Thursday, May 2, 2019 / by Lindsey Gudger
Sellers often ask us whether it’s worthwhile to order a pre-listing inspection before putting a home on the market, so we’d like to share our thoughts on this common query today.
One of the major drawbacks to a pre-listing inspection is that once you’ve gotten the results, you are legally required to disclose the findings to the buyer. Also, if you choose to repair these items, doing so can hold a hefty price tag. And to top it all off, the buyer may go on to order an inspection of their own later on in the deal. Some buyers simply aren’t comfortable trusting the results of an inspection ordered by the seller.
Of course, pre-listing inspections aren’t without certain advantages, too. First, ordering a pre-listing inspection can lower the barrier of entry for buyers to submit an offer. In other words, buyers who trust your inspection report enough to forgo ordering one of their own may be glad to have one less bill to tackle as they move forward with the purchase process.
Next, while repairing issues found by your inspection could be expensive, it can also help you to win the favor of buyers. Many buyers will feel at ease when they see that you’ve taken it upon yourself to uncover and address problems they would’ve otherwise encountered for themselves.
Finally, in addition to giving you a clearer picture of your property’s condition, a pre-listing inspection can also give you a better understanding of your listing’s fair market value. This knowledge will help you develop a fair, but competitive, pricing strategy before you ever list.
Ultimately, there is no one-size-fits-all answer as to whether a pre-listing inspection is worthwhile or not. It all depends on your personal circumstances.
If you’d like any help deciding what’s best for you, if you have any other questions, or if you would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.