Can a home inspection affect the sales price of that home you are about to sell? The short answer is yes, it can. But you don’t have to let it.
You can achieve this when you understand what the home inspection is, why buyers want a house to be inspected, what home inspectors look for in the property, and the advantage a home inspection gives to the buyer during the home buying process.
If you are reading this, chances are that you are a homeowner on the verge of selling your home and you are concerned about how much control you have over the eventual sale price of the property. Like every seller, you want to do everything to avoid events that could force you to sell the home below your desired price. And the one event that has the power to do that is the home inspection.
Regardless of whether a seller conducts a prelisting home inspection or not, most homeowners already have a fair idea of the problems that exist with their home. By being honest with buyers and letting them know about the existing problems before the home inspection, sellers help themselves in two ways. Firstly, they build trust with the buyer, and secondly, they give buyers the chance to factor in the cost of fixing the problem when making their offer. This ensures that the buyer has a fair idea of the condition of the home and the home inspection becomes a mere formality.
In conclusion, the main thing buyers want to know when they conduct a home inspection is if the seller's information about their home is complete. The more you know about your home, the less power the home inspection has to lower its sales price. If you want to relieve yourself of the stress of worrying about the home inspection, take control of the situation by knowing more about your property.
What is the home inspection and why do buyers have them?
The home inspection is that part of the home buying process where the structures and systems of a home are meticulously examined by a professional home inspector for any flaws that the seller may have failed to disclose or is unaware of. It involves a thorough examination of all parts of the interior and exterior of the home.
The two reasons that buyers want the home inspection done are trust and maximizing value. As with all financial transactions, there is mutual distrust between homebuyers and sellers. As OmniKey Realty explains, buyers are never sure when sellers are disclosing the full information about the details of a home. Therefore, the buyer seeks the opinion of a neutral third party about the actual condition of the home in order to determine its true value.
Based on the outcome of the inspection - the home inspection report - the buyer can come to the following conclusions about the home:
What can sellers do about this?