Over and over again I read in bulletin board posts or hear “Why should I have my home preinspected? After all it is the buyer’s responsibility to find any problems with it!”. Well we are in a buyer’s market and that’s what they’re doing, and that’s what winds up costing you more money or the sale when you could have been prepared![tab: Do you want to sell your house]
Last week I inspected a home that had anywhere from $10,000 to well over $20,000 in serious problems. These were not “Recommended Upgrades” or “Nice to have corrections”, these were problems that needed to be repaired to make the home safe and habitable. These problems could easily kill their deal and they could not only be back on square one looking for a new buyer but, with the disclosure laws, they now have to provide my inspection report to the next buyer. Oh, but I didn’t mention here that the dollar amount above did not even include all of the other required repairs I found that could add up significantly!
Sellers are constantly being counseled against having their homes preinspected before putting them on the market. Some of the comments the sellers themselves have said are; “If you have it preinspected now you’re going to have to correct the problems to be able to sell it.” AND “Let the buyer pay for any inspections and find anything wrong with the home. Why should you pay for their due dilligence?” AND “Don’t worry about what’s wrong as the buyer’s Home Inspector probably won’t find it anyway!” AND “There is no real value to a prelisting home inspection so why spend money to have one?” If you are hearing those comments they are dead wrong!
I have good investor clients whose homes I have inspected. These investors try to rehab their homes properly but know that things can happen incorrectly and things can get missed. They want to sell their homes and they want to do it with as quickly as possible, with as little friction and haggling as possible. So what do they do? When they are done rehabbing the home they call me to run a full inspection on it. They want a complete and thorough home inspection, and home inspection report, to find out what the buyer’s Home Inspector would be finding. I had one investor client make a comment to me that I really like and still use today. After receiving my report on the first home I inspected for him he called me up and said “You are the kind of Home Inspector I don’t want the buyers of my home to hire!”. He meant that in the most flattering terms because he just had an eye opening experience that saved him thousands of dollars in potential lost profits on the sale of the home.
So what do these investors do after they receive my report? They now have time to go out and get the most competitive bids to perform the repairs they know full well any buyer is going to demand after their Home Inspector finds that problem. On the other issues noted that are not being repaired they either prepare to have the buyer ask for concessions and already know the possible costs of the concessions or what they are willing to concede to.
When they have completed their repairs and prepared for the sale they attach the repair receipts to the home inspection report and hand it out like candy. Investors know that real estate buying and selling has become an adversarial process. Nobody trusts anybody else anymore. They also know that the best way ever to gain more trust and goodwill with potential buyers is full disclosure! If you are completely open and honest, have a thorough prelisting home inspection report to hand to a potential buyer, correct or offer concessions on the big items without being asked, then your potential for buyers has just increased significantly. Not only that but you have reduced the potential for your hard worked sale to die on the vine when your buyer hires a good Home Inspector. Sometimes buyers don’t even have their own home inspection when they are greeted with so much disclosure and information.
Those investors who take advantage of the value in a prelisting home inspection can sell their homes easier and faster. So why shouldn’t you benefit from the same techniques the investors use?
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PS Inspection & Property Services LLC is a full service home inspection and light commercial inspection company servicing the entire Dallas/Fort Worth metroplex. We strive to for the satisfaction of our customers in everything we do. Our services offerings include:
Buyer home inspections
New Home Warranty Inspections
New Home Draw Inspections
Home Maintenance Inspections
Home Remodeling Inspections
Rental And Renter Inspections
Infrared Thermal Imaging Inspections
Energy Audit Inspections
Whole Inspections Or Inspections Customized To Your Needs
If you have an inspection need we can customize an inspection for it. Please visit our main site at PS Inspection & Property Service LLC.