PRE-LISTING INSPECTIONS

If you are selling a home you'll get the highest price in the shortest time if your home is in top condition. You'll also want to find out about any hidden problems before your house goes on the market. Almost all sales contracts are contingent upon completion of a satisfactory inspection. (This is known as the inspection contingency.) Buyers will insist on a professional home inspection performed by an inspector they hire. If the buyers inspector finds a problem it can cause the buyer to get cold feet and the deal could fall through. At best, surprise problems uncovered by the buyer's inspector cause delays in closing and you have to pay for repairs at the last minute or take a lower price on your home.

Its better to pay for your own inspection before putting your home on the market. Having a pre-listing inspection will make the selling process easier. Find out about problems with the home and get them corrected in advance on your own terms. (Or present the items as is and reflect it in the purchase price.) If you don't, you can almost count on the buyer's inspector finding them at the worst possible time, causing delays and costing you more money.

One of the key benefits of having the inspection done early is that if there are any problems discovered, you can have the repairs done on your own terms and schedule. When a problem isn't found until the buyer has an inspection performed, the deal you've worked so hard to get done may fall apart unless you act quickly to get the repairs done. You could even have to take a lower price in order to keep the deal moving. In either case, you'll almost certainly have more headache and spend more money than if you'd known about the problem before negotiations began. You could save thousands by simply being able to shop around and get competitive bids from contractors rather than being forced into paying for a rush job at the last minute. Another area you can save money in is having the flexibility to choose what materials will be used in the repairs. Sales contracts usually specify repairs must be made using materials of comparable quality. By identifying needed repairs early you'll have the option to save money by using less expensive materials for the repairs.

Another option is simply offering certain items as is. Often, you can negotiate with a buyer to accept items in the current condition by reflecting them in the purchase price. That same buyer may walk away from the deal if the conditions come as a surprise after an offer has already been made. If the home is inspected before the house goes on the market you will be aware of the condition of the house before an offer is made. There wont be any surprises and the deal is far less likely to fall apart. It takes a lot of effort to get a sales agreement signed in the first place - if the inspection turns up problems, the buyer may want to negotiate a new deal.

Having a pre-listing inspection identifies problems early. Then you have the option of either correcting them or presenting them as is, assuring that the first offer you accept will move quickly and smoothly to closing.