HOME SELLERS WIN
Home sellers in the past did not want a home inspection that Might point out defects, especially if the buyer was not likely to get a home inspection. However, this has changed now that most buyers get an inspection. The buyer’s home inspection often results in a problem when the buyer realizes the home is not perfect after having already negotiated the purchase price. This leads to difficult re-negotiations or transactions falling apart altogether. A seller’s report allows buyers to make an informed decision and the negotiation can move forward smoothly. Home inspection has come a long way since its introduction in the 1970s. It is now part of most real estate transactions. Professional home inspectors have helped millions of homebuyers make informed decisions to protect their investment. Homes are a key asset for many families. However, homes are complex and expensive to maintain. A professional home inspection and report provides critical information to keep the home functional. Home inspectors already provide high quality services built around meaningful education and experience. Homebuyers have historically engaged home inspectors through a conditional offer. More and more sellers provide a inspection report for prospective buyers. The logic is compelling for all parties.
REAL ESTATE SALES PROFESSIONALS WIN
Real estate professionals who recognize the benefit for both parties and appreciate the speed and simplicity of the transaction have embraced pre-listing inspections. There are fewer issues and all parties are more comfortable when the property condition is known
Mortgage lenders are concerned about homebuyers’ abilities to make payments and maintain their home in the face of small down payments, payments, large personal debt and an uncertain economic environment. Lenders appreciate knowing that buyers are well informed. Knowing that the roof needs to be replaced in the next year, the buyer can budget accordingly, rather than having a surprise $10,000 expense. It helps everyone when buyers can do financial planning for the first years of home ownership.
Home insurance companies benefit when homeowners understand their homes and take care of them. An ounce of prevention is worth a pound of cure. The inspection report provides information to help prevent sudden unforeseen expenses.
WHAT HAS CHANGED?
Before home inspections were popular, sellers didn’t have a strong incentive to disclose the condition of their property. Home inspections are now an integral part of real estate transactions. Buyers need to learn about the home they are purchasing. The inspection should move to the beginning of the process, where it belongs. A pre-listing inspection creates a win for all parties. The time is right and the logic is undeniable for pre-listing home inspections.