What is a Seller's Home Inspection?
Most of us are familiar with the buyer's home inspection. But what is a seller's inspection, and are there any benefits to it? A seller's inspection is typically paid for by the seller, to find any visible defects or deficiencies BEFORE listing the home. It is performed less often than a buyer's inspection, but one could argue that it is equally important. That's because a seller's inspection can save the seller both time and money, AND make the transaction less stressful. But how? Let's assume you are the seller...A seller's inspection can save you time by speeding up the sale process. That's because you will likely have already addressed any problems with the home BEFORE putting it up for sale. That means less time wasted scrambling to find a contractor, getting multiple estimates, getting a job scheduled, and getting something repaired—all while under contract. Instead, you can repair things on your terms and your timeline, without the pressure of a deadline. Less time, and less stress!
A seller's inspection can save you money in several ways:
- If your house needs any repairs, you will have had plenty of time to get estimates and choose the right contractor (for the right price).
- When the buyer has their own inspection done, there will typically be fewer items in need of repair or replacement. That means they will have fewer reasons to reduce their offer because of some defect that was just discovered. The buyer will have less leverage, and there will usually be less back-and-forth price haggling.
- You are more likely to list your house for the correct price FROM THE START. This is very important, as any real esate agent will tell you. It reduces the chance you'll have to significantly lower the price later, when there is usually less interest in the home.