One way REALTORS® can ensure that they and their clients know the true condition and value of the home they’re putting on the market is by getting a guaranteed pre-inspection by a professional inspection company and a pre-appraisal.
Everyone knows pricing and condition will play a Major Role in home sales. But not everyone agrees on what is smart or how to go about leveraging these elements.
So what does everyone think about getting homes pre-appraised or pre-inspected? Please share your experiences, ideas, opinions.
Below are my thoughts:
So why Pre-Inspection...
A guaranteed pre-inspection is an effective selling tool, reassuring buyers that what they see is what they get. It also eliminates the buyer-beware attitude and can speed up negotiations between buyer and seller.
With a home pre-inspection, sellers have the opportunity to address any defects an inspector might find and have them repaired before a possible buyer even sees the house. That gives the seller and sales associate peace of mind that the property they’re listing has no surprises awaiting them in the contract or in the appraisal.
It also eliminates last-minute price negotiating and the possibility that buyers might develop cold feet regarding a sale once their buyer inspection uncovers a needed repair, often bringing into question the whole purchase
In today's buyer's market, condition has become as important as the long-lauded “location, location, location.” Buyer's are aware that sellers are more flexible and willing to negotiate. Sellers STILLwant the most money out of their equity. Pre-Inspections are a way to attempt to satisfy both sides of the transaction.
Buyers will feel more secure about the property they are looking at and sellers will be able to alleviate those unexpected last minute, deal-killing problems by eliminating surprises before they happen.
So why Pre-Appraisal...
Everyone knows pricing will now play a Major role in home sales. But not everyone agrees on what is smart.
A pre-appraised home helps the sellers to be competitive while still securing more of the equity they have built.
It allows a potential buyer to see value compared to other properties on the market.
It almost guarantees value for the second appraisal that the buyers are inevitably going to get which almost eliminates the need to renegotiate a price reduction.
A pre-appraisal may not be the final listing price, but will give the seller and their Realtor more confidence in the negotiating process.
Sellers should verify that the inspection company uses inspectors who carry the proper insurance, including professional liability (errors and omissions), workers’ compensation, and general liability, and are certified by a recognized training and certification program.
* Produced using excerpts from National Association of Realtors website