Selling your house is, for most of us, the biggest transaction we will ever make in our lives; so getting the most from your home is very important. The value of your property can be determined in many ways using an array of different variables, such as neighborhood location, square footage, the property’s age, etc.; however, like anything of value, the overall condition of the property can drastically affect its full value.
The outward appearance of a home can easily be viewed and determinations can be made about simple cosmetic repairs. These repairs are generally made prior to listings so that the house will look better to potential buyers. These cosmetic repairs are important to showcasing the property as they make positive first impressions that are vital to putting your home on the market. But, they typically have very little effect on the overall value or condition of the property.
To get a more complete knowledge of the condition of your home, you will need to take closer looks inside and out to check areas of the property that are not as easily accessible. This is why a pre-listing home inspection is so important. A typical home inspection will evaluate the condition of your home and so much more. During a home inspection, the inspector will identify and assess the following systems: Structural, Exterior, Roofing, Plumbing, Electrical, Heating, Air Conditioning, Interior, Insulation and Ventilation, and Kitchen Appliances. Through their assessments, they determine if all systems are operating as intended, only appear to be operating, or not properly functional at all.
Any systems found not functioning as intended are a potential concern to a buyer and can cost the seller if not addressed. This is why a home inspection and the information received in the report afterwards are so crucial as they give a full understanding of your home’s condition.
There are many reasons why doing a pre-listing inspection of a property is beneficial to the seller. The most important of which is knowledge. Knowing the condition of the property is vital to selling at the best price based on all factors, especially the condition of the home. You do not want there to be any surprises later when you have already accepted an offer. Once an offer is accepted, it could be quite the headache to discover any further repairs that will cost more than initially expected.
Any unforeseen or ignored repairs could place a transaction in jeopardy and reduce the sale of your home. Knowing the condition of your home in advance will allow you to correct what is needed, under your terms and budget, without the offer looming over your head. This knowledge allows you the time and convenience to complete repairs with your choice of inspection professionals and without the buyers making demands.
Many simple repairs can be done with very little effort and cost prior to the contract, but, would likely require licensed contractors and receipts afterwards to satisfy a buyer. The home inspection report will also make you aware of any issues that you may not want to repair for whatever reason. Having knowledge of these issues allows you to formulate your own responses to a buyer should they address any negative findings.
Another advantage to having the home inspected prior to listing is that it can be a great selling point. The fact that you inspected the home and made repairs to improve its condition comes across to the buyer that this is a well maintained home. It also displays that you, the seller, are not trying to hide anything. Honesty and integrity are important factors that buyers recognize and appreciate when deciding on their greatest purchase.
When you receive and offer on your home, you will most likely require the buyer to pay a due diligence deposit at the time the offer is accepted. Having your home off the market could cost you other prospective offers if the sale falls through, so you want to make sure that your buyer is committed to the purchase. For some buyers, committing to the purchase with little more than one or two showings could make them hesitant of the due diligence commitment. By doing a pre-listing inspection and making the needed repairs, you are showing your commitment to the purchase as well; while, trying to alleviate some of the buyer’s concerns about the property. This understanding of the buyer’s concerns and your efforts to address those concerns will make it easier for them to make an informed and committed offer.
To get the best sales price on your home, you need a true, complete assessment of the property. A home inspection is just another tool, like a market analysis, to determine its value. Once the decision has been made to put your home on the market, you should do everything within your means to make the property presentable and inviting. You want to discover all issues as early on as possible and address them as soon as they appear or affect the possibility of a completed transaction.
You want to know the concerns and identify those that you feel comfortable doing and be ready to answer any questions that may come up. With a full understand of your property, you can get the most from your home with no surprises and a greater chance that the deal will proceed without problems. A thorough home inspection can set your home apart from others entering the market and give you some peace of mind that your home is truly ready to sell.
This post was written by our friends over at Saylor’s Home Inspection. They offer several great inspection services throughout the Raleigh and Lake Gaston areas. Visit them on their website here: https://saylorshomeinspection.com/
Featured photo found on triplemint.com through Google. Saylor's Home Inspection logo retrieved from their website.