Home Inspection Checklist: What Sellers Should Know
A home inspection is an important part of the home sale process. In fact, some might even argue that it is the most important part of the process when it comes to making a good sale. In order to be successful with your home inspection, you need to be prepared. As long as you know what to look out for, you can pass your inspection and get the money that your home is worth. In this article, we will explore what you need to know to have a successful inspection.
What Should Sellers Know About Inspections?
Passing a home inspection with flying colors is something that every home seller should strive to achieve. To pass a house inspection successfully you first need to know what the inspectors will look out for.
A home inspector has been tasked with ensuring that your house is in good order—and that can be a problem. While your home might be fine for you, a home inspector will be quick to look for any problem points, particularly ones that you have overlooked. They will look at the home’s foundations, overall structure, quality of walls and flooring, basement, HVAC systems, plumbing, and general factors that might influence someone’s experience in your home. If you have a problem with your house, inspectors will find it.
Before you worry too much, remember that inspectors are not out to get you. They are, however, looking for any problems that might put the new buyer at a disadvantage—and that means that you need to prepare for everything. Sometimes, that might mean making upgrades or carrying out maintenance that you have let slide throughout the years.
Reasons to Complete a Home Pre-Inspection
Though it would be nice to live in a world where we could all trust one another, that isn’t the case. When it comes to buying a home, the tensions are much higher. Considering the fact that the person buying your home will be signing on for a large commitment at a high price, it is understandable that they will want to know that they can trust in their purchase.
The main reason to complete the inspection is to create a sense of comfort for the buyer. Before someone will buy your home, they will want to make sure there aren’t any expenses hiding just around the corner. Agreeing to work with an inspector can help you to prove that your home is worth the asking price.
In addition to demonstrating the true value of your home, committing to a pre-inspection is important for negotiating. A house inspection will give you a much clearer understanding of the true value of your home. It will show you what selling points you have, as well as what is holding your home back—and you can use this information. Whether it is agreeing to make certain upgrades to sell the home for a higher price or simply knowing what features to push to justify your asking price, this can have significant benefits.
Reasons Why Home Inspections Kill Deals
The truth is that few things are worse for a potential home sale than a poor inspection. Being given a bad review on your home will scare off potential buyers—and it is easy to see why. No one wants to make a poor investment, particularly when that investment comes at the price of hundreds of thousands of dollars. When your buyers see a bad inspection, don’t be surprised if they immediately lose interest.
Not every bad inspection will kill a deal outright, though it is highly possible. Regardless, the deal will absolutely change. How you navigate these changes might very well be the reason that the deal still falls through. At the point where you receive poor marks on an inspection, your potential buyer will likely want to renegotiate.
It is fairly common for negotiations to change as more information on a home becomes available. When this happens, your buyer will likely want a lower price or will ask you to make accommodations to fix the problem areas. If you are unwilling to concede, there is a very likely chance that the buyer will simply move on.
Prepping Buyers and Sellers for Surprises Can Help Keep a Transaction on Track
While a bad review from a home inspector will not reflect well on you, you can preserve the deal by getting ahead of it with the potential buyer. If you know that something is wrong with the home or that there are problems that need to be managed, do not hide that fact. Buyers are more likely to be upset when they learn from an inspector than they would if you were simply honest about it. Being upfront about issues can keep a deal on track—and it allows you to work towards a solution.
Some people will have their homes inspected before the official home inspection, so they know where they stand. This gives them the opportunity to make any changes or to brace the potential buyer before the big inspection occurs. Doing this can save you quite a few headaches, and it allows you to be open and honest when negotiating with the buyer. A poor review can make you look dishonest, so always make sure that you share the good and bad with your buyer. When you do, you will have a much easier time making a mutually beneficial transaction.
Preparing before you list a house for sale is an important part of the real estate process. Make sure that you are aware of the good and bad that is present in your home, and that you are able to speak to these factors. Preparing for a home inspection is a great way to give your home’s value a boost so that you can make the best possible sale. When in doubt, work with your real estate agent to ensure that the home is ready for sale. Your new buyer might be just around the corner!