How Sellers Benefit from a Home Inspection
By George Potter
Texas Realtor Magazine – Jan/Feb Issue
Most buyers recognize the value of property inspections. That’s why a home inspection has become a common occurrence during the option period of a residential contract. But the benefits of a home inspection aren’t exclusive to the buyer’s side of the transaction.
Think about it. The results of a home inspection affect all manner of contract negotiations and influence how comfortable potential buyers feel about a property. What other part of the transaction can have such a profound affect on intangibles like a buyer’s emotions?
All sellers should get an inspection for their home before it goes on the market. Here are the reasons why:
Price. The cost of an inspection is usually less than the first price reduction asked for by buyers. Also, a home with a clean bill of health can support a higher sales price.
No surprises. You’ll dramatically lessen the chance that a buyer’s inspection will reveal surprises about needed repairs or maintenance.
Stands out. Performing a seller’s inspection differentiates a home from others on the market.
Minimizes concessions. During negotiations, small items found during a buyer’s inspection sometimes escalate into demands for larger fixes. Proactively correcting small things helps avoid discussions of repairs.
Comfort buyer’s. A home in documented good shape or even one with disclosed conditions offers a comfortable certainty for buyers. Instead of loving a home and wondering about added costs from unknown problems, buyers can focus on closing the deal. Such an open marketing approach can attract buyers and keep them interested.
Fewer terminations. With more information at their disposal before they make an offer, potential buyers are less likely to use their termination option in the contract. This saves time and money that may have been spent on a deal that dies.
A seller’s inspection places the home well for selling and avoids surprises that coprimise many transactions. I believe they help ensure a smoother, faster closing. Who doesn’t want that?