Home Inspection Value in a Strong Seller Market
When you list your home in a strong market, you’re looking for a fast sell. A home inspection can feel like a required expense just to move the transaction forward.
But a home inspection delivers valued information that will help you make the best decision not only in pricing your home but negotiating to close the sale.
Your home inspector has an obligation to collect information and report findings in a non-partisan, objective manner. Your home inspector works for you.
Attend the Inspection
If you can, meet the inspector at the time of inspection. You’ll have the opportunity to discuss findings on the spot. Your inspector is a professional. Whatever they discover, they’ll be able to share their expertise and offer ideas for best solutions for a finding.
Asking questions and getting realistic answers is the perk of being there as the inspector reviews your home.
Your Decision-Making Tool
Before you place your house on the market, get a thorough inspection to discover any flaws that may make buyers hesitant. Quality is king. Make your home the best it can be before you list it for sale. Perform repairs to potentially harmful weaknesses to get top dollars.
If time or budget keep you from making repairs, use those known shortcomings as bargaining chips to sell your home. Follow the following recommendations to get the most from your home inspection.
How To Use Your Inspection Report
Your inspector spends several hours going over your home from foundation to roof. During that time, they look for any findings that could impact the soundness and safety of the home.
All the findings are listed in your report.
Because the findings are reported objectively, they help you determine how to respond and act on each finding. Perform any easily fixed and inexpensive repairs to make your home in best condition to sell. Little things won’t get in the way of a sale.
Depending on the cost of more extensive repairs, you may decide to lower your asking price or take on the cost of repairs. Your real estate professional can help you sort through your decisions.
What you have is a legal document stating the current issues on the date of the inspection.
Steps to Take with Your Inspection Report
You contracted with your home inspector for an unbiased report on the current condition of your home. Once you receive your report, use it to your advantage.
- Review with Your Real Estate Professional. Your agent can help you decide what repairs to make or concessions to your asking price. Because of their experience in the market, they will know what current buyers are willing to accept.
- Prioritize Repairs. Set priorities for critical conditions that can impact the soundness and safety of the home. If you have a poor or leaking roof or faulty electrical wiring, get those done first.
- Get Quotes from Contractors. Your home inspector is not qualified to give you repair estimates. Engage recommended specialists so you’ll know how much your major repairs will cost. Engage the right contractor for the type of specialized work required.
- Fix the Small Stuff. A list of multiple issues looks intimidating to a buyer, even if they are small. Address and fix minor repairs so they don’t become an issue when it’s time to negotiate. Get them out of the way and be done.
Your Documentation for the Buyer
Your report is documentation for the buyer. They’ll know the current condition of the home. If you’ve eliminated a number of issues through repair and remediation, you have a stronger position in accepting offers that meet your asking price.
A home inspection report, complete with images and an easily read narrative, tells your buyer that you care about them. You have proof that your home is a sound investment. Indicated repairs can either give you leeway when negotiating, or you can do the repairs and price your home knowing it is the best it can be.
The home inspection shows the buyer you are entering the market in good faith. You will demonstrate the condition of the home to substantiate your asking price.
In today’s seller’s market, you lay the cards on the table, and wait for the best offer.
Be Realistic
Because your inspection is performed in an objective, unbiased manner, you have a realistic idea of the condition of the home.
Make that realism help you by using the findings to make wise decisions.
- You’ll educate yourself about the condition of the house.
- You’ll understand how to evaluate your home for pricing
- You’ll be able to stay true to your price in a negotiation
A home inspection is a valuable tool to help you sell with knowledge and authority. You’ll feel confident in any negotiation. Use your inspection report to sell your home with conviction, knowing you priced your home for value.