There's a common type of home inspection that’s paid for by the buyer to ensure that his property purchase is advantageous to him. This home inspection typically occurs post-listing or after the seller accepts the price offer of the buyer. Potential issues found after this inspection gives the buyer an opportunity to renegotiate terms or withdraw from the sale. 

The process and consequence of this post-listing home inspection might cause some stress on the seller because it can derail the home sale. If the seller wants to ensure that the house doesn't have any problems before offering it for sale and avoid this kind of stress associated with the buyer's home inspection, it will be wise for the seller to do a pre-listing home inspection. 

This blog article answers common questions about a pre-listing home inspection and its advantages and disadvantages. 

Pre-Listing Home Inspection: Defined

As its name suggests, a pre-listing home inspection is a house inspection undertaken before the seller lists the property on the market. The seller hires a home inspector to determine potential property issues before prospective buyers make offers or sign any agreements for the home sale. 

Should all sellers do a pre-listing home inspection? Well, the decision solely depends on the seller. A pre-listing home inspection can help sellers make a successful sale. But there are pros and cons you need to look at before deciding to hire a professional home inspector for this one. 

Advantages

Forms Trust with Prospective Buyers

If you want to form trust with potential buyers and attract them, do a pre-listing inspection on your property. Showing a pre-listing inspection report to buyers will help them know if there are any problems with the property or what repairs need to be done on it. 

Most buyers will have these doubts about the condition of the property they want to buy. Doing a pre-listing home inspection will help eliminate those suspicions. 

Helps You Address Property Issues in Early

Sometimes there are property issues hidden in plain sight. The best way to detect and address these problems is to hire a professional house inspector who will assess the property’s physical structure, from the floors to the roof. 

If there’s indeed something wrong with the property, you can make it right before you decide to sell it. You’ll have the time to make repairs and a chance to have a facelift of the property to draw in interested buyers. This way, you can steer clear of late-minute repairs or troubles with potential buyers later in the home sale. 

Gives You an Idea When It Comes to Pricing

One factor homes sit on the market longer is inaccurate pricing. Buyers won’t purchase a property that's priced above its market value. Thus, a pre-listing home inspection is an advantage because it gives you an idea of pricing your home according to its market value. 

As much as you want to avoid overpricing, you also don’t have to underprice. A combination of a pre-listing home inspection and hiring an experienced real estate agent is the key to set a more accurate listing price. 

Disadvantages

Additional Expense

Unlike the typical home inspection, a pre-listing property inspection is an expense shouldered by the seller. It can cost you from around $200 to $400, excluding the cost of repairs you may decide to make once the inspection is done. Some inspectors will also charge for water testing and radon testing. 

Some Buyers May Still Want Their Own Home Inspection

A pre-listing inspection is no guarantee you can avoid going through a home inspection on the end of the buyer. While it may not happen at all times, the pre-listing inspection report may be different from the buyer’s inspection report. And, most of the time, buyers will favor their own inspection reports than your own. 

You May Have to Make Expensive Repairs

Another thing that may not please home sellers about a pre-listing inspection is the reality of having to make expensive repairs. It’s possible you have to pay for additional expenses to address the property issues that have just come to light after a pre-listing inspection. 

You may need to shell out money for defective electrical wiring, new wall paint, roof replacement, window repair, and more. While some home sellers are happy to find out these problems and willing to pay to fix them, others may not have the money to cover such expenses. 

Takeaway

Sellers can benefit from a pre-listing home inspection. It helps them detect and fix property issues early, builds trust with prospective buyers, and gives them a more accurate pricing. However, there are also downsides to a pre-listing home inspection, such as its cost. Before you decide to have a pre-listing inspection, make sure to weigh the pros and cons of it.