SELLERS ASK: Should I have a home inspection done before the marketing of my home begins?
Preemptive home inspections are hotly debated in the real estate world. While it is always the seller’s decision to have a home inspection or not, I usually advise in favor of an inspection.
WHAT’S AN INSPECTION?
A licensed professional will check the functionality of your home from top to bottom. The roof; HVAC, plumbing, and electrical systems; appliances; and bugs are typically included. Radon is not. Costs range from $500 to $900 depending on the size of the home and scope of the inspection. (Existing service contracts for HVAC and pests can save you money.)
WHY HAVE ONE?
A preemptive inspection offers a seller two advantages.
1. You can better prepare your home for marketing if you know what needs repair. An inspector can even estimate the cost of these repairs for you.
2. You avoid a potentially disappointing second round of negotiations when a prospective buyer conducts an inspection that prompts requests for a price reduction and/or repairs.
WHY CHOOSE NOT TO INSPECT?
Once you know what’s wrong with your home, you can’t unknow it. Sellers and agents are legally obligated to disclose all known material defects in your home to any buyer. Expensive, perhaps unaffordable, repairs can impact the marketability of your home and reduce the profits you anticipate. Of course, you could also choose not to inspect because you are confident that an inspection of your well-maintained home is unnecessary.
TRANSPARENCY IS GOOD BUSINESS
Sharing an inspection report card and proof that reasonable repairs have been made with a buyer can go a long way in building trust and receiving a competitive purchase offer.
By the way, the same is true of giving a buyer a home warranty. Besides easing a buyer’s jitters and limiting post-settlement headaches, a home warranty demonstrates respect and assures your home’s new owner that you want them to love the home as much as you have.
REMEMBER YOU CALL THE SHOTS
You can approach the selling – and buying – process confidently, armed with up-to-the-minute data and a great team of agents in the Adam J. Baldwin team.
