Early in 2008, a friend of mine listed his home for sale.  Along with the usual tips for showing a home, his agent (another friend on mine) advised that he have a pre-listing inspection completed.  He declined the inspection.  I then offered to look over the home myself for any potential problems.  "No, the house is only 9 years old and I've kept it in immaculate condition" he said.  I wished him a quick sale, asking on my way out if he wanted me to take a quick look at the sag in the dining room floor".  "Nah, it was like that when I bought the house".  I guess he thought nobody would notice?  

About 6 months afterward, I get the call from my frantic friend.  "Can I send you this inspection report?  I can't believe what this guy is doing to me!"  Here we go.  Moments later, I received the Summary Report.  I have to say that the inspector did not pick the home apart.  All of his findings were very valid, and unfortunately, some were quite expensive.  Water in the crawl space, sagging girders from settling piers, (remember the sag in the dining room floor), sub floor damage in the showers, faulty AC unit etc.  As a General Contractor, I quickly surmised that the repairs were going to be well over the cost of repair contingency of $3000.00, even if I contracted the work myself with no fee attached.  Needless to say, the buyers freaked out and walked.  

Moral of the story?  You guessed it. If my friend had completed a pre-listing inspection, these items would have been discovered and he could have repaired them, while he still had plenty of time and money.  Did the buyers simply want out of the sale and used the repair costs as an excuse?  Perhaps, but if the items were taken care of before the listing, their "out" would have been more difficult.  Once the inspection report is complete, the seller (or more likely the weary listing agent) is consumed with getting the repairs complete before the agreed date.  Adding insult to injury, some (not all) contractors know you are under the gun and might "pad" the costs "just a tad".  Many times buyer will simply use the inspection report as a negotiating tool, demanding the seller knock thousands off the agreed price.  Why put yourself through all this stress?  A typical home inspection is about $400 to $450 for an average 3000 to 3500 square foot home, depending on its age.  That's a small price compared to what may be waiting for you once the buyer's inspection is complete....with only a few weeks to repair. 

 So now my friend, a bit more educated, has repaired the items on the original report, and will be re-listing with our agent friend.  Oh and by the way, he wants me to take look at the home to see if there are any more "surprises".  My fee will be a bottle of wine and the right to call him "stupid" every time we drive by the house he could have bought, had his sale gone through.