Published July 15, 2022
Why You Need a Home Inspection (Plus a special discount just for our clients!)
As we’ve mentioned, the market is changing, but as the shift takes shape, some listings are still attracting multiple offers and ambitious terms. You may be wondering if it’s still a needed negotiation tactic to waive inspections in order to get the home you want.
We always recommend getting an inspection because they are vital to protect both Buyers and Sellers. A general home inspection provides a professional evaluation of the condition of the property so the Buyer is not solely reliant on the Seller’s representation of the home’s condition. It’s important to keep in mind that inspections are designed as a visual overview to help discover issues with the structure, systems, and health/safety of the home, but they do not focus on cosmetic or aesthetic shortcomings. In addition to major items like HVAC, electrical, and plumbing, some of the other things reviewed are insulation, windows, ventilation, roofing, siding, and the crawlspace.
Because we believe so strongly in home inspections, we are pleased to partner with Alpha Home Inspections to offer our clients exclusive discounted pricing on both Buyer & Seller inspections, along with a new option called a Seller pre-listing walk-through. You can find all the details about these offers at the end of this article, but first, let’s talk about why inspections are so important.Why Home Inspections Are Important For Buyers
1. Inspections reveal conditions that could be “deal-breakers” or provide reasons for repair negotiations
Purchasing a home is a major expense, which is why you need to ensure you won’t be facing avoidable problems down the road. If the inspection identifies areas that require attention, you can potentially negotiate with the Seller to address the issue(s). You might ask the Seller to make repairs before closing or request a credit or a price reduction to accommodate the repair expenses after closing. If there is an inspection contingency included in the offer, you may have the option to terminate with a full earnest money refund.
2. Plan for future expenses
An inspection will identify the age and condition of the major systems in the home (e.g. furnace, air conditioning, water heater, roof, etc.) which will give you an idea of when these items may require replacement. This information will allow you to budget for these future expenses and plan for regular maintenance.
Pre-Listing Inspection Or Pre-Listing Inspector Walk-Through?
Sellers have two options to learn about the condition of their home prior to going on the market: The first is a pre-listing inspection, which is a complete home inspection with a thorough written report. The second is a pre-listing inspector walk-through, which is a new offering from our partner, Alpha Home Inspections. It consists of an inspector and homeowner walking through the house together while the inspector provides suggestions for repairs or maintenance.
Completing a general home inspection or doing a walk-through with a home inspector prior to listing your property for sale can be very helpful in identifying potential unforeseen conditions that could scare a Buyer into terminating during their inspection period. It will also identify any needed maintenance so you can get the home ready for a new owner. A pre-listing inspection may not eliminate the Buyer’s inspection, but it can provide valuable information to help increase the Buyer’s comfort and confidence with the home and set you up for a smooth home sale or potentially a higher offer.
Why Pre-Listing Inspections Or Inspector Walk-Throughs Are Worthwhile For Sellers
1. Avoid unexpected costs or repairs while the sale is pending
Either type of pre-listing inspection can identify red flags that could cost you additional money or delay the sale process. Having a thorough idea of the condition of the home and systems will also help you price the home correctly to avoid negotiating repairs, taking a price reduction, or giving credits to the Buyers at closing, all of which will reduce a Seller’s net sale proceeds.
2. Save money
If you make repairs prior to listing your home, you have control over the contractor and the cost of the services. Once a Buyer is involved, any resolution for needed repairs is no longer solely at the discretion of the Seller. Costs may also be higher because of greater urgency, and Buyer demands may influence how the issues are corrected.
3. Ease Buyers’ concerns
Providing a pre-listing inspection to potential Buyers shows that you are a dedicated homeowner and it can boost potential Buyers’ confidence about the condition of the home. This is especially important if you are selling an older home.
4. Gives you information for completing the Seller's disclosures
Having a pre-listing walk-through or inspection allows you to thoroughly and openly complete the Seller Property Disclosures. This information can help expedite the sale process as the risk of unforeseen deal-breaking conditions being found is minimized by inspecting in advance. It is important to note that if a full home inspection is completed, the report should be shared with the future Buyer, along with any invoices for work completed after the inspection.
