Hi everyone. Hope all is going well for you this week.
This week’s topic is the pre inspection and should a seller bother with that. As with most topics, there are few absolutely right or wrong answers, but we can put out some guidelines and considerations.
Let’s say that I’d like to sell my home as is. I don’t want to make any updates or repairs. I still have to provide a seller’s disclosure in which I’m truthfully stating all that I know about the home’s condition, any previous repairs or items that came up and what was the resolution or remedy to them. Knowing that the property will be sold as is, potential buyers will be reviewing this document very carefully.
Imagine that, along with the seller’s disclosure, the seller provides an inspection from a licensed inspector identifying any and all issues that were discovered. This data might give the buyer the confidence they need to go forward with the unknown of an “as is” purchase. If any significant issues are on the report, you might provide repair estimates on those items and have them available to potential buyers during their showing.
Now that I have an inspection report (and possibly some repair estimates), we have the potential for much less haggling after the buyer conducts their own inspection as those issues have already been revealed and priced into the initial contract.
Pricing considerations make much more sense now since the seller and their agent have compared the condition of the home to others on the market and priced it accordingly. In addition, I believe it gives the seller’s property a competitive edge.
One item to consider. You must disclose that a pre inspection has been conducted and the report must be made available…even if the seller does not like what is on them. OK, so you must disclose. The buyer is going to find out the condition of the property anyway with their own inspection so there is no point to even think about getting cute with disclosure.
Obviously, pre inspection would not be necessary for all properties, but its worth considering for the right type of situation.
I hope this gives you some options on your upcoming sale and don’t hesitate to contact me with any questions.
Realtor — Domicile One Realty
Licensed in Kansas and Missouri