Save Thousands with a Home Inspection
A home is a very large asset and if you have already moved into a new residence, paying two mortgages can burn a hole in your pocket very quick. Relying solely on the buyer to have the home inspected to find any problems can result in a substantial discount on the selling price or a very large repair bill to complete the sale and relieve the financial stress of the property.
One of the most beneficial elements of having the inspection completed beforehand is the fact that you’ll have the opportunity to get multiple estimates for repair from contractors you trust. Coupled with a flexible timeline, performing any repairs before entering into a sales contract can save you thousands in material and labor costs and ensure the sale goes through.
If the repairs are extensive, another option is to simply list the home “as is” and reflect the cost of the repairs in the asking price instead of being blindsided halfway through the sales transaction with a low-ball counter offer.
Improve the Value of your Home
Having a professional inspect your home before the house is listed on the market has the benefit of allowing you to accurately place a value on the home. No home is perfect, and in many cases, small, inexpensive fixes can add thousands to your home’s market value.
A sellers inspection also makes an excellent selling tool to attract more buyers. Potential buyers will be able to see what problems were found and see what repairs were made or what repairs need to be made improving buyer confidence and therefore the perceived value of the home. The likely hood of receiving an offer will increase and many times the offers will be stronger.
Enjoy an absolute peace of mind knowing that you’re aware of the condition of the property before accepting or rejecting any of the offers made by the potential buyers.
Negotiate Like a Pro
They say knowledge is power. A sellers inspection will provide you with the knowledge necessary to give you an upper hand in negotiating the sale of your home. Initially knowing what repairs are needed and what they will cost will allow you to price the property with some wiggle room to account for any discounts the buyer asks for to cover repairs.
Additionally, knowing the cost of the repairs will prevent the buyer from overestimating the cost of the repairs in an attempt to get a better deal. After the initial negotiation is complete and if you accept their offer you take solace in knowing that the buyer’s inspection will likely be nothing but a formality and not put the sale at risk.
Expedite the Sale
The Sales Contract for any serious real estate transaction will always contain a condition which clearly states that a buyer may cancel or renegotiate the sale pending an unfavorable home inspection. This contingency is commonly referred to as an “Inspection Contingency” or “Due Diligence Contingency.”
Serious buyers will always take care to hire a professional inspector to perform an inspection of the real estate before they make their purchase. If the Inspector uncovers some issues with the property – you’ll end up with two choices, neither of which will benefit you, the seller. Either you’ll sell the home at a lower price or be forced to pay for the repairs at the last minute. That is, of course, if the Buyer doesn’t get cold feet and give up on the deal altogether…
If potential buyers are made aware of any issues before making their offer, there will be no reason to cancel the sale or renegotiate the price. The buyer’s Inspection will simply reinforce the property condition you have disclosed and prevent any last-minute delays.
Seller’s inspections are becoming increasingly popular for a good reason: They make the sales process a much simpler, quicker, and more reliable.