Think about getting a home inspection before putting your home on the market

In a typical real estate transaction, it is the buyer who arranges and pays for the home inspection. However, it can be to a seller’s advantage to pay to have an inspection done prior to placing their home on the market. A pre-listing inspection can provide them with valuable information about the condition of their property and an idea of repairs that they may (or may not) wish to have done. This information can help in negotiating the sales price of the home as well as avoid having these repair issues surface down the road at a less opportune time.  

Is there any difference between a pre-listing inspection and a buyer’s inspection?

The only difference is who (seller or buyer) is having the inspection done and the point in time when the inspection occurs. The scope of the inspection, whether done pre-listing or after the sales price and terms have been agreed upon, will essentially be the same focusing primarily on proper functionality of all major systems and components of the house: heating and cooling, electrical, plumbing, roof and structure, siding, doors, and windows.

Typically, how much does it cost for a pre-listing inspection?

The fee is usually the same as the buyer’s inspection, generally ranging from $350 to $500 for a qualified inspector who carries errors and omissions insurance. The price can vary based on location, square footage, age of the home, and any special conditions.

Why should a seller consider doing pre-listing inspection?

Keep in mind that whether a seller has a pre-listing inspection or not, the buyer may still choose to have their own inspection done. What a pre-listing inspection does is give the seller a chance to resolve any repair issues up front that are likely to surface in the buyer’s inspection or have them accounted for in the asking price. This not only places the seller in a better negotiating position but helps minimize the chance of having to deal with circumstances that may come up in the buyer’s inspection that is done after the sales price and terms have been negotiated.

What should the seller do if a pre-listing inspection uncovers major problems?

Generally, it is better to know about inspection issues early rather than to be blindsided at a later date. Once identified, they can be assessed for proper resolution. A seller shouldn’t automatically assume that everything needs to be fixed prior to placing the home on the market. A REALTOR® can advise them as to which repairs are likely to negatively affect the sale of their home.

If you’re looking for more information about buying or selling your home, Three Rivers Association of REALTORS® can help. Visit our website today to learn more and to find one of our members who can help you!

Quick, Easy and Inexpensive Renovations Before Selling a Home

Selling a home can be one of the most stressful times in a homeowner’s life. Your schedule becomes packed with appraisals, home inspections, radon testing and packing away unsightly clutter. While juggling these time-consuming tasks, the thought of adding home renovations to your lengthy to-do list seems out of the question. Fear not, there are renovations that won’t require long timelines, stinky dumpsters, or large price tags. Here are a few simple renovations that can be completed to ensure that your home not only sells, but that your home sells quickly.

Quick & Easy Renovations:

·   Remove family photos or outdated wall art. Spackle nail holes and give rooms a fresh, neutral coat of paint. Bold colors can sometimes be a turnoff for potential homebuyers.

·   Purchase new interior and exterior entryway light fixtures. This is the first area potential homebuyers will see upon entering the home.

·   A beautiful new door or fresh coat of paint will create a stunning entryway for guests.

·   Full bathroom renovations don’t often make a large impact. Save your money, and simply put in new light fixtures, new mirrors, and new vanities.

If you have an outdated home but no time for renovations, consider offering a renovation budget to potential homebuyers. The budget will be a small chunk of the list price and allows buyers to give their new home a personal touch.

In addition to renovations, there are many small changes that can be made to a home that will increase buyer appeal. Make sure that the home is as clean as possible. This may require putting some belongings in a storage unit until the home sells. Landscaping and curb appeal can attract buyers who are simply passing by the home. Consider keeping your lawn cut, watered, and edged. If you don’t have time for gardening, purchasing and hanging flower baskets can do the trick.

When searching for more information on ensuring a successful sale, turn to the professionals at Three Rivers Association of REALTORS®. Three Rivers Association of REALTORS® is a local non-profit real estate service that assists and educates REALTORS® with programs and services. On our website, homebuyers and sellers can find Three Rivers Association of REALTORS® related service affiliates like home appraisers, attorneys, inspectors, and more. For additional information, give us a call at 815-733-4520 or visit our website at www.trarealtors.net.