Homeowner Advice

5 Reasons Why You Should Get a Pre-listing Inspection

Whether you own a house or you are planning to purchase one in the future, it is understandable that you should want to be thorough when it comes to your largest asset. Is it worth the price? Does it need a lot of renovations?

It is quite common for most property owners to encounter home repair issues, like replacing the broken tiles in the bathroom or the heater and air conditioner not functioning properly.

To make sure that you avoid any potential issues before putting your home on the market, you need to get a pre-listing inspection.

What’s a Pre-listing Inspection?

A pre-listing inspection is a professional assessment of your home’s property. It is exactly like the home inspection a buyer will order when they are attempting to purchase your home. This is done by a professional home inspector.

Once they are done inspecting the property, they will give you a thorough inspection report. This will contain actual findings on what areas of your house need to be improved.

But why is it important to conduct a pre-listing inspection for your home? Here are five reasons why.

#1 Notice any hidden problems

If you think that your house is in great condition, a pre-listing inspection will detect any unknown issues that you may not have noticed before. It can be floor cracks in the foundation, slow drainage around the house, or even moisture in the attic. These issues will likely come up for the buyer’s inspector so it’s best for you to know about them ahead of time so you can mitigate and resolve them first.

#2 Set the right price

For most homeowners, setting a price for your house is not an easy task. It is important that you have conducted a pre-listing inspection beforehand to get all the facts about your home. It’s easier to assess the true value of your home when you have all of the facts. Plus, if you fix the issues that present themselves, you will be able to command a higher price knowing that your home is in the best shape possible.

#3 Avoid buyer negotiations

Before a buyer decides to close on a home, many will first do a buyer’s inspection to check if there are any issues that have not been disclosed by the seller or hidden from view. If you didn’t perform a pre-listing inspection and fix errors beforehand, there is a good chance that they will try to negotiate the price down to a lower value.

Or worse, they might never proceed with the transaction and cancel the purchase.

By conducting a pre-listing inspection, you get to have a head start and have these issues taken care of beforehand.

#4 Have a smoother real estate transaction

As a seller, you need to convince the buyer that the value of your home is worth their time and budget. By presenting them detailed information about the property through the pre-listing inspection report, you are letting the buyer know what they should expect.

A real estate transaction is complex and has many unknown factors. A pre-listing inspection is reducing the number of unknowns, making it smoother and easier for everyone.

#5 Assure the buyer’s decision and confidence

Most buyers are skeptical when it comes to buying a house. They are unsure about the house’s condition, which might lead them to negotiate a lower purchase price or pass on it altogether in favor of a home that may only seem to be better.

When you conduct a pre-listing inspection, you are giving an assurance to the buyer that the house is in great condition. There will be less fuss and stress to both parties, which fosters a mutual sense of respect and trust.

It may very well be the reason someone chooses your house over another!

Conclusion

The property value of your home is determined by its current condition. When it has repair issues, the estimated price that you have in your mind might go down.

Plus, the chances of a buyer wanting to proceed with the real estate transaction will become slimmer. Their skepticism and hesitations may affect their decision, which does not look good for both sides.

That’s why a pre-listing inspection is recommended for all homeowners who are planning to sell their house in the future. The fees for a professional home inspection and subsequent repairs might sound like a lot, but it is better than the buyer finding out on their own and derailing the transaction.

No comments found.

Words of Praise

I want to take the time to write and share my experiences working with Michael Koran and Primary Residential Mortgage. I first found Mike Koran back in 2009 online during one of the most uncertain financial times in History. As you can imagine I was skeptical of dealing with anyone I didn’t know personally but Michael was able to assuage me of that concern and I know that I had found the best lender I could have hope for who is honest and has an incredible work ethic while always keeping his clients best interests in mind and all times. Since then I have come back to work with Michael and his team on numerous occasions. I will always refer my family, friends and co-workers to Michael Koran and know that they will not only be in the best of hands but also get exceptional personalized service and incredibly good rates with very low costs.

Isabel S.

My wife and I were extremely satisfied with all the work Mike and his team did on our behalf. He is responsive, trust worthy, likable, a great communicator, knowledgable at what he does, and my wife and I always felt he had our back throughout our refinance. I plan to use Mike on the future for our mortgage needs. It is not an accident that he has so many five star reviews. He is one the best and we highly recommend you work with him.

James C.

My husband and I recently bought our first house in Walnut Creek. While the competition in this area is not as bad as Oakland and San Francisco, we decided to go with PRMI because we believed it would give us an advantage – Mike and his team were also strongly recommended. PRMI walked us step by step through the entire mortgage process so there were no surprises. They were extremely responsive throughout the whole process. Part of the reason my husband and I liked PRMI was because Mike’s team was able and willing to do tight close of escrow and they were very open to calling the seller’s agents assuring them of our strong financial situation.We would definitely use PRMI again!

Jennifer K.

Mike and his team are extremely professional, responsive, and knowledgeable. I will continue to refer my clients, friends, and family to Mike as I know that they will be taken care of and in the hands of somebody that I trust.

Valerie F.

Before my wife and I set out to buy our first house we asked our financial advisors for lender recommendations. They only gave us one name: Michael Koran at Primary Residential Mortgage, Inc. After going through the entire process of securing a loan from start to finish, I can see why they didn’t mention anyone else. Buying a house is scary, especially if it’s your first time and you don’t understand the process. Mike was always there to alleviate our concerns and answer our questions. Without his knowledge and advice I would have been a nervous wreck. If you ever need to secure a loan quickly and need a responsive, reliable team that can close quickly, I would highly recommend Mike and his team. K

Kyle A.

Mike is top rated, best in class, and trustworthy. I really enjoy working with him and his professional team. Responsive, smart, and knowledgeable. I have been working with Mike for nearly 10 years, can’t imagine going with anybody else.