with proactive attention.
Buyers, sellers and realtors all benefit from following this favored seller sequence:
- Hire a respected, experienced realtor.
- Engage a trusted home inspector, preferably one with ASHI certification.
- Make any improvements that will increase the value and desirability of your home.
- Confidently place your home on the market, positioned for success.
Selling a home is an emotional time, often filled with stress because of the demands on an already busy schedule. Your pre-listing home inspection will provide a data-driven voice of reason and foundation for a successful sale.
If you found this blog inspirational, please share it with a friend who could also benefit. And if you’d like to continue the conversation about best practices for Minnesota home inspections, give Bill Bisek a call at 612-554-0805. Thank you!