A pre-listing inspection is a home inspection that the seller has done before listing the house for sale. For the seller, getting this information about their home can be helpful as they begin their selling process, as it gives them more time and control over repairs and prices their home more accurately before it's on the market.
When conducting the pre-listing inspection, the home inspector approaches it the same as if it were for a prospective homebuyer, assessing the home's overall condition. The pre-listing inspection will cover all the major systems and components: heating and cooling, electrical, plumbing, structure, roof, interior, and exterior. The inspector will compile all their findings into the inspection report, highlighting any issues found and offering recommendations for repairs or replacements that are needed.
On average, a home inspection in the US will range from $300-$600 and usually takes around 2-4 hours to complete the inspection. While not necessary for the seller, it can help them avoid hiccups during a transaction and make the process smoother as they sell their home. Here are some of the benefits that sellers can take advantage of by getting a pre-listing inspection.
1. Understanding the Condition of Your Home
Getting a home inspection from a professional home inspector is the best way to understand the condition of your home. For sellers opting for a pre-listing inspection, provides you with vital information to consider as you get ready to put the house on the market. If the inspector comes across major defects, it's better to know about them sooner rather than in the middle of a transaction. Having all information about the house upfront can be a key for you to prepare your listing and avoid surprises down the line throughout the selling process.
2. Get Ahead of Repairs
For any issues uncovered during the pre-listing inspection, either minor and significant, you should work with your real estate agent to determine which should be addressed through repairs before listing and which should disclose to prospective buyers. For sellers opting to complete some repair before listing, this provides ample time for you to research available contractors and find the best prices. Having control of these projects can save you a lot of time, money, and stress than finding a last-minute contractor to fix an issue found during your buyer's home inspection that holds up the transaction.
On the other hand, some issues are best left to the buyer's discretion on addressing the repairs. Some issues are not necessary to the viability of the sale, and in some cases, the new owners may want to have control over their repairs and have them completed to their specific liking. Again, work with your agent to figure out the best plan for repairs for your situation to get your home ready for the market.
3. Price Your Home Accurately
Choosing the right price to list your home is tricky for any home heading to the market. You don't want to scare away potential buyers by pricing too high, but you don't want to leave money on the table by pricing it too low, either. Working with your real estate agent and using your pre-listing inspection report can help get you as close to the sweet spot when determining your price. Additionally, you can reference the inspection report to justify the cost.
4. Better Marketing
Aside from listing the issue of the home, you can use the pre-listing inspection report to draw attention to the positive features uncovered during the inspection. For example, the inspection may reveal that your roof is in excellent condition and has many good years left on it; you can use the inspection report to promote that on the listing. Sharing the findings of the pre-listing inspection is a great way to build trust with prospective buyers.
5. Attract Serious Buyers
For most listings, prospective buyers may be skeptical about the home's condition and be cautious about getting stuck with a potential money pit. However, by sharing the findings of the pre-listing inspection, sellers can attract serious buyers who understand the condition of the home and its associated issues with its ownership. The information offered to the buyer can help cast away doubts about the house, and their interest in the home is a sign that they want the process to move forward.
6. Less Negotiations
When it comes time for the buyer to have their home inspection, you can avoid many common negotiations that often follow since many negotiations are over fixing repairs or issues found by the inspector. With your pre-listing inspection, you will already account for the condition of your home and worked with your real agent to handle the disclosures. Having the information upfront for both the buyer and seller will help both parties stay on the same page as the transaction continues. Should the buyer's inspection uncover any new issues, you will have your inspection report back up to compare and even call in the inspector who did the pre-listing inspection for another consultation on the subject.