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HOME INSPECTIONS FOR SELLERS
RESIDENTIAL HOMES AND UP TO 4 UNIT MULTIFAMILY HOMES
You are in a much better position to receive the highest price for your home when you know the overall condition of the property and defects or concerns before placing the home on the market. Most sellers feel compelled to drop the purchase price of the home because of some unknown issue or concern identified during the buyer’s inspection. But being prepared with this knowledge ahead of time allows you to manage these matters without necessarily having to drop the price.
In many cases, the buyer will accept the results of a Licensed Certified Professional Home Inspector rather than hire yet another inspector. The fact that you were proactive in having a home inspection completed before the sale of the home conveys openness and honesty to prospective buyers and sets you apart from other sellers who did not have an inspection completed before listing their home for sale.
What are some advantages for the Home Seller?
The seller can choose a certified InterNACHI inspector, rather than be at the mercy of the buyer’s choice of inspector.
- The seller can schedule the inspections(s) at the seller’s convenience.
- It can alert the seller of any items of immediate concern, such as elevated radon gas levels or an active termite or pest infestation.
- The seller can assist the home inspector during the home inspection, something not normally done during a buyer’s inspection.
- The seller can have the inspector correct any misstatements in the inspection report before it is generated.
- The report can help the seller price the home more realistically if problems exist.
- The report can help the seller substantiate a higher asking price if problems don’t exist or have been corrected.
- A seller inspection reveals problems ahead of time, which:
- can make the home show better;
- gives the seller time to shop for competitive bids and make repairs;
- permits the seller to attach repair estimates or paid invoices to the inspection report; and
- removes over-inflated buyer-procured estimates from the negotiating table.
- The report might alert the seller to any immediate safety issues found before agents and visitors tour the home.
- The report provides a third-party, unbiased opinion to offer to potential buyers.
- A home seller inspection permits a clean home inspection report to be used as a marketing tool.
- A seller inspection is an ultimate gesture in forthrightness on the part of the seller.
- The report might relieve a prospective buyer’s unfounded suspicions before they walk away.
- A seller inspection lightens negotiations and 11th-hour re-negotiation.
- The report might encourage the buyer to waive the inspection contingency.
- The deal is less likely to fall apart, the way they often do when a buyer’s inspection unexpectedly reveals a last-minute problem.
- The report provides full-disclosure protection from future legal claims.
Advantages for the Home Buyer:
- The inspection is already done.
- The inspection is paid for by the seller.
- The report provides a more accurate, third-party review of the condition of the home before making an offer.
- A seller inspection eliminates surprise defects.
- Problems are corrected, or at least acknowledged, before making an offer on the home.
Common Myths About Seller Inspections:
Q. Don’t seller inspections kill deals by forcing sellers to disclose defects they otherwise wouldn’t have known about?
A. Any defect that is material enough to kill a real estate transaction is likely going to be uncovered eventually. It is best to discover the problem ahead of time before it can kill the deal.
Q. A newer home in good condition doesn’t need an inspection. Why should the seller have one done?
A. Unlike real estate agents, whose job is to market properties for their sellers, inspectors produce objective reports. If the property is truly in great shape, the inspection report becomes a pseudo-marketing piece, with the added benefit of having been generated by an impartial party.
How long does a home inspection take?
A typical home inspection takes roughly 1.5 and 2 hours to complete, based on a 2500 sq ft vacant home. A 2500 sq ft home that is furnished will take approximately 2 hours.