More often than not, when buyers make an offer on a property, they include a home inspection contingency in the purchase and sale documents. This allows them to have a professional look over the house to make sure that there are no hidden defects or damage that could affect the integrity or value of the property. It's quite likely that you had one performed before you bought the house you are going to be selling.
When there is a lot of inventory (read: competition) on the market, buyers can afford to have high expectations, and problems that come to light as a result of a home inspection can result in unexpected repair bills, price reductions or even withdrawn offers. One way to avoid these pitfalls is to hire a home inspector to look over your house before you go on the market. This proactive approach can uncover issues that you can address yourself, without the added pressure of renegotiating contracts. Additionally, it keeps you in control of repair costs and allows you to choose who will make the repairs. Furthermore, by making the necessary repairs prior to going on the market you improve the value of the product you are selling.
While the cost of a home inspection can vary (usually in the $200-$400 range) chances are it will pale in comparison to a price reduction that can result from a buyer learning of problems during the contingency period. And by addressing any problems in advance, you greatly reduce the chance of any surprises turning up at a subsequent inspection. Also, you have the option of having your report available for buyers to review, along with documentation that outlines any repairs made or remedies taken, to help further convince the buyers that they have chosen wisely!
Why gamble? If the thought of a buyer's home inspection results has you losing sleep, consider the proactive approach.
The devil you know is better than the devil you don't!
Illustration: Rocco Fazzari
