Are you considering a home inspection as a seller because your trusted agent suggested it? Or perhaps because you have heard about them on your own being a great idea? Let us break down some facts on a seller’s inspection.
- They allow you to avoid surprises during the buyers inspection. How does this help? It provides you time to get pricing and for it to get taken care of. Having a heads up, you can control pricing and timing to alleviate some of the pressure. Buyers perform inspections within 10 days of being out of attorney review. The inspection is a huge step towards moving forward and scheduling the closing. As you know, most contracts have a stipulation for negotiation to begin on findings of the home inspection. So why not get a jump start? Especially if the home is older and has been in your possession for some time.
- Unfortunately, you may spend $500 and not be in the clear though when the buyer does the inspection. How is that possible? The inspection is for 1 day. After the inspector leaves, anything can happen that will alter the findings. The inspection provides feedback for what was observed during his/her visit to the home. Additionally, each inspector and inspection will be different. However, the more common items, you will more than likely now be in control. But, you have a report to compare with- not all will match item for item – but you will have an idea and a record of what you have already taken care of. Say you had some repairs done as a result of the seller’s inspection and the buyer’s inspector says that it wasn’t done properly? You can go back to the contractor and have it addressed. While inspection reports will rarely match item for item, major differences are rare amongst qualified and experienced inspectors. Your home inspector can even become your advocate by looking over and dissecting the buyer’s inspector’s report.
- When listing your home, you are looking to relocate and money may not be as free to spend. But, spending $500 may save you in the long run again, because of our points in # 1. Yes, can put cash towards another item, but hopefully, this will alleviate anything that is a deal breaker to the current buyer. Honestly, who wants to start back over again?!
- Finally, once the buyer hires his own home inspector, you’ll have a good baseline by which to compare the new report.
- There is nothing set in stone telling the Seller to have an inspection, but industry experts are leaning towards suggesting you do so that nothing holds up the deal and pushes you back to the starting line, or negotiations.