Tuesday, February 2, 2010

Pre-Listing Home Inspections

One of the things that Realtors, including myself, recommend to sellers is to have a home inspection prior to putting their home on the market. While this does cost a few hundred dollars, it has several benefits.

1) You decrease the likelihood of liability for undisclosed defects that might be discovered after the close of escrow.
2) You demonstrate an uncompromised willingness to disclose everything about the property.
3) You provide the basis for an as-is sale by disclosing all known defects at the outset of the transaction.
4) You avoid the need to renegotiate the terms of the deal after the buyers hire their own inspector.
5) You have the opportunity to know the issues, and have them fixed without being in a time crunch.

While many sellers balk at the idea of paying an extra fee upfront, it can save money in the long run. There is time to negotiate with contractors and find the best bid, and if the repairs are significant, the listed price might even be higher than you and your Realtor originally thought.

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