Our View of Pre-Listing Inspections
It's a Buyer's Market
Just a few short months ago it was a seller's market -- quick turnover and multiple offers were not uncommon. In today's market, buyers have the opportunity to be choosy and are looking for homes in pristine condition. Having a property thoroughly inspected before it goes on the market may be a smart strategy.
It's a Matter of Condition
Sometimes having a home inspected by an independent professional helps both the current homeowners and prospects have a better understanding of the home's true condition. Providing a professional inspection before the house goes under contract allows both sellers and buyers to objectively consider the property without worrying about hidden issues that could ultimately kill the deal.
It's a Matter of Value
Having a property inspected before listing can help in establishing a fair, competitive price. Some homeowners may have an unrealistic view of the condition of their homes and after a pre-listing inspection will have a better perspective. Having the home inspected before the listing helps to eliminate any last minute surprises (and costly repairs) that could derail a transaction. Plus, it provides an impartial, professional assessment of the condition of the property so you keep things in perspective with your clients when recommending a listing price. Repairs and estimates to correct critical items can be considered in the pricing process to avoid having the buyer discount the asking price after the contract is written.
It's a Matter of Time and Money
By having a property inspected before the listing, the seller has time to carefully shop for the best value in repair contractors and not be forced to make rash decision in order to meet a buyers contract deadline. The savings in both money and stress can be significant. Logically, it just makes more sense to carefully manage any required work repairs -- and not be forced into making quick repair decisions with vendors that you don't know or trust.
It's a Matter of Liability and Disclosure
One critical area of litigation in the real estate arena is the failure to disclose property deficiencies. Even after living in their homes for many years, sellers often don't have full understanding of their homes to make accurate disclosures. By inspecting a property before it is listed, the inspection report can be used to create a more accurate seller's disclosure statement and help reduce the potential liability risk for sellers and their agents. In fact, based on our experience many buyers waive any additional inspections if the pre-listing inspection was performed by a reputable inspection company. Our pre-listing inspections help protect both the seller and the buyer.
It's Matter of Distinction
Professional information and disclosure creates a higher level of trust, differentiates your home from competitive listings and eliminates some of the unnecessary tension associated with the purchasing process. By prominently displaying copies of the pre-listing inspection you can relieve some of the natural concerns potential buyers have when considering a purchase. We also recommend you provide any repair receipts to create a powerful package. In fact, at LandAmerica we offer a special pre-listing bundle that includes our standard 90-day inspection guarantee, a 12 month home warranty, and a full year of our Extended Advice -- to help your buyers and sellers on any issues that may arise after the inspection.
For more information about our pre-listing inspections feel free to call us. -- We're working to be your expert
Rob Rehm LandAmerica Property Inspection Services
317-538-2969
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