A pre-market home inspection, also called a pre-listing inspection, takes place before a home is put on the market. It’s an affordable, low-stress strategy for eliminating surprise and preparing for a smooth sale. At one time, it was commonplace for realtors to ensure that sellers had the benefit of a pre-market inspection. They would advise their clients trying to sell a home, recommend inspectors, and stick with them through the process. Things have changed, with many agents backing off from getting involved in pre-market inspections, so it’s up to you, the seller, to decide if you want to get one.
Inspect Your Real Estate can answer any questions you have about the benefits of a pre-market home inspection. Call (914)-474-7695 any time to discuss options.
Benefits of a Pre-Market Home Inspection
Having an inspection done before you list your home boils down to two basic things—to get a more beneficial price and have a smooth sale by eliminating surprises. A pre-market inspection:
- Discovers any issues ahead of time, giving you the chance to address them before listing. This process avoids hiccups down the road.
- Helps you set your selling price. Once you decide what you will repair and what is going to stay “as-is” you’ll be more informed about pricing and avoid having to negotiate around very low-ball offers you didn’t see coming.
- Forges trust with potential buyers. Reporting what you’ve discovered is not just required, it is honorable.
- Reduces the chance of delays or endless negotiations. Once you are engaged in conversations with buyers, both parties’ attorneys get involved, which can become costly as well as slow things down.
- Can speed up the process of selling. With any significant issues already addressed, you can get to closing more quickly.
Should the seller be present at home inspection?
Yes. Unlike a pre-purchase inspection for a buyer, the seller should be in the home when we are inspecting it pre-market. You will get a comprehensive written report, but being there with us in real time benefits you even more. You can provide us with key information about the home’s history and the inspector can answer any questions you have on the spot.
For example, let’s say we notice missing mortar in your foundation or evidence of water damage in your attic. Because our inspector was a contractor for many years, we can chat with you about options for remediation, what it would mean to leave it alone, and arm you with facts before you hire a contractor to do the work. The best decisions are informed decisions.
Also, rest assured that once you receive the written report, we are available to answer any questions. Give us a call any time.
A Cautionary Tale
Inspect Your Real Estate’s owner and inspector Chip Barrett has been doing this for many years. One particular cautionary tale exemplifies the way a pre-market inspection could have helped everyone involved.
Chip was hired to conduct a pre-purchase inspection. In the attic, he found a small amount of vermiculite insulation with possible asbestos. Had she been aware of it, the seller could have had the substance professionally removed prior to listing the home. Because of the timing, the buyers’ attorney insisted on a complex, costly remediation after numerous back-and-forth communications.
No one debated the fact that the small pile of insulation needed to be taken out safely, but the sequence of events greatly influenced the way that played out, the time it took to get to sale, and the expenses involved.Considering the low cost of pre-market inspections and the potential benefits, we recommend them. In fact, we offer a discount for sellers getting their home inspected prior to listing.
Call Inspect Your Real Estate Today for a Quote on a Pre-Market Inspection
If something is going to show up in the buyer’s inspection, it’s worth knowing about ahead of time, and possibly fixing it. If your buyer chooses an “information only” inspection, it could still kill the sale if they find something they consider a deal-breaker. If the agreement is that you as the seller will be asked to mitigate concerns unearthed in the inspection, you can avoid delays and negotiations by taking care of them ahead.
Inspect Your Real Estate can help you navigate the discovery process before you are ready to put your home on the market. Email us at inspectyourrealestate@gmail.com or call (914)-474-7695 to get started.