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How Do Pre-Inspections Benefit Buyers & Sellers?
Manage episode 165600866 series 1085896
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Pre-inspections benefit both home buyers and sellers in a number of ways. I will go over a few of them today.
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A pre-inspection is when a seller orders a home inspection before putting their home on the market. Whether you are buying or selling a home, a pre-inspection can benefit you in many different ways.
As a seller, the pre-inspection helps you understand which trouble spots exist in your home. Some of these problems might be surprises, while others may be pre-existing issues that you forgot about.
Either way, the pre-inspection gives you the opportunity to fix those issues so that your home is in even better condition before it hits the market.
The pre-inspection also helps you hold the contract together. Since there will be fewer issues with your home, there will be fewer things for you and the buyer to negotiate.
Finally, if the buyer decides to accept the results of your pre-inspection, you could be looking at a much shorter escrow period. The buyer won’t need to wait a week and a half to schedule the inspection and get the results back; you will have taken care of that already.
If you are buying a home that has undergone a pre-inspection, that demonstrates that the seller cares about their home. This means that they were willing to make sure the property was in good, marketable condition before they listed it on the market.
The pre-inspection can shorten the escrow period.
If the seller has made any repairs as a result of the pre-inspection, you have the opportunity to verify those repairs firsthand. Examine receipts or invoices to make sure that the repairs were made by qualified professionals.
Another benefit to the repairs being done is that the home will be more livable. You will have fewer things to worry about because there won’t be as many problems lurking in the background after you close.
Finally, if you accept the results of the pre-inspection, you could save about $500 in out-of-pocket expenses. If you trust the results of the home inspection and the subsequent repairs, you don’t have to spend that money on your own home inspection.
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