Dec 22, 2017 | Source Homegauge
When you’re beginning to prepare your home for sale, one of the best things that you can do to set yourself up for success is to have a Pre-Listing Consultation performed by a professional home inspector. While getting a Seller’s Inspection might not seem like a big deal when you first think about it, it’s one of those crucial steps that will become more clear in hindsight as the real estate transaction progresses.
Let’s say, for example, that you own a stunning single family home built in 1980, that, over the past several years of ownership, you have updated from floor to ceiling. You’ve added a fresh coat of paint to both the interior and the exterior, you’ve upgraded the floors, kitchen counter tops and cabinets, new appliances, light fixtures—and you’ve also renovated the bathrooms. There is little doubt that in your mind, at first glance, your home will wow any potential buyer. Once your home is staged and you have a professional photographer and videographer come in, you believe that your home is going to shine and attract the attention it deserves. In fact, you want the first impression of your home to be so fantastic that it attracts the highest and best offers possible.
Imagine that you get a great offer from a first-time home-buyer. It’s at or even above the listing price, and you and your agent subsequently open escrow. One of the first things that a buyer will typically do is have a general home inspection completed. Keep in mind that—as far as this buyer is concerned—your home is impeccable. The pictures and videos were amazing, and your house is just as beautiful in person.
The truth is that this buyer isn’t anticipating that anything major will come to light and deter them from buying your home. As far as he’s concerned, the home inspector might find a few burned-out light bulbs, but this house should be nearly flawless. Now, fast-forward several days into escrow. The phone rings, and it’s news from the buyer’s agent. The home inspection report is in, and the buyer isn’t happy. His agent sends over the buyer’s inspection report to you. It’s filled with information about your home’s defects. High water pressure, missing smoke detectors, an improperly braced water heater, cracked roof tiles, evidence of possible moisture intrusion in the garage, and more.
Forget the buyer being unhappy for a moment—you’re completely stunned yourself! How could your home possibly have all of these problems right under your nose for all this time? Truthfully, it may not take more than a handful of small items listed as defective or unsafe on a home inspection report to convince a first-time home buyer that the home is unsound. It just takes a little seed of doubt in a buyer’s mind, along with the non-experienced negative opinions from a few of their friends to become certain that either they are overpaying for the property and/or buying a home that needs too much work. This will likely result in them requesting repairs for everything in the home inspection report prior to closing, or else they’ll back out of the deal.
Before you know it, your property was in and out of escrow, and back on the market with the negative stigma that comes with such turnarounds. Now, you’re back to square one, only this time with more days on the market, and without the “Just Listed” excitement that everyone wants. And this is all due to some relatively minor repair items, most of which could have been addressed and repaired before the home was put on the market if you’d had a Pre-Listing Consultation first.
A Pre-Listing Consultation occurs before or during you putting your home on the market. When you get a Seller’s Consultation, you’ll be provided with important information about your home, including any defects that might give a buyer pause or a reason to walk away from the table. This allows the seller to make any necessary repairs on their own schedule before the defective systems and components of the house are uncovered by the buyer’s inspector. This can lead to an easier negotiation process, your home staying on the market for a shorter period of time, and even getting your asking price or better.
Flaky buyers and mid-escrow surprises are not fun and may end up being very expensive or even impossible to deal with. As a seller, being aware of the most common items that will be uncovered by a quality Seller’s Consultation before you list the property proves to be valuable during the transaction, especially when selling for top dollar.
Of course, things happen that are out of our control. Of course, not every snag in a sale transaction is preventable. Because of this, it’s important to be proactive and take preventative actions that are within our control . A Pre-Listing Consultation might be the one thing between you and a quick, successful sale of your home for the greatest profit.
Nexus Home Inspections, LLC offers comprehensive Pre-Listing Consultation to home sellers in Central New York, as well as Buyer’s Inspections and an array of home inspection services. Contact us today to book your appointment.