Do I Need A House Inspection? The Pros And Cons
Are you planning on selling your home? If you’re planning to sell in the near future, you’ve probably been thinking about a home inspection. But what about a pre-listing home inspection? A pre-listing home inspection is when you, the seller, hire a professional home inspector to perform a thorough examination of the state of your property before you put it on the market. Generally, once a property is listed, an interested buyer will hire another professional inspector of their own. This is the exact reason why some sellers opt-out of having their own home pre-inspection.
If you’re on the fence about having a home inspection before listing your property, we’ve listed some pros and cons of this process to help you make a more informed decision!
Pros of a Pre-Listing Home Inspection
Identifies the Condition of your Home
One of the main advantages of having a pre-listing home inspection is that it reveals the current condition of your home. There are a number of aspects in your home that can be deceiving and it is better to find out the actual condition of your home rather than getting surprised afterward once the buyer has conducted their own inspection.
Cheaper or DIY Repairs
A pre-listing inspection gives you the option to perform the repairs needed yourself. If the inspection report shows that there are minor issues that you know you can easily repair, then that will save you money down the road. If the inspection uncovers major issues, you will have the freedom to hire a general contractor that you trust and can afford on your own budget.
More Accurate Pricing
Having a pre-listing home inspection allows you to get a better idea on the worth of the property. If you are blindly pricing your home, you may have a difficult time selling your home. An overpriced home may lead you to have fewer offers, whereas an underpriced home may cause you to lose money, and no one wants that!
As the inspection report will reveal the condition of your home, you will have a better idea of where your home sits in the market. This will also help you once you have hired a realtor to help you with this process.
Cons of a Pre-Listing Home Inspection
Additional Expense
An obvious disadvantage to having a pre-listing home inspection is the additional expense. A typical home inspection will cost you a minimum of $200. Whereas if you opt to just skip a pre-listing inspection and wait for the buyer to request for their own, you wouldn’t need to spend the extra money.
Going Through Two Inspections
The buyer will eventually ask for their own home inspection, so although it is recommended that you get a pre-listing home inspection, it is not required. There is also a slim possibility that the home inspection report that you get is different from the results received by the buyer. Naturally, the buyer will have to trust their inspection report over yours and you would have lost your leverage.
Full Disclosure
As a seller, you are required to disclose any findings that you are aware of regarding your property. This includes all of the renovations and changes that you have done to the property. By opting to have your home inspected, you are now committing yourself to disclose these findings to the buyer. Regardless if these are minor or major issues, you are required to share your findings, and this can be a deal-breaker for some buyers.
Are you still unsure if you want to perform a pre-listing home inspection? It’s always beneficial to talk with your local real estate agency to discuss any concerns you may have about this process.
Our real estate agents at Coldwell Banker Carroll Realty have the knowledge and experience to help you along the way. We have local realtors throughout Panama City, Panama City Beach, and 30a ready to help you on your way. Contact our locally owned, nationally recognized realty team today.