What is a pre-listing inspection?

In today’s edition of Farm Talk with Paul Ward (Home of the worry-free listing!), Paul talks about the importance of having a pre-listing home inspection, and what a pre-listing home inspection is.

He explains that the owner of the property can actually have a home inspection, before the sale of the property, rather than waiting for the buyer. And Paul tells us why this is a good idea.

This show is filled will lots of great information that you need to know. Listen in and learn how having a pre-listing home inspection can save you time, money and lots of anxiety.

Also visit: httphttp://vclifestyles.com , and http://homeandranchsellingteam.com

Transcription

What is a pre-listing inspection?

Today I want to talk a little bit about the idea of having a pre-listing home inspection. What I mean by that is a seller actually having a home inspection done on their own property before putting it up for sale. It’s very typical for a buyer to conduct a home inspection once they get their offer accepted and the property is in escrow, but I’ve always found it quite interesting that a seller does not do the same very often. Too often what will happen is a seller will feel that they know all about their property, they’ve lived there for years and there’s not really much more that they need to know. They want to save a few hundred dollars or a little bit more to have a home inspection on their own property. What invariably ends up happening is a buyer does a professional home inspection, it’s several pages long (anywhere from 50 to 150 pages) and then they submit a request of repair to the seller. The seller is then kind of dumbfounded by a laundry list of repairs that the buyer is asking for. This often leads to heightened anxiety on the part of the seller that really doesn’t need to be. By having a pre-listing home inspection, the seller can know more about the property than anybody else. This is really key because the seller really should know more about their property than anybody else. Also, if there are any red flags, the seller can take care of those items or at least know about them before putting their home up for sale.

For example, if there is a cracked foundation or there’s exposed electrical wiring or there’s a leak in the roof, a seller would have the choice of repairing those items before putting the home on the market. What often happens is when a buyer knows about an item first and they submit a request for a repair, they often ask for excessively costly repairs that might not totally be necessary. A seller being in charge first could save some money before a buyer comes along. I use the example of in California here we have termites and there are a lot of trellises that shade backyards and most of those are made out of wood. Well, by having a pre-listing home inspection, and maybe a pre-listing termite inspection, a seller will know what needs to be done to a trellis before a buyer comes along. Because a trellis is oftentimes is not a necessity, it’s just there for aesthetics, if the cost of fixing the trellis is excessive then a seller could decide to take the entire structure down before putting the property up for sale. This would save thousands of dollars because a buyer never saw the trellis and you can’t fall in love with something that you never saw. So, by not having the trellis, the buyer never saw the trellis, and so it’s not an issue. Once a buyer comes along and the trellis is there and it needs a lot of work, well then now you’ve waited on having a home inspection, you’ve waited on having in termite inspection and then the buyer goes ahead and does those things. Low and behold, now the trellis needs to be replaced or credited to the buyer the full amount.

So, by having a pre-listing home inspection you can save a seller thousands of dollars. It’s also a good idea to have a home inspection before putting a property up for rent, because the last thing you want to do is have a tenant move in and then there are challenges with the tenants and you’ve got to get a handyman in there and the tenant is upset because they just moved in and there are all kinds of costly repairs that need to be made.

It’s just a very good idea to spend a little bit of money and avoid a whole bunch of headaches down the road by having a pre-listing home inspection, and maybe a pre-listing termite inspection. If you find this information valuable, shoot us an email to paul@homeandranchsellingteam.com or message us. We are the home of the Worry-Free Listing and we hope to hear from you.