When To Consider A Home Inspection Before Listing
Dated: June 9 2020
When and why should you consider having inspections done prior to listing your home on the market.
In our area it is customary for the buyer to pay for inspections. But when would it be advantageous for a seller to do them prior to going active. I don’t always recommend this, but here are a few examples as to why having inspections done prior to listing is helpful. It can end up saving you time and money!
As a seller you want to be aware of the condition of your property and we don’t want any unexpected costs to come up that you weren’t aware of. I’ve seen termite inspections well over $5,000. Imagine, getting a termite bill for $5,000 and the only way the buyer will buy the home is if it’s fixed or paid for. But you have already purchased another home and you need that $5,000 to qualify for your next home. This would create a huge problem.
What about this, let’s say you found out that the home you’re selling needed a new roof or air conditioning unit to be replaced. You could do a few things, sell the home “As Is’ and disclose the issues, not sell at all, or take what needs to be done and fix it.
The idea behind getting inspections done prior is so that there are no unexpected surprises that could financially hurt you later. I want the seller to be aware of any additional expenses that could possibly arise from the sale of their home. The inspections I recommend are the standard, customary inspections that a buyer would do. I recommend a Home Inspection, a Roof Inspection and a Termite Inspection. In most cases you have the option to pay for these up front or when escrow closes.
In regards to the Home Inspection and Termite, It’s helpful but not mandatory to make sure all the health and safety items are fixed, as well as all section one Termite work, which includes dry rot, leaks and of course termites as these are very common requests that buyers have. It helps the seller because they have much more assurance that they will actually “net” what it is that they thought when going into escrow. It gives you peace of mind that the buyer won’t ask for any unreasonable or outlandish repairs. It also cuts down on inspection times. Having inspections done prior also protects the seller if they have a replacement property to purchase and need every penny out of their sale to secure and close on their new purchase. Also the buyer is more confident that they are buying a sound home that is in move in ready condition.
If there is bank financing on the property, some loan programs require health and safety as well as Section 1 termite work to be completed prior to closing escrow so with that already being completed, there is further assurance that the loan will go through. To wrap it up, seller, buyer and lender more confidence throughout the entire transaction that the home will actually close. It keeps everyone safe during and after the close of escrow.
I have been a real estate agent here in Ocean Beach for the last 11 years and have lived in and loved this little beach community collectively for 20 years. My passion is helping people and after reti....