The home inspection is a familiar part of the home buying process.
The buyer hires a professional home inspector during the first few days of the escrow to give the home a complete physical assessment. The results of this assessment will help the buyer to determine if the house is in the condition they expected.
If a buyer finds an unexpected negative condition the buyer can ask for a fix, a credit or they can walk away from the deal. And, at this point, a seller is at a disadvantage; going back on the market might bring a lower net then just giving a credit to the current buyer.
What would happen if the SELLER ordered a home inspection before going on the market?
- Choose an inspector who understands the housing type
- Identify fixes that could be done before maketing the home that could increase salability
- Disclosures are more complete
- Negotiation for repairs happens when the seller is more likely to have a negotiation advantage (upfront)
A buyer would still have the right to hire their own inspector and that inspector might find a few additional items. However, these items should be minor and unlikely to threaten a deal.
As I write this I realize this should be my new standard. A homeowner has much to gain by inspecting their home as a part of getting ready for market.
