Buyers frequently purchase homes on condition of satisfactory home inspections. Sometimes Sellers will provide Buyers with a professional home inspection report. There are a couple of reasons why this makes sense:
- A pre-sales inspection eliminates surprises. It is very frustrating when problems are uncovered after a price is agreed. This often results in price renegotiation, delays with closing, or the buyer developing cold feet. If you as the seller know the problems before listing, you may decide to make the necessary repairs before selling the house, or you may decide to reveal the problem to potential buyers and set your asking price accordingly.
- A pre-sale inspection creates confidence in buyers. An available pre-sales inspection report will encourage buyers to put in offers without an inspection condition. Even if the pre-sale inspection points out deficiencies in the condition of the house, the buyer will feel confident that the seller is not hiding other unseen problems. The pre-sales inspection is especially important when the seller is trying for a multiple-offer situation. Buyers may not have enough time to schedule a home inspection, or they may be unwilling to pay for a inspection before putting in an offer. In such cases, buyers are likely to give offers with a condition of satisfactory inspection, or they may prefer to wait and only put in an offer if there aren’t any others competing. With a pre-sales inspection, the seller is more likely to increase the total number of offers – leading to a higher sale price. Caveat: it is important to hire a well-known inspector with a good reputation so that Buyers will be confident in the validity of your inspection report.