Elisa Spence's Blog
Most buyers understand the importance of getting a home inspection before purchasing a property. But did you know that some sellers are also opting to invest in a pre-inspection? These savvy homeowners realize that a pre-inspection can be a very helpful tool when it comes time to market their houses. If you're thinking about putting your property on the market, you might want to consider following their lead. The following are four ways that a pre-home inspection could benefit you during the sale of your house.
To Avoid Surprises
Imagine this scenario: You thought that your house was as good as sold, but then the buyer's home inspection reveals a major defect. The problem is worrisome enough that your buyer decides to back out of their sales contract. Now, you're having to put your house back on the market. If you had opted for a pre-inspection, chances are high that your inspector would have discovered the defect and you could have addressed it before listing your property.
Could Help with Your Sales Budget
Getting a pre-inspection report can also help you determine the best way to spend your money while readying your house for the market. For example, you may be thinking of paying to professionally stage your home. But if a pre-inspection turns up several defects that could impede the sale of your house, it would make more sense to channel your money towards necessary repairs.
To Save Money on Repairs
Buyers often add a clause in their sales contract that requires any issues discovered during their home inspection -- even minor ones -- to be repaired by a professional contractor. This can often be unnecessarily expensive. A running toilet, for instance, discovered during a pre-inspection can usually be fixed easily, cheaply and satisfactorily to code by a handyman or even by the homeowner. But a buyer may require the seller to use a plumbing contractor to fix the very same problem if it is written up in their home inspector's report.
Help You Determine Your Sales Price
A pre-inspection report can also provide you and your agent with important information that can help you to accurately price your property. If, for example, your house has some minor issues, such as an aging roof, that you don't want to fix, you can decide to price your home accordingly.
While there are many positive reasons for having a pre-inspection performed on your home, there are some cons, too, including:
- A pre-inspection typically costs several hundred dollars
- You may be obligated to disclose any defects discovered during the pre-inspection to potential buyers
If you're thinking about selling or buying a home, contact me. I would love to talk to you about my services and how I can help you better navigate the home buying or selling process.
A home inspection is a vital part of every real estate transaction. Its importance is usually solidified in a purchase contract in the form of a contingency clause.
Whenever you buy or sell a home, the transaction is typically contingent upon a few things being fulfilled. Inspections help protect the buyer from purchasing a home that they believed didn’t have any major issues.
For buyers, an inspection can save you thousands in the long run. For sellers, getting a preemptive inspection done (on your own dime) can be useful since it will help you avoid any surprises that could arise when a potential buyer has your home inspected.
Hiring a home inspector
Regardless of whether you’re the buyer or the seller in this instance, hiring a home inspector isn’t something you should take lightly. You’ll want to confer with your agent before you pick an inspector.
It’s also a good idea to check out some online reviews and visit the inspector’s website for pricing. Typically, inspectors charge between $200 and $400 for an inspection, so feel free to shop around.
Inspectors are certified, so make sure whoever you choose has the proper licensure. You can search for inspectors in your area with this search function.
Ultimately, you’ll want to choose an inspector that can give you the most unbiased assessment of the home, so that you can be assured that you know what you’re getting into when you buy or sell a home.
Preparing for an inspection
Many buyers aren’t sure what to expect on inspection day. However, the process is relatively simple.
You’ll want to make sure the inspector can easily access workspaces (like around the furnace, circuit breakers, etc.). This will make the inspector’s job easier and allow them to focus on the service they’re providing you.
If possible, it’s also a good idea to provide them with records of important home maintenance and repairs. Inspectors know what red flags to look for with the home, both physically and on paper.
Finally, make sure pets, kids, and any other distractions are away from home or with someone who can attend to them.
After the inspection is complete, the inspector will hand you a report and be able to answer any questions you have about their findings. They will give recommendations about the timeline for repairs that need to be made soon or even years into the future.
With this report in hand, you can determine if there are repairs you want to negotiate with the seller if you’re buying a home. As a seller, this report will tip you off to issues that potential buyers will likely have and give you a chance to address them in advance.
When buying a house, especially your first home, it's all too easy to make impulsive decisions and fail to "see the forest for the trees."
Although it's impossible to ignore your emotional reactions to a house for sale, it's vital to look at the big picture and make sure there are no red flags being ignored or glossed over.
For example, if the foundation of the house looks unstable or the surrounding neighborhood is showing signs of deterioration, it's ultimately not going to matter how much you love the layout of the kitchen or the convenience of a first floor laundry room. Major problems can overshadow the desirable features of a home and have long-term implications on your finances (and sanity).
Even though the future marketability of a house may be the last thing on your mind when you're searching for your next home, it's a factor worth giving some serious thought to. When that aspect of home ownership is overlooked, it could result in headaches and possible financial loss down the road. While real estate generally has a tendency to appreciate in value over time, there are exceptions.
The good news is that many potential problems can be prevented by combining common sense with the advice of qualified professionals, such as an experienced, certified property inspector. If you're wondering what's covered in a typical home inspection, the American Society of Home Inspectors offers this overview: "The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components."
So while inspectors can't look behind every wall or accurately predict the remaining lifespan of an existing HVAC system, they can provide you with a lot of valuable tips, recommendations, and insights into the condition of a house for sale. Working with a top-notch real estate (buyer's) agent will also help you avoid many of the potential pitfalls of buying a home.
While nobody wants to move into a "money pit," the likelihood of finding a home that's absolutely perfect and doesn't need any repairs, updates, or improvements is extremely low. Home buyers who are too focused on perfection may eventually realize that their standards are unattainable. A successful search for a new home hinges on the ability to distinguish between a minor cosmetic problem, such as an unappealing paint color, and a major problem, like a basement that floods regularly or a roof that's been compromised by storms, falling branches, or long-term neglect.
Although home buyers have differing expectations when it comes to repairs, remodeling, decorating, and renovations, one thing's for sure: Everyone wants to add their own personal touches to a new home and make it feel and look like their own!
If you plan to buy a house and want to achieve the optimal results, you should perform a home inspection. In fact, there are many reasons why you should allocate significant time and resources to conduct an in-depth house inspection, and these include:
1. You can gain unprecedented insights into a home's condition.
Although you might have fallen in love with a house when you first saw it, a home inspection may make you rethink your decision to purchase a residence. To better understand why this may be the case, let's consider an example.
If you conduct a home inspection and discover a wide range of problems with a house, you have a tough choice to make. In this scenario, you can continue with a home purchase as planned. Or, you may be able to make a viable argument that a seller should perform assorted house repairs or reduce his or her sale price based on the inspection results.
Ultimately, a home inspection provides you with insights that you may struggle to gain anywhere else. And if you perform an extensive home inspection, you may reap the benefits of this evaluation for years to come.
2. You can avoid the risk of paying too much to acquire your ideal residence.
As a homebuyer, it is important to do everything possible to get the best price on a house. But even if you conduct real estate market research, you risk spending too much on a house if you ignore a home inspection.
With a house inspection, you can learn about various home problems, along with the costs associated with such issues. Then, you can use this information to determine whether your initial offer is sufficient, or whether you should request a reduced home price based on a residence's condition.
3. You can limit the possibility of costly home repairs.
Thanks to a home inspection, you can identify home issues that otherwise may lead to costly repairs down the line. You then can use this information to decide whether you can complete myriad home repairs on your own, or whether professional support is needed to perform house improvements. And if you are overwhelmed by the costs associated with many potential home repairs, you can always walk away from a home sale at this time.
Clearly, there are many reasons to perform a home inspection before you finalize a house purchase. If you hire an expert real estate agent, you can receive plenty of support as you prepare for a home inspection too.
A real estate agent is happy to put you in touch with the top home inspectors in your area. Plus, a real estate agent will attend a home inspection with you and is ready to provide guidance throughout the evaluation. Perhaps best of all, a real estate agent can meet with you after a house inspection, go over the inspection results with you and help you make an informed decision about whether to proceed with a home purchase.