Saturday, March 6, 2010

Inspect in Advance Before Listing Your House for Sale

Are you going to be selling your house? Eliminate surprises and hurdles during escrow by ordering home seller reports when first listing your property on the market. Real estate agents usually recommend ordering an appraisal, a pest control inspection, and a home building inspection before listing. Doing inspections before a buyer makes an offer helps to eliminate surprises. Being prepared helps guarantee a faster, smoother closing and helps the seller feel secure during escrow.

Listed below are the advantages of ordering each type of report in advance of listing your home for sale.

1. Appraisal

· Price your property correctly at the very beginning, when most qualified buyers are viewing it.

· Help buyers see the value of your property.

· Demonstrate a better value in the market.

· Increase showings of your property.

· Give you and your agent confidence.

· Other agents are eager to show your property.

· More likely to get full price offer.

· Reduce surprises and pricing problems in escrow.

· Stimulate buyer confidence.

Once in escrow, if the appraisal comes in low, the buyer will likely cancel the sale. This may happen in a market that is changing quickly, either rapidly increasing or decreasing.

Note: the appraisal value does not need to be revealed to buyers unless it is to your advantage.

2. Pest Control Inspection

· Buyers know exactly the condition of the property.

· Help seller disclose material defects in writing, limiting liability.

· Seller knows the cost of repairs in advance.

· Repairs can be completed early, reduce surprises (work needed) during escrow.

· Won't delay the close of escrow trying to get work scheduled/completed

3. Home building Inspection

· Buyers know exactly the condition of the property.

· Help seller disclose material defects in writing, limiting liability.

· Seller knows the cost of repairs in advance.

· Repair can be completed early, reduces surprises (work needed) during escrow.

· Often get a higher offer price, because it eliminates the unknown (cost of repairs)

There are other inspections your real estate agent may recommend, such as septic tank, water/well, fireplace, roof, foundation, or engineering.

These reports are well worth their cost, saving both money and stress! Yes it may cost you, the home seller, a little more up front, but it's definitely worth the small investment.

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