Should I get inspections done prior to listing my house on the market? Now, in most cases, it’s the buyer’s responsibility to get the inspections. However, when would it be advantageous for a seller to consider having inspections done prior to listing your home on the market? We don’t always recommend this, but here are some examples as to why having inspections done prior to listing is helpful.
It can end up saving you time and money. Hi, I’m Krista Mashore, owner broker of Homes by Krista. As a seller, you want to be aware of the condition of your property and we don’t want to have any unexpected costs to come up that you weren’t aware of. We’ve seen termite inspections well over $50,000. Imagine getting a termite bill for $50,000, and the only way the buyer will actually close on the home is if the items are fixed or paid for. Now, think about it. What if you’ve already purchased another home and you need all the money, that $50,000 to qualify for your next home? This would create a huge problem for you in your purchase.
Let’s just say you found out that the home you’re selling, you needed a new roof or an air conditioning unit that had to be replaced. You can do a few things. You could sell the home as is and disclose the issue, not sell at all, or you can take what needs to be done and get it fixed. The idea of getting inspections done prior to going on the market, it’s so that there’s nothing that comes up that’s unexpected. There’s no unexpected surprises that could financially hurt you later. We want you as the seller to be aware of any additional expenses that could possibly arise from the sale of your home.
The inspections we recommend are standard customer inspections that a buyer would normally do. We recommend a home inspection, a roof inspection, and a termite inspection if we think your home needs it. In most cases, you have the option to pay for these up front or when escrow closes. In regards to home inspection and termite inspection, it’s helpful but not mandatory to make sure all the health and safety items have been fixed, as well as any section one work which includes dry rot, leaks, and of course termites. These are very common requests that buyers have.
Knowing about these issues helps a seller because they have much more assurance that they’re actually going to close on the home and what they’re going to truly net when they’re going into escrow. It gives them peace of mind that the buyer won’t ask for any unreasonable or outlandish repairs that truly don’t exist. It also cuts down on inspection time frames. Having inspections done prior also protects the seller if they have a replacement property to purchase and need every single penny out of the sale of their home to secure the close on their new purchase.
It also helps the buyer, because they’re more confident they’re buying a sound home that’s move in ready condition. Also, if there’s bank financing on the property, some loan programs require all health and safety issues as well as section one termite work to be completed prior to closing escrow. With all that already being completed and done, you have further assurance that the loan will actually go through. To wrap it up, the seller, the buyer, and the lender have more confidence that the entire transaction of the home is actually going to close. It keeps everyone safe during and after the close of escrow, and you’re assured that nothing unexpected is going to come up.