BOLDER – When you are ready to sell your home and are looking for ways to help the sale process go smoothly and quickly, consider a pre-listing home inspection. Pre-listing inspections benefit all parties involved, and they are gaining in popularity. These type of inspections, paid for by the seller or listing agent, are written reports detailing the condition of the property. It may uncover concerns that could derail a sale later at closing. Any major repairs can be addressed beforehand. Doing repairs ahead of time might also be more cost-effective than having to pay a buyer’s contractor do the work. The cost for pre-listing inspections is about the same as a buyer’s inspection, usually between $300 and $600 but could save you time and money in the long run.
Pre-listing inspections can also alert sellers to possible safety issues that should be corrected prior to letting agents and visitors tour your home. They can also inform you about issues such as high radon gas levels and termite infestations. If you have the items on the report repaired or replaced ahead of time and they don’t come up during the buyer’s inspection they’re a non-issue. Having a home inspection beforehand can also help sellers adjust their asking price if they aren’t willing to do certain repairs.
By moving the inspection to the beginning of the sales cycle, sellers are able to shorten the process by removing obstacles before they can interfere with a potential sale. Defects won’t become negotiating stumbling blocks later and it may relieve prospective buyers concerns and suspicions. Sellers can choose who they want to perform the inspection and assist in providing details of equipment maintenance, supply dates of improvements and explanations for current conditions.
Sellers gain more time to make repairs and compare bids on work to be done and can provide full disclosure to their potential buyers. Agents will have fewer issues to negotiate at the 11th hour. Some buyers may even waive their inspection. Buyers’ benefits include receiving a third-party review of the home’s condition before making an offer which can assist in procuring financing. This type of inspection can remove doubts the buyer might have regarding any initial concerns and may also reduce the stress associated with purchasing a home.