When working with sellers, one of the things we advise is to get a home inspection done before getting the home on the market. Now, typically this is a cost that a buyer would incur during a home sale transaction, but there are several reasons why a seller would want to do this.
During a home inspection a licensed home inspector will meticulously check out the entire home from foundation to roof. They provide a report, typically next day, with complete recommended repair items with thorough pictures and descriptions. These reports are usually broken into three categories: health and life safety, significant repairs, and recommended repairs. By getting the home inspection before you get it on the market it allows home buyers to be at ease, knowing that they are getting a well maintained property, and that the seller is going above and beyond to disclose everything about the house. I've had buyers select a home because of the inspection and it even made for a faster closing. Below are the reasons why having a home inspection performed before you get it on the market is a great idea.
Reason #1- Puts the buyers at ease.
Having a complete home inspection to provide prospective buyers puts them at ease, especially if you are able to do some of the recommended repairs. It lets the buyers know that you are disclosing everything possible and sometimes it even makes for a quicker closing. Buyers appreciate a direct and honest seller and when it comes to a person's home they want to make sure they are getting quality and that it is well maintained.
Reason #2 - Gives sellers advance notice of needed repairs
At times, home purchases have fallen apart over details that were found during the inspection of the home. Sometimes those repairs end up extending closing by several weeks or even months depending on the severity of the mends. These things could be from foundation, plumbing, roof, and various other issues. Most of the time the homeowner isn't even aware of these issues, so by having the home inspected before it hits the market allows the owner to mitigate the problem early.
Reason #3 - Pricing
The pricing of a home is based on recent comparable homes sales in close proximity to the subject property. Things like updates and upgrades can help bring more value to the home, especially if the recent comparable home sales didn't have those. However, maintenance items don't typically bring added value to the home, they are expected, but can bring less value if not done. You can't sell a car for more because you performed regular oil changes, but you can get less if you didn't.
If the inspection points out several missed maintenance items that may be larger issues in the future you may want to consider those in the pricing of the home, especially if the homeowners can't afford to fix the issues themselves.
All said and done, home inspections can be a great tool for the seller to market their home, put buyers at ease and confidently sell their home. Here in Anchorage, Alaska, home inspections average about $400 - $500 for a quality single family home inspection and is a small price for the amount of value it can provide to both the seller and the buyer.
If you have any questions about this article or any other real estate subjects, reach out to me at matthew@precisionhomegroup.com
Precision Home Group is based in Anchorage, and provides real estate services to Southcentral Alaska. We will keep you informed on current trends and market dynamics to help you make the best informed decision. If you are interested in purchasing a home, get in touch with our experienced real estate agents! Our team of experts will negotiate great deals for your home and help you navigate the buying or selling process every step of the way. If you are looking to get into a property that makes sense, or need help analyzing a potential property, reach out at 907-302-1011 or email at matthew@precisionhomegroup.com.
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