Pre-Listing Home Inspections – Should I Have One Before Putting My Home On The Market? – YES!

featuredContent_templateShould I Pay to Have My Home Inspected Prior to Putting it on the Market?

YES! – This has always been a good idea but it never really seemed to catch on here in the Carolinas. But, with the recent changes in our North Carolina real estate contracts, a Pre-List Inspection is now more important than ever.

North Carolina is now what we call a Due Diligence contract state. The new contracts are more fair to both Seller and Buyer, and help spell out specific due diligence for both parties. Essentially, the Seller’s due diligence is on the front end, or when they list the property, with the Buyer’s due diligence on the back end, when they make an acceptable offer. Once the Buyer’s offer is accepted, the Buyer has the opportunity to perform their inspections of the property … mechanical/structural, wood-destroying insect, mold, radon, roof, chimney, perform a survey, etc. The buyer can order any inspection they want, at their expense, to satisfy their personal due diligence and to decide if they are going to move forward and close on the property.

The Seller needs to understand what the buyer will be doing in their due diligence period … they will be fully inspecting the property, top to bottom. With the new contract, the Buyer can ask for “anything” to be done i.e make repairs, paint a room, etc. Even though they can ask for “anything” we are not really seeing Buyers going overboard with this. In my experience, the Buyers, for the most part, are being reasonable. Even though the Buyer can ask for anything, the Seller can say no … but the Seller needs to know that the Buyer can walk away from the deal for any reason, provided that it’s during their due diligence period which is spelled out in the contract. This is why it’s important now, more than ever, for Sellers to do a pre-list inspection. The pre-list inspection will let you know what needs attention to get the property ready to market. The repairs can be made ahead of time, or if it’s something major, you will know then and can make adjustments for that major repair when you list … perhaps you make an adjustment in the listing price, or plan to offer a credit to the buyer, etc.

The fact that you have done a pre-list inspection and made the necessary repairs will help you market the property as well. Let’s face it, at a cost of approximately $400, not all Sellers are going to do a pre-list inspection. By doing one, you will have an advantage over the competition. It can also help you maximize your return in the sale of your property.

It is true that the Seller can make all the repairs that come up later … but it’s best to do them prior to listing. As a Seller, especially in a Buyer’s market, why do you want to create doubt in the Buyer’s mind in the middle of the transaction? You would rather have a Buyer that is excited about buying your home … that translates to a happy Seller as well, wouldn’t you say?

And if you have a fence, shed/out-building, or other exterior feature … sellers should consider having their own survey done as well. If there is an encroachment issue, knowing about it early will give you time to correct the issue.

Call me with your questions, I’m here to help!

 

Should I Pay To Have My Home Inspected Prior To Putting It On The Market?

Should I Pay to Have My Home Inspected Prior to Putting it on the Market?

YES! – This has always been a good idea but it never really seemed to catch on here in the Carolinas. But, with the recent changes in our North Carolina real estate contracts, a Pre-List Inspection is now more important than ever.

North Carolina is now what we call a Due Diligence contract state. The new contracts are more fair to both seller and buyer, and help spell out specific due diligence for both parties. Essentially, the seller’s due diligence is on the front end, or when they list the property, with the buyer’s due diligence on the back end, when they make an acceptable offer. Once the buyer’s offer is accepted, the buyer has the opportunity to perform their inspections of the property … mechanical/structural, wood-destroying insect, mold, radon, perform a survey, etc. The buyer can order any inspection they want to, at their expense, satisfy their personal due diligence and to decide if they are going to move forward and close on the property.

The seller needs to understand what the buyer will be doing in their due diligence period … they will be fully inspecting the property, top to bottom. With the new contract, the buyer can ask for “anything” to be done i.e. make repairs, paint a room, etc. Even though they can ask for “anything” we are not really seeing buyers going overboard with this. In my experience, the buyers are, for the most part, are being reasonable. Even though the buyer can ask for anything, the seller can say no … but know that the buyer can walk away from the deal for any reason. This is why it’s important now, more than ever, to do a pre-list inspection. The pre-list inspection will let you know what needs attention to get the property ready to market. The repairs can be made ahead of time, or if it’s something major, you will know and can make adjustments for that major repair when you list.

The fact that you have done a pre-list inspection and made the necessary repairs will help you market the property as well. Let’s face it, at a cost of approximately $400, not all sellers are going to do a pre-list inspection. By doing one, you will have an advantage over the competition. It can also help you maximize your return in the sale of your property.

It is true that the seller can make all the repairs that come up later … but it’s best to do them prior to listing. As a seller, especially in a buyer’s market, why do you want to create doubt in the buyer’s mind in the middle of the transaction? You would rather have a buyer that is excited about buying your home … that translates to a happy seller as well, wouldn’t you say?

And if you have a fence, shed/out-building, or other exterior feature … sellers should consider having their own survey done as well. If there is an encroachment issue, knowing about it early will give you time to correct the issue.

Call me with your questions, I’m here to help!