Here’s why a pre-listing inspection is beneficial to sellers.
In a Texas real estate deal, there’s an option period where the buyer gets an inspection report. During that period, the buyer negotiates the price, terms, and so on; then, a week or so later, they’re back at the negotiation table to go over repairs. Many times, doing things this way can cost more money than you originally planned when you agreed to the buyer’s offer.
So what can be done about it? You’ve heard of a certified pre-owned car, right? A car with that label has been examined inside and out, top to bottom, to find any repairs that need to be made to get the vehicle in top condition. Dealers often provide decent warranties with these sorts of cars.
Why couldn’t that be done to a house? Well, it can, and that’s essentially the purpose of getting a pre-listing inspection. Once you get the results back from your inspection, you and your agent could go through the house to make any necessary repairs. Once you go on the market, you can furnish the report to the buyer.
With the way that prices are in today’s market, buyers don’t want to purchase a house and immediately have to start working on it. Around one in four listings end up coming back on the market because buyers receive the inspection report and can’t get enough help from the seller for repairs. Those buyers back out of the deal and reenter the market to find another home.
So what are the benefits of a pre-listing inspection? Well, if you get an inspection before a buyer has made an offer on a home, you’re not on a deadline to get those repairs done—you can take your time to shop around for contractors and get estimates so that you don’t spend any extra money.
If you have any questions or feedback about pre-listing inspections, feel free to reach out to me. I’d love to talk to you in more detail.