Written By: Linda Nelson ~
In today's crazy real estate market with multiple offers and bidding wars it is best to have a professional home inspection performed a few weeks before going on the market for several reasons:
- It allows the seller and their agent to decide what absolutely needs to be addressed. Typically, health and safety items such as rodents in the attic/crawl space, electrical and plumbing issues, roof leaks, rotting wood (exterior), etc. The state of Washington requires all sellers to complete a disclosure form called Form 17. This is where the sellers disclose everything they know about the home. It is 6 pages and addresses everything you can imagine. This form is provided to the buyer's agents before they make an offer.
- When in multiple offer situations we want all contingencies waived. By providing an inspection report the buyers feel comfortable waiving an inspection knowing what the sellers have repaired/corrected and how. I always provide receipts of work completed to the buyer's agents before they write an offer. Now, before this “seller's market” buyers would include an inspection contingency in their offer. This could give them up to ten days to perform an inspection and request repairs. In Washington, the buyer can walk away from the contract any time during that period for any reason and their earnest money would be returned to them. Maybe they found a home they liked better, they could then cancel the contract. Of course, when a home has been “pending inspection” for even a few days and goes back on the market it raises a red flag to potential buyers.
- There are no surprises! The seller has been transparent, and the buyer is aware of what they are getting into. Without the seller proving an inspection report there may be numerous buyers performing pre- inspections before they write an offer. That ties up times for other buyers to view the home.
It is important to keep in mind that not everything called out on the inspection report needs to be addressed or repaired. It varies with every home, and I only provide the report to the buyer's agents after the first showing. That alleviates the chance of buyers ruling it out on their search. Let them fall in love with your home first! Buyers and their agents are always very appreciative to have this information and it sets us apart from the sellers and agents who aren't prepared.
I hope you find this information helpful and please reach out to me with questions. I would love to hear from you!