Selling your home is stressful – with lots of unknowns and “what ifs?” that can keep you up at night. As you begin to put together a timeline for selling, it’s important to conduct a pre-listing home inspection to identify potential areas of concern that might become an issue post-contract.
Buyers have a reasonable expectation that the home they are purchasing has been properly maintained. To that end, most will hire a licensed home inspector to inspect your property as a contingency of the sale. The home inspector will inspect the major components of your home including: central heating and cooling systems; plumbing and well systems; electrical; roof; walls; windows; doors; ceilings; floors; appliances and foundation.
It’s a comprehensive review of your property’s condition and it can unearth both minor issues, like non-functioning outlets, and major issues related to the roof or plumbing. The fewer issues the home inspector finds, the fewer opportunities there will be for the buyer to request repairs or credits once your home is under contract.
So, it’s in your best interest to identify and address as many of these potential inspection issues before, not after, your house goes on the market. You can walk through the property yourself and create a punch list of repairs or, hire a licensed home inspector to do a pre-listing inspection for you.
Report in hand, you can decide whether to address and repair some or all of the issues identified or simply disclose them to the buyer through the required real property disclosure report.
It’s best to address as many of the inspection issues as possible. Doing them before you list allows you to control the time and expense related to correcting each item.
For example, let’s say your pre-listing home inspection turns up a necessary and costly plumbing repair. You have two choices: repair it before you list, or disclose it and let the buyer worry about it when they take possession.
Not repairing it is going to cost you!
At best, the buyers will agree to take the project on, but they’re want to be well-paid to handle your deferred maintenance. So, what would have been $1,000 repair prior to listing your home could now cost you $3,000 in credit requests.
At worst, the buyers walk away from the deal and you’re back to square one with a house back on the market.
Can’t afford to make any repairs? Selling your home “AS-IS” could be the best option for you. Let’s connect to talk about the best plan for you.