My client was able to snag a buyer for his home in Schaumburg after the tax credit expired, which was no easy feat.
With my usual downer tone, I warned him that buyers can be brutal on home inspections and to expect the worst. When the inspection letter came, it had only three minor items.
“That’s because I had the home pre-inspected, and did all of the repairs beforehand,” the client said, with Buddha-like serenity.
In reality, very few sellers are going to do pre-inspections. Most sellers think their homes are in perfect shape (not true). And they also think that the buyer will not raise many issues because the seller cut the price so much in negotiations (Also no true.) Here’s a Trulia thread on the pros and cons of preinspections.
My wise client prevented a 30-item inspection letter by doing the pre-inspection and saved himself a lot of agony.
I think that in this market, which has dropped like a stone since the tax credit expired on April 30, it is a very wise move for the seller to pre-inspect his home and make the repairs in the report. Doing so will remove the huge stress-ball (the home inspection) from the closing process.
Related posts: