A pre-inspection is a home inspection by a home inspector to check out a property before the home seller puts their home on the market. Oftentimes a seller will order a pre-listing home inspection to uncover any potential negative issues associated with their home before they list the home with a realtor. Let’s take a look at the pros and cons of a pre-inspection.
A Pre-Inspection Can Be A Positive For The Seller
An inspection is designed to uncover hidden and expensive problems that could affect the value of the home — having a pre-inspection means fewer surprises. A certified home inspector evaluates about 1,500 items that make up the property’s foundation, structure, electrical, plumbing, and HVAC systems. For buyers, the inspection can show if repairs are needed and could open price negotiations. For the seller, the benefits offered peace of mind identifying problems or lack thereof.
The Cost Of A Pre-Inspection Can Be A Negative For The Seller
On average, the home inspection will cost about $200 to $500. Pre-Inspections are not required so many sellers do not have them done because of the cost. Most buyers will have an inspection done because most mortgage companies require an inspection. The buyer pays for that inspection. A seller is under no obligation to fix anything that comes up during a home inspection, however, they are often willing to make certain fixes, so they don’t lose the potential buyer. Negotiating after the home inspection is important for buyers and sellers in order to come to an agreement that both parties are happy with.
A Pre-Inspection Allows The Seller Time To Fix The Problem
If the seller knows what an inspector thinks is wrong with the house, they can fix it before the buyer’s inspector shows up. This also presents a strong first impression to buyers, who may see your house in a more positive light and boost their offer. The purpose of a home inspection is to help buyers get a certification on the liability of the property before they invest money in a property. The fact that the seller had a pre-inspection will make them feel more confident about the property.
The Buyer Will Likely Also Have An Inspection
Even if you pay for a pre-inspection and address those issues, the buyer’s inspector might identify new problems that require more repairs. If you have 10 inspectors do an inspection on your home, you will more than not have 10 different reports. Real estate agents differ on opinions of whether a pre-inspection should be done because all inspectors find different problems and the buyers’ inspector may not have even had the same problems on his report as the seller’s inspector had on his report. You did the repairs on your seller’s inspection and now you will have a different set of repairs to consider that the buyer’s inspector found.
If Your Pre-Inspection Found A Problem That You Are Not Going To Repair, That Could Be Considered A Negative
Consumer protection regulations (CPRs) dictate that a seller must disclose any pertinent information they have about the property which might influence the prospective buyer’s decision. These laws do vary by state, so ask your agent for more specifics. You may want to stay blissfully ignorant of some bad history like flooding and sewage backups, but you must disclose it if you know about it. There could be some things that may not have ever become issues if you had not hired an inspector.
Is a pre-inspection right for you? Talk to your realtor about the advantages and disadvantages of a pre-listing inspection. They will know what buyer expectations are like in your market and can offer guidance.
Tom Reese has 20+ years experience in helping his clients sell their homes for a price that sells and makes them a profit. Tom has helped his clients buy and sell property in every neighborhood in Northern Kentucky and Cincinnati.
About Tom Reese
Helping my clients attain their dreams has been the foundation of my success. With my strong attention to customer service, I have earned my clients continued support and referrals. Put my enthusiasm and dedication to work for you!
Call Tom anytime at (859) 393-1293