If you’re thinking about listing your home, one
thing you might be nervous about is the home inspection. Some of my clients are
curious about pre-listing inspections.
Perhaps you’d be interested in the pros
and cons of the decision, too:
Part
of my job as a real estate agent is educating and protecting my clients. Many
of my clients get nervous about home inspections. They often ask: “Should I
have a home inspection before I put my home on the market?” Here’s my take on
the pre-listing inspection:
Knowing
what you're in for when it comes to selling a house is always better than
getting a nasty surprise down the line. In the event you find repairs that need
to be made, they can be done in a reasonable time frame.
The
pre-listing inspection is also useful in situations down the line when you
suspect the buyer's home inspection reflects wildly inflated estimates for
repairs.
Also
keep in mind that if you fail to disclose a problem found in the inspection,
you could be in big trouble down the line.
You
also need to know the difference between maintenance repairs and home upgrades.
Buyers have a reasonable expectation that the home has been properly
maintained. Making necessary maintenance repairs doesn't mean the you can up
the price on the listing. You can't cover the cost of your new roof by pumping
up the sale price. You might be able to use it as an effective marketing point
over other listings in the area, but it's not a fabulous kitchen renovation!
If
you don’t want to make the repairs, understand that not making repairs can have
a disproportionately negative impact on your sale price. For example, if you
want to dump a $1,000 plumbing repair on prospective buyers, the buyers are not
going to equate that to $1,000 off the asking price. Instead, they're going to
think about the time, inconvenience, and the cost of the repair. A $1,000
repair might translate to a $3,000 hit to the asking price. Buyers will want to
be well-paid to handle a seller's headache.
There’s
a definite benefit to the pre-listing inspection, but it’s important to
consider the pros and cons with your agent.
I’d be glad to have a
conversation with you about the specific concerns you may have about your home
if you’re preparing to list it. Please contact me today: valerie@valeriemcconville.com
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