Traditionally, home inspectors were only hired by home buyers. While it is still true that most home inspections are performed on behalf of the buyer, changes in the real estate market have shaken things up somewhat. Now, it’s quite common for a home seller to have a home inspection done prior to putting the house on the market, or accepting offers. What has changed?
- Buyers are more likely to want to renegotiate the price of a house based on a home inspection report, and
- Bidding wars and multiple-offer scenarios can force buyers to submit only “clean” offers.
How can a Pre-Listing Home Inspection help?
Imagine that a buyer makes an offer on a home without any knowledge that the furnace is nearing the end of its life, or even that the chimney needs some repair. The buyer assumes that these things are in good condition. When the home inspection reveals that some work is needed, there is a natural disappointment with the home, which can lead to renegotiation, even if these conditions are completely normal for a house of this age and type. Now imagine the same buyer being presented with the facts about the condition of the home before making an offer. Any offer that they make is informed, and when the buyer hires their own home inspector to confirm the condition of the home, nothing changes? The buyer is satisfied that the house is as they expected and the deal closes normally.
Bidding wars sound like a great thing for a seller. The seller has their pick of any number of unconditional offers, each one trying to best the other. The problem is that many buyers have a fear of the unknown, and that’s a realistic fear! Many buyers won’t submit their best bid on a home if they are fearful that there are unknown conditions that could cost them significant money in repairs. A Pre-Listing Inspection can take away much of that fear and allow buyers to submit the best offer that they can with the best information that they have available to them.
Clarke Engineering Pre-Listing Inspections provide clarity for everybody, allowing buyers and sellers to move forward with confidence.