Jane and John are planning to sell their beautiful three-bedroom house and move to a bigger house. They meet with their trusted listing agents Adam.
Adam reviews the selling process with Jane and Adam and explains that inspection is an important integral part of selling and buying a house.
The inspection gives peace of mind to both sellers and buyers. Once the inspection is done correctly, it can save a lot of headaches for buyers and sellers.
Adam says, "we should consider a pre-listing home inspection."
Adam explains to Jane and John it is more common now for sellers to have an inspection done before listing their home for sale, and it can be beneficial for the sellers.
Advantages of pre-listing inspection
Adam says, "here is the logic. You, the seller, will have extra control over the selling process. Here is how."
Number 1. You will have an understanding of your home before the buyer's home inspection
Number 2. Now you have options; No issue, a perfect way to minimize stress.
If there are issues, make the repairs since buyers will make a big deal of minor problems. It would be easier to fix minor issues in the house rather than deal with complicated negotiation demands.
Number 3. You have a home inspection to present to buyers; hence, boosting their confidence and reducing the fear factor from buying process. There is NOT a better way to increase buyers' interest in your house and start competing to buy your home.
Number 4. Minimize the possibility of legal matters in the future. That is the peace of mind for today and tomorrow.
Number 5. Pre-inspection may prevent a surprise. In the worst scenario, the buyers' inspection may reveal a major issue, and that might come as a surprise to you. The buyer may request a significant price drop or walk away from the deal. Then, you may have to terminate the listing and fix the issue in a timely fashion. Houses that are not sold may carry a stigma that affects the future price of the house.
Disadvantages of pre-listing inspection
Jane says, "we see the benefit and the wisdom of the pre-listing inspection. However, we are concerned with the cost and the possible downsides of inspection."
Adam points out the inspection costs only a few hundred dollars, and the benefits outweigh the cost many folds. If we call it a downside, the only downside is if the inspection identifies a significant issue that needs to be disclosed to the potential buyers. Adams adds that most likely, the buyer's inspection will reveal such an issue. And being upfront at the beginning and avoiding any legal issue in future is the best scenario for everyone.
The bottom line is pre-listing inspection is peace of mind for buyers, sellers and agents. It increases the buyers' confidence in the house. Higher demand for the home is good for the buyer to sell the house to the highest possible price. Surprisingly, such small costs benefit the buyer so much, yet some people do not consider the pre-listing inspection.
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Why do need a pre-sale home inspection?
The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: email@example.com or by phone: 416.990.2424