Should You Advise Your Sellers to Have Their Home Pre-Inspected?

October 21, 2021
8:00 am

Red-hot market conditions nationwide have meant listings can sell in a couple of days, sometimes even within hours. A pre-inspection by the seller can speed things up and result in a successful sale at a great price.

Time and money

It’s normal for the buyer to hire an inspector within the first 10 days after the contract is signed in order to make decisions on what repairs may be needed and who will pay for them. Pre-inspecting the home before listing means the process of closing the sale can move faster. (Keep in mind, however, that some buyers will still want to have their own inspection.) Additionally, a pre-inspection sale will inform the seller about any significant repair needs. The seller can either fix the issues before listing or, with your guidance, adjust the price before going on the market. 

Price with confidence

Knowing ahead of time the condition of the property helps you price with precision. Combined with a good comps analysis and cost estimates on needed repairs, a pre-inspection can increase your confidence as you determine how much the property is worth. 

Transparency means credibility

From a psychological standpoint, having the property pre-inspected and making the report available to buyers lends a sense of transparency. This can build trust that will benefit the seller and you through the rest of the transaction. The goodwill a pre-inspection engenders may leverage a better price and terms.

If the pre-inspection uncovers repair needs and your seller has them repaired, be sure to provide the buyer documentation and warranty papers from the repair service.