“One commonly overlooked, but cost-effective way to get the best price for your seller — or calm your buyer’s fears in a multiple-bid scenario is a pre-listing home inspection.”
A pre-listing inspection is often arranged and paid for by sellers prior to listing their home. Listing agents also may choose to pay for the inspection on behalf of their clients as part of their listing services. Ultimately, the seller will be the inspector’s client and will receive the final report.
One of the biggest advantages a pre-listing inspection delivers sellers and listings agents is the ability for them to pinpoint key issues or major repairs before the house goes on the market. It’s important that listing agents be the most knowledgeable person in the deal. Leaving the inspection up to a buyer’s inspector can decrease the seller’s asking price, or worse, kill a deal entirely.
Most buyers don’t actually know how much things cost to construct or repair. For every perceived defect, many buyers will triple or quintuple the actual cost of the repair and lower their asking price accordingly.
It’s simple; by knowing the potential issues or repairs ahead of time, sellers can choose to fix them themselves or leave them to the buyer to address. If sellers choose the latter, they can secure three quotes from reputable contractors for the repairs so that buyers will know the cost to fix the issue. This allows the potential new owners to budget for the repairs. All of this fosters openness and transparency within the transaction, a positivity that can help push sale prices higher.