I always recommend the pre-inspection. I don't always get the seller to do it but I always recommend it...
Sometimes it does "cut to the chase" so to speak as when a current inspection is done sometimes the buyer will not feel the need to do his or her own. Another issue is money, occasionally, sometimes the buyer is just not interested in "all the little, hidden costs" and, as such, the pre-inspection is available to assist the buyer in that respect. Yet another consideration is a seller who is committed enough to the entire process (and in this buyer's market we are in every seller needs an edge) will do this to set him or herself above his or her competition.
It also shows a buyer, in my opinion, how much pride the seller has in the investment. A seller who has maintained the property will want to use that as a marketing tool. I also recommend a home warranty system at the time of the listing. I use American Home Shield but there are many. The warranty costs $405 in my market and covers the seller for free for 180 days. It has a minimal deductible for a service call but is well worth its money... At closting, the seller pays the fee and the buyer has one year of coverage....yet, again, another worthy marketing tool to set your client above the competition and make you look like you are the Realtor of choice! Best of luck to you! Hope I answered your question!
Hope this helps!
As a buyer's agent I would still strongly recommend buyer get their own professional inspection as usual-for comparison and adequate assurance of their own due diligence.
I think this is an excellent practice. A thorough inspection with items fixed should reduce the items on the following inspection from a buyer.
I would not do the inspection under the impression that it would make the buyer feel more comfortable. They will most likely see the inspection as biased.
My offer is that I will cover the cost as closing if they will fix the items in the pre-inspection report.
I have seen so many new articles about the positives of home pre -inspections. It may just be the wave of the future. I think it gives the seller somewhat of a competitive edge in negotiations. Certainly they know that the contract won't fall due to an unforeseen repair issue.
I think they're a good idea today. I am attaching a link that you may find of interest http://www.doityourself.com/stry/preinspections
A source you might check in your area for a good home inspector is http://www.bni.com
I am a member of this organization in the Oklahoma City metro area and the code of ethics these members agree to is exceptionally high.
I say they are a good idea. Timothy's idea of Pre-Certified Properties is very interesting. Marketed correctly, it could give you and your company an advantage in your local market.
Social Media Guru at Trulia
I would make a revolutionary suggestion. Take it too another level - Pre- Certified Properties. Include home inspection, title search, and pre-appraisal. Why? Offer closings that can be done with simple updates to these baseline products.
It is amazing to me that we pre-approve our buyers, but wait until we get a contract to "approve" our listings. What would happen if you matched a pre-approved buyer to a pre-certified house? Quicker closings. I have utilized this idea and found closings can happen in less than 7-10 days. I believe if a system was tweeked, you could offer a marketing campaign of "72 Hour Closings".
Good beginning, take it all the way and make it sing!!! Fa La La La La la la la la.......
One thing you can always depend on and that is..."things change". Just about a year ago, I would not have advised one of our listing clients to get a home inspection in advance of any showings. I would only ask that they take care of obvious repairs before any showings....i.e. leaking faucets, fogged double pane windows, etc.
But now that it's a completely different market, I have not only recommended but have had my last three listings in just the last month, to have a complete home inspection and follow through by completing all repairs mentioned in the inspector's report. This is a great selling point and just one more thing to help differentiate your client's home from the homes you may be competing against.
It's a smart thing to do and I plan on suggesting it to all of our listings that we currently are holding as well as these last three.
Don DeBaer Memphis Realtor
Most buyers I have met are fairly savvy and regard the sellers inspection report (in the few cases where on exists) as propaganda or fluff geared to benefit the seller, not an accurate gauge of the home. In this sense, the actual value of the inspection to the buyer is not as great as one might initially think.
Again, as an inspecotr, I would love all Seller's to have an inspection (more business for me) but I can certainly understand those who elect not to, andhave encoutered such opposition to teh idea in general from local Realtors I work with regularly, that I have all but ceased marketing them.
Another reason I get which I also give credence to is that every inspector is different. Some are better than others. Some have different areas of strength than others. So while the seller's inspector may be good, the buyer;s inspector may be excellent (or a former master electrican or HVAC pro) and may identify issues that the seller's inspector quite reasonably did not identify. All of this can leave the seller wondering just what the heck he paid the first inspector for, anyway.
On the flip side, the buyers may opt not to have an inspection or their inspector may not uncover some items that the seller's super thorough inspector did, in which case they seller winds up fixing things or spending money he many not have needed to.
As an inspector, I love doing Pre-Listing inspections and encourage them, but I certainly understand why some folks pass on them.
Specifically relating to turn of the century homes. Here a common thing to identify would be knob and tube wiring, aged cast iton soil lines,and a furncae that is operable but at or near the end of its statistical useful life. Also of these are tremendously expensive to correct, and - if operable - are not things most sellers wish to replace on their dime. So now, the report (and the disclosure) must indicate that there is knob and tube wiring (which without education can scare buyers off), and other potetnially expensive concerns that may hit them in the near future.
I tell continually tell my clients to get a home pre-inspection and I always hear the same thing. â€œWhat, you want me to spend more money?â€ No, I want you to sell your home as quick as possible for the most money possible without spending a lot of money. Having your home inspected tells your probable buyer that you are an honest seller with nothing to hide. It is a fact that most buyers these days will have a home inspection done and should that inspector find anything, even things considered to be â€œminimal or normalâ€ the damage is done. They will ask for some crazy discount to off set the cost or worse not feel good about the investment and move on. An inspection is also helpful when marketing a house. I know of people that went out and remodeled their kitchen for thousands of dollars to get the home ready. The reality was they only needed to spend a few hundred dollars in repairs that an inspector found. With just these things alone, they would have been ready to out shine the competition. Get a home inspection
As always, it's best to DISCLOSE, DISCLOSE, DISCLOSE any and all items with appropriate explanation in the Seller's Property Disclosure. I always recommend certified inspectors, but when it comes to old homes it seems the ASHI certified 'understand' the 'charm' older homes and CABO certified inspectors do well with new home constructions, since that seems to be more 'code' oriented.
Hope this helps!
Keller Williams Atlanta Midtown
May be a better idea to have the seller put the home under a Home Warranty, that way the warranty can be transferred to the buyer. It is good to advertise home is already under Home Warranty too. It seems most buyers are going to ask for a Home Warranty and this way the seller has already taken care of that issue.
I have had this discussion with several agents in my office recently. I agree that having the home pre-inspected will help the seller see if there are any items that they can correct - prior to getting Buyers looking at the home. Plus exactly what you said about giving the Buyer all the information up-front. Since alot of Buyers make low offers to begin with, and then come back for more off after the inspection. Having the inspection report attached to the condition report makes it a much cleaner transaction.
I had one Seller who did it, made all the corrections recommended by the inspector. Now it is much easier to show the property, and it cost the Seller very little compared to what a Buyer may have deducted from an offer or possibly walked away. Even on homes that are 50 yrs old or newer - not a bad idea. Anything that may give your Seller an edge on the competition.