In this crazy Market, some buyers are doing everything they can to make the best offer possible. In some cases, that means waiving their inspection of the property to sweeten the deal.
Fact is, some buyers feel this is necessary when buying a home. However, you probably wouldn’t buy a car without making sure it was thoroughly checked out…so why would you buy a home without “Kicking the Tires” first?
Have a Pre Inspection Done On Your Home
If you know you’re going in to a multiple offer situation, you tend to look at what concessions you can make to give your offer that fighting chance to catch the attention of the sellers. Very often, the fist concession is to waive your inspection. This gives the seller one less thing to worry about and one less thing to get in the way of the seller doing any more work on the home.
This also means any previous problems with the home are now your problems when the deal closes.
As a home buyer, these are stressful times…but they really don’t have to be! Doing a pre inspection on your home (your potential new home I should say) is not only a smart financial move but it can put to rest any fears of underlying issues the home may have that you don’t or can’t readily see.
Sellers Too Can Benefit from Having a Pre Inspection Done on Your Home –
Even in this market, with homes ‘flying off the shelves’, home owners can still do something to make the real estate transaction go smoothly as well as have written proof the home is in sound condition so the home buyer can’t come back later with a grievance.
The other side of all this is with a pre inspection done on your home, the bank and the appraiser will have a very hard time ‘making waves’ or demanding something be fixed as a condition of the loan prior to closing. You have an inspection report in hand…and that can be a nice insurance policy if and when you need it!
Take the guess work out of all this with these 5 simple reasons why you do a pre inspection on your home
- Know What You’re Actually Going to Pay After you Pay for the House – Pre Inspections help determine any deferred maintenance issues for the buyer. Ideal for those who are going in this deal with limited funds to make repairs after closing.
- Walking Papers – Having a Pre Inspection done on your home gives the buyer a reason to walk away from a potential offer with confidence. If there are too many items to fix or the home is just in rough shape, it’s better to know about it before you commit to a purchase and sale agreement.
- Seller…fix those small items before you go to market – Taking a $100 problem and fixing it keeps the $1,000 problems from ruining your sale. Simply put, don’t give the buyer a reason to say ‘NO’…and they won’t! You may also find more willing buyers who want to make an offer based on your willingness to disclose you’ve had the home pre inspected and willing to let them see the report.
- Buyers…make your offer stronger to the sellers – As I mentioned earlier, the waiving of an inspection contingency is something of a common tactic these days to sweeten the deal. However, doing a pre inspection gives you the confidence knowing what you know about the condition of the home.
- Lastly, pre inspections are a great way to start the transaction on a good note – If a seller or a buyer have full knowledge of what they are getting, there is less confrontation or nasty negotiations later. Not all markets are so smokin’ hot and it’s a very smart idea for the sellers to have this ‘Ace in the whole’ to help in the overall marketing of their home.
I hope this little tid bit of information was and will be helpful for you if you are in the real estate market to buy or sell. And if you, or someone you know, is considering buying or selling, please feel free to give me a call…I’m always honored to work with you!
I am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.
Certified Residential Specialist | Real
Mountain Valley Real Estate