Pre-Purchase Inspection: Benefits for Sellers
Having your home inspected before you list it can help you choose the best price for it and potentially give you an edge over other sellers in a tough market. Although it take some time to arrange the inspection, it can lead to a quicker sale.
A pre-purchase inspection is usually part of the process of buying a home — for buyers. But, one way to make a home more appealing or give your house an edge in a crowded real estate market is for the seller to hire a home inspector to perform a pre-listing inspection. A pre-inspection gives you, as the seller, an extra bit of reassurance that your house is in good shape. It also gives you a chance to fix any issues before you put the home up for sale.
In years past, the law around home sales in Philly and the rest of Pennsylvania was based on caveat emptor, or “let the buyer beware.” Although sellers are somewhat protected against litigation if there turns out to be something majorly wrong with the home, current Pennsylvania law does require a seller to disclose any known defects in the house that can’t be easily observed. While you don’t have to point out a large hole in the floor or a creaky step, as a buyer can easily see those issues, you do have to point out issues with the structure of the house or with water damage, if you know about them.
A pre-purchase inspection lets the seller know of any issues in the house before listing it. It allows you to fully disclose any potential problems in the home to buyers, which can help you build trust with them. A potential buyer will most likely still arrange their own inspection before they close on the home, but the pre-listing inspection gives him or her a better idea of what to expect.
A Chance to Correct Any Issues
If you have an inspector check out your home before you put it up for sale, you have the opportunity to fix any problem areas before buyers can get a look. Correcting problems in the house before it’s listed can make it more appealing. Buyers are more likely to be attracted to a home that has all new electrical, for example, or to a home with a new roof.
Save Some Money
When a home inspector finds a problem during an inspection, you usually have a very limited amount of time to decide what to do. You can offer the buyer a certain amount of money off of the sale price, or you can pay to fix the problem before the sale goes through. In both cases, you’re at a disadvantage, as you don’t have time to really process the issue or time to research and find the best contractor to do the repair. But, when you schedule an inspection before you list, you typically have ample time to correct the problem, meaning you can focus on finding the best person to do the job. If you prefer, you can also decide not to correct the problem, but to notify buyers of it and offer the home at a price that is slightly lower than the market value.
Philly is an in-demand area, with a lot of people looking to buy a home there. As a seller, you want to do whatever you can to attract people to your home and to get the best offer possible.