Your Question: Why Should I Order a Home Inspection?
Professor Tate Answers:
Before you put your home up on the market, you should take an inventory of what you own and take the necessary steps to eliminate any objections before they even arise.
You may want to get an inspection by a Licensed Home Inspector. It is a good idea to have the home inspection done before an appraisal, but after doing what was stated explained in the article "How to Prepare Your House for Sale".
Depending on the age and condition of the home, it is sometimes a good idea for the seller to get a Pre-Sale Home Inspection.
The reason being is, if your buyer decides to have an inspection done, it’s likely the inspector will find something that the buyer will want repaired before he will proceed with the sale.
Who knows what will be found or how the inspector will present his report. If for example, he would point out the roof has a 5 to 7 years of life before it should be replaced, it may kill the deal if not handled correctly.
In some cases, inspectors meet with the buyer and unintentionally kill the deal just by the way it’s presented. In fairness, other inspections are presented in such a way that the buyer does not become alarmed and the deal is put together.
After all, the house is not new and there are going to be issues. The problems arise when the buyer comes back after you have already agreed on a price and says, “I’ll still go through with the sale if you will allow a credit for the new roof.”
If you have an inspection in hand when the buyer looks at your home, let him know you have one and point out if your inspector found some things that needed to be addressed.
If you have done some of the repairs, let the buyer know what was done and then tell the him: “You will notice the inspector pointed out our roof has a 5 to 7 year life expectancy. We took that in to consideration when we arrived at our asking price.” This will help to eliminate any surprises that may come up if the buyer still decides to have his own inspection done.
Buyers will commonly use issues that come up from the Inspection as a way to renegotiate and get the Sellers to come down on the sales price. By ordering an inspection right away, you’re already aware of the issues Buyers may find and use to get you to lower your price. With this information, you can make necessary repairs and let the Buyers know ahead of time that your price reflects the issues uncovered by the Inspection.
In addition, testing may need to be done. Testing may be necessary if your home is located in an area that has radon problems, water or well problems, methane problems, etc. Testing these things beforehand could save you time and trouble down the road. Homes with septic systems should also have testing done ahead of time. Again, limiting the number of problems that may come up later will help you sell faster and more smoothly, and give your buyer peace of mind knowing that you’re not cutting corners.
Having a Home Inspection and appropriate tests done before putting a home on the market have saved sellers hundreds and in some cases thousands of dollars that may have been lost by having to renegotiate the sale after the inspection.
When we have these 3 things – Appraisal, Home Inspection, and testing – we are well on our way to selling our home and saving thousands of dollars!
You asked, now you know!
-Professor Reel S. Tate