Let us simplify the process: Pre-approved, Pre-qualified. Sound familiar? It’s that desirable? Home inspections have traditionally been for the benefit of the purchaser. Wouldn’t a Pre-inspected listing be desirable to all parties?
We believe that today’s difficult real estate market makes a pre-inspected home easier to market. Offers are cleaner and deals are less likely to be renegotiated or fall through. Pre-inspected listings afford purchasers, homeowners and Realtors the information and protection they all deserve. Isn’t that desirable?
Deals won't fall through: Home inspections, performed as a condition of the offer, can kill deals. Sometimes this is because the purchaser gets cold feet; sometimes there's a big problem no one knew about. Sometimes it is because the house has been mis-represented; sometimes it is because the home inspector scared the purchasers by not explaining that minor and typical problems are just that - minor and typical. If the home inspection is performed prior to the house being listed, all parties will be aware of the physical condition of the house before an offer is drawn. There will be no surprises after the fact.
Pre-inspected listings avoid renegotiation: In a buyers' market, most houses have to be sold twice. It takes a lot of work to get a signed Agreement of Purchase and Sale. Then the home inspection is done and the purchaser wants to renegotiate.
If all parties know the condition of the house prior to the offer, there is no need for renegotiation. As most real estate agents know, renegotiation is very difficult. The homeowner has already mentally sold the house; purchasers are suffering buyers' remorse. Egos, pride and frustration can muddy the already emotional waters.
A seller who pays for a home inspection will be further ahead than one who has to renegotiate. He or she may even sell the house faster. Isn’t that desirable?
Unrealistic Homeowner: A listing inspection report can bring to your attention anything a buyer or a buyer's inspector might notice. With this information, you can make any needed repairs prior to a buyer ever stepping into your home. Houses in top condition show pride of ownership and usually sell faster and for more money.
Sometimes, the home inspection will reveal items that should be repaired immediately. A pre-inspected listing allows the homeowner to repair the problem prior to putting the house on the market. If the inspection occurs after the Agreement of Purchase and Sale, the purchaser could walk, renegotiate or, depending on the inspection clause, the homeowner may have the option to repair. A repair done by an unmotivated homeowner may not be the best repair and may not meet the purchasers' expectations. This has caused more than one deal not to close.
An inspection at the time of listing can also help a Realtor deal with a homeowner who has unrealistic expectations. The inspection report is good for explaining why you can't ask top bucks for a house which is not in top condition. Halfway to closing is no time to find out that you will have to make additional repairs at your expense to get the house closed. Know what you're dealing with ahead of time. Isn’t that desirable?
Peace of mind for the purchaser: There is no doubt that part of the value of a home inspection is a guided tour of the house for the prospective purchaser. We could return to do a walk-through with the purchaser, if requested, and verify that the items identified in the pre-listing inspection has been resolved. It’s that desirable?
Reputable inspection companies: Pre-inspected listings will only have value if the home inspection company is perceived to be reputable, qualified and properly insured. Prospective purchasers will have little or no faith in a report done by someone they perceive to be as untrustworthy.