It’s often the buyer who asks for an inspection before closing on a new home — but it’s actually wise to complete a pre-listing inspection if you’re planning to sell your house. Below are four reasons why you should have that inspection carried out before your house hits the market.
1. You can find and fix large issues
There may be issues with your home you don’t even know about lurking just under the surface. If these problems are significant enough, it’s likely the house will be difficult to sell until they’re fixed anyway, and knowing about them ahead of time allows ample time to make any necessary repairs. Otherwise, buyers may try to excessively undercut your asking price. If you find and fix the issues first, it makes them more confident in the purchase, since they can see you took care of the house.
2. You have more power
Buyers may make a conditional offer that only stands if the home passes inspection, giving them much of the upper hand. If you’ve already completed an inspection and the home passed, you secure more control. This can help you complete the sale under your desired terms.
3. Buyers are less likely to assume other repairs are needed
Some experts note that making repairs upfront can simply cost less. Part of the reason is that buyers may assume there are other issues and try to save extra money just in case. For instance, it may only cost you $10,000 to put on a new roof, but a buyer may have asked for a $20,000 reduction on the asking price.
4. The sale happens more quickly
You probably want to sell your house in a timely fashion. This is doubly true if you’ve already bought another home and you’d rather not have two mortgages. Waiting to complete the inspection and make repairs can drag out the process, especially if you and the prospective buyer keep going back and forth with offers and counters. Handling repairs before you buy a new house means you can sell your old one as quickly as possible, keeping your own budget in order.
The last thing you want when selling your home is an unexpected surprise that costs you a lot of money or perhaps causes a buyer to withdraw an offer. You want everything to go smoothly and quickly, and the key lies in gathering information in advance. A pre-sale inspection allows you to really know what you’re dealing with, to take the proper steps before listing your home, and to potentially make more on the sale.
