Get home inspected before selling

The idea of having your home inspected before it goes on the market for sale is not new. But it is an idea that has gained momentum as buyers have become more and more picky. And today, anything a seller can do to make the buyer more comfortable is considered worthwhile.

Here’s how it works:

A prospective seller talks to several real estate agents, seeking guidance on marketing strategies and pricing. As part of their advice, all three agents remind the seller that any buyer in today’s market will definitely have the house inspected, usually within seven days after a contract has been signed.

One of the agents recommends that the seller pay for a comprehensive home inspection before placing the home on the market. There are two reasons for doing this:

1. Negative findings revealed by this advance inspection will almost certainly be disclosed by the buyer’s inspection after a contract is signed.

By learning about potential problems now, the seller can either repair the problem now or get detailed estimates of repair costs so that buyers are not surprised at the problems that may face in the future.

2. The fact that the seller has already paid for a professional home inspection may give a prospective buyer a greater comfort level in making an offer on the house.

But there is another benefit that a seller may experience by shelling out $200 or $300 to get a professional review of the home’s condition. By presenting the buyer with a copy of a recent inspection, the seller has gone a long way toward meeting his legal responsibility to disclose any known defects or conditions at the premises.

Lawyers tell me that an inspector’s discussion of a damp basement or a leaky roof serves the purpose of putting buyers on notice for those specific defects. Thus a future lawsuit seeking damages would likely be much more difficult for a buyer to win.

My advice is for sellers to have your inspection photocopied, then handed out to each prospect. Your inspection won’t prevent the buyer from having his own inspection, but it may hold your deal together by preventing painful surprises after the contract is signed.

John Adams is a broker and investor. For more real estate information or to make a comment, visit Money 99. Find previous articles by John Adams and more home buying advice on the ajchomefinder mortgage center.