A home inspection is more often than not conducted in favor of the buyer’s interests, however, a pre-listing inspection ends up benefiting the seller of the property as well.
A pre-listing inspection works as follow; the process is conducted before the home is listed in the market allowing prospective buyers to view the condition of the house prior to any negotiations on the asking price. A report is then prepared and reviewed by the seller and real estate agents.
On approval by both parties, the report and an overview are published in order to be available to real estate professionals and potential buyers.
Most sellers selling their previous homes are at a disadvantage because of the attachment they have developed with their homes. In such cases, the sellers tend to overlook flaws, wear and tear in different areas of the house which has over time transformed to feel like home.
However, buyers do not share in the seller’s sentimentality. They are looking to make a worthy investment and as such would expect the house to be at its best.
A pre-listing home inspection helps the sellers to see their home through the eyes of a third party who is critical enough to point out the flaws that are in the house. The inspector handling the process prepares a comprehensive report highlighting the different issues identified in the home and the recommendations on the best way to handle these issues.
The recommendations made are split into two different categories as seen below:
1. Defective items worth fixing by the seller before listing
These items include the critical systems within the house whose overall condition would interfere with how the pricing of the property is made.
Items that pose a threat to the safety of the house inhabitants
Inexpensive and easy to fix items
Plumbing issues like leaks
2. Defective items best left to be fixed by the buyer
These are items which would rather be fixed to the preference of the buyer. They include the following items:
Cosmetic items which excite specific tastes within the buyer
Pre-listing home inspection has numerous advantages to the seller. These advantages are as follows –
1. Puts the seller at a perfect position to substantiate their asking price. The inspection process sheds light on the defects identified in the house giving the seller the opportunity to fix the issues.
2. Saves the seller money in the long run. Pre-listing home inspection identifies the areas of the house which require attention. These findings are better discovered at this point because they give the seller the opportunity to make the necessary repairs. If the issues surface on the buyer’s inspection report, the seller is put at a disadvantage and could be arm-twisted into reducing the asking price based on the defects identified, therefore losing money.
The inspection report can be used by the seller as a marketing tool for their property. A positive pre-listing report simply means that the house is in a good condition making it worth its price.
The inspection provides buyers with a third-party perspective on the property which is not biased. This kind of a perspective instills trust in the buyers which make it easy and faster for them to make a decision on whether to buy the house or not.