In this red hot real estate market, perhaps the last thing on sellers’ minds are pre-listing home inspections. After all, homes are selling in record time and often even being sold to sight unseen cash buyers. Therefore, is a pre-listing home inspection even worth doing? Below we discuss some reasons to consider this strategy to help the home selling process move along quickly and smoothly.
Reasons to conduct a pre-listing inspection
- Higher sales price: On average, properties that have had a pre-listing inspection completed sell for more money. Oftentimes, buyers are more willing to pay top dollar for a property that has been thoroughly inspected and repaired, if applicable.
- Accelerate the buying process: In some cases, buyers may even forego their own inspection on a property if one has already been conducted and shared with them. This can certainly accelerate the buying process and may even remove a major hurdle in the transaction.
- Avoid last minute negotiations: Last minute negotiations are somewhat common in real estate. Typically, these negotiations revolve around the results of the home inspection report(s). A pre-listing inspection can bring potential issues to light, allowing sellers to either address them before listing a property or adjust the pricing to cover the costs of repairs.
- Price the home accurately: Pricing a property appropriately is the single most important aspect of a listing. With a pre-listing home inspection, you will have a better understanding of any flaws or damages to the property and therefore be better able to price it accordingly. In the event that the seller does not want to repair or replace certain items, they may share the inspection report results and offer a credit to the buyer for these items.
Summary
There are no clear cut signs to determine whether or not a pre-listing inspection is warranted. Like with any property, it is important that sellers collaborate with their local and knowledgeable real estate agent on the optimal strategies to sell their property. The current inventory of homes for sale combined with recently closed sales will be a good starting point in evaluating a property. To go the extra mile in ensuring buyer confidence, a pre-listing home inspection can go a long ways.
Are you looking to buy or sell a property in South Florida? Now more than ever, it is critical to have a qualified real estate team and the proper search tools behind you. At Live South Florida Realty, Inc., we have been a leader in the South Florida market for many years. Let our team of professionals assist you with buying or selling your piece of paradise today! In addition, our recently launched “Florida Home Search” app is now available on the Apple App Store and Google Play Store. With real-time MLS feeds, this app lets you set your own alerts to notify you as soon as a property meeting your needs hits the market. Furthermore, it will also let you know of recent closed sales in your area so that you may be even more educated on the market. Be sure to download this app for your smartphone or tablet today!
