One of the most common ways to sink a home sale or lower the bidding price is a surprise finding in a home building inspection, and this is prompting some sellers to take the precautionary step of having an inspection before listing.
A home inspection can cost as little as $430, but real estate experts say it’s a great way to take any of the unknowns out of the home selling equation.
“The buyer has the upper hand when they have an inspection,” says Coldwell Banker consumer specialist Jessica Edwards. “If you are willing to do it ahead of time, you give the control back to the seller.”
According to real estate agents, having a home inspection prior to listing offers a host of benefits with little upfront cost. It identifies any major problems that could later scare off would-be bidders. Buying a house is an emotional and scary experience, especially for first-time buyers, and if the home inspection comes back with a major repair needed, it could scare them off, even if the seller agrees to fix it.
“If you have the items repaired or replaced ahead of time and it doesn’t come up with the buyer, it’s a non-issue,” says Edwards, noting that it also helps sellers who can’t or won’t fix items to adjust their asking price accordingly.
She adds that it’s often cheaper for sellers to make the repairs or replacements on their own ahead of listing than at the negotiation table. At closing, buyer may want to have their own licensed contractor do the necessary work which may be more costly to the seller.