In today’s buyers market, the seller needs to take advantage of every possible step to both speed the sale of their house and ensure they get the best offer they can. A pre-listing inspection by the seller helps with both of these.

 
In the past, a pre-listing inspection was more of a speed bump than a help to the seller. Buyers were coming out of the wood work and houses were selling as soon as they went on the market. But today, the buyers can, and are, more cautious because they know they have the advantage now. They are demanding more and more concessions from the seller. So why do you want to offer a potential buyer more ammunition to use against you? Why wait until the seller has a home inspection to discover areas that need attention.

 
A survey by homegain.com shows that most buyers ask for up to 200% of the actual cost to repair something. By not having a pre-listing inspection, now you are just giving the buyer free money. Worse, if the buyer is considering more than one home, they could use their inspection to back out of your listing and buy one with a more favorable inspection.

 
Imagine the feeling you’ll have when the buyer tells you they are going to have your listing inspected. You can sit back, confident in what the inspection report will say because you already took action on your pre-listing inspection. You know there won’t be any delays waiting for something to get fixed. You know there won’t be demands of price concessions to cover discrepancies the report found. You know nothing will be found that will kill the deal.  You know the buyer’s inspection, although it is still needed, is really just old news.  

 
The winners of this world come out on top because they do more than just the minimum. Are you doing just the minimum or have you had a pre-listing home inspection? 

 

John E. Coker

Family Home Inspection LLC

www.familyhomeinspection.com

john@familyhomeinspection.com

(757) 202-3282

 

 

6 Comments on Now more than ever, a Pre-Listing inspection makes a difference.

FEB
09
2008
I agree a pre-inspection would be a great idea. Problem is getting sellers to agree to it. Good post.
2:20pm • #1
Localism Sponsor
It would save a lot of hassle for many but some would still not be satisfied
2:43pm • #2
440,703 Points 10 Featured Posts Outside Blog
I don't agree.  Of course fix and repair as needed.  But you could spend thousands fixing things that the buyer may not even care about or even affect the value of the house.  Wait for the buyer to pay for their own inspection.
3:23pm • #3

So Russ, especially in a market like this, you are more willing to wait for a deal killer than to prevent one? In todays market, a buyer is more likely to back out because of the Polybutene. How about the vermiculite insulation? Is it better for you and the seller to spend six months with the house on the market then find out that the roof needs replacement? Then of course since they backed out, now you have to fix it anyways and your back to square one but with all that time wasted. Or worse, the buyer agrees to buy the house at a greatly reduced price (far more than the repairs would have cost I'm sure). 

You are correct in saying "ut you could spend thousands fixing things that the buyer may not even care about or even affect the value of the house." but that actually supports a pre-listing inspection. Find out what will be pointed out to the buyer before you just randomly fix things. Find out what does matter. 

Now please don't be insulted because I'm not suggesting you said or even think this but I have been told that a pre-listing inspection should not be done because if it is, then they are required to tell the buyer the problems if any. To me, this person is putting their financial interest before their clients best interest. A pre-listing inspection is in the sellers best interest. 


 
11:49pm • #4
FEB
10
2008
218,556 Points Outside Blog

I agree John.  Thanks for the post.

Have a great day!

1:35pm • #5
MAR
25
2008

I agree. In fact our company agrees. That is why we do a home inspection on every home we list before we put it on the market. We also have an appraisal done and highly suggest that a termite/ moisture inspection be done. All of this is paid for by our brokerage.

FYI we have done this since the day we opened over 4 years ago. So yes we did it when the market was strong.

Best,

John Womeldorf/ REALTOR

Liz Moore & Associates

Williamsburg & Newport News Virginia

www.MrWilliamsburg.com

John@MrWilliamsburg.com

 

3:55pm • #6

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John Coker - Virginia Beach Home Inspector

Virginia Beach, VA

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Family Home Inspection LLC

Address: 1581-107 General Booth Blvd, Virginia Beach, VA, 23454

Office Phone: (757) 202-3282

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