Los Angeles is a place for dreamers, limitless possibilities, and an endless supply of creative expression. It’s an exciting place with so much going on you’ll never run out of things to explore.
Many distinctive neighborhoods offer something new and exciting, depending on what you’re searching for. Spots like Beverly Hills and Bel Air offer a luxurious and high-end vibe. If you’re selling LA real estate, you could attract a buyer willing to pay top dollar. If you want to know whether you need a pre-listing inspection, you’re not alone.
Buyers and sellers often have questions when dealing with real estate, and knowing whether to get a home inspection before selling is one of them. Are there special benefits to having a pre-listing inspection done? Do you have to have one to sell your home? Let’s start with learning about pre-listing inspections and what they mean.
The pre-listing inspection defined
A pre-listing inspection is when a seller has a professional inspect their home prior to selling. What this does is help the seller assess the property’s condition and identify any issues that need to be addressed. A pre-listing inspection also gives the seller ample time to fix any potential problems before a buyer can become aware of them.
Pre-listing assessments can be in-depth or limited to specific concerns. For example, a crack in the foundation could be problematic, so you might want your inspection to focus on that. Other areas to consider covering are the presence of hazardous materials like lead paint, the lifespan of the roof, and water quality. Let’s further discuss the pros and cons of having a pre-listing inspection.
Pros of having a pre-listing inspection done
You’ll learn about your home’s condition
It’s common for sellers to worry about home inspections and what they may uncover, especially if it could potentially ruin the sale. This is a justified feeling since having a home under contract return to the market is unpleasant at best. As a seller, a pre-listing inspection gives you an opportunity to avoid any potential issues that would arise during a buyer’s inspection. Not only will you learn the exact condition of your home, but you’ll be able to fix things accordingly.
You’ll reduce your stress
The process of selling a home is stressful enough, but worrying about whether your sale might fall through because of something out of your control can make things worse. A pre-listing inspection can help reduce your stress by letting you know whether any repairs are necessary. You’ll feel more confident in your home’s condition and spend less time worrying.
You’ll have time to make repairs
If you choose not to make any repairs before listing your home and the buyer uncovers them during their inspection, you’ll have limited time to complete things. Having a reduced timeline can put a seller under unnecessary stress and create issues. A pre-listing inspection gives you the tools necessary to schedule repairs and eliminate the rush.
You’ll be able to set an accurate price
One of the most critical parts of listing your home is setting an accurate price. It takes time and experience to find the sweet spot. Anything too high will drive buyers to stay away. Anything too low and you will miss out on money from the sale. While having an experienced real estate professional is the best way to price your home, knowing the condition of the home will make it that much easier. A pre-listing inspection gives you all the facts necessary to make accurate assessments.
Cons of having a pre-listing inspection done
You’ll have to pay for the inspection
Inspections are not free, and having a pre-listing inspection will not negate the buyer from doing an inspection. When the buyer orders the inspection, you will not have to pay for it. While it might seem unnecessary to spend extra money, it is arguably worth it for the benefits alone. Choosing to inspect for additional items like radon in the air and water, lead paint, or mold in the home will likely be an additional fee.
You will have to disclose major issues
Depending on where you’re selling the home, you may be legally required to disclose issues uncovered during an inspection. In California, it’s illegal to withhold any problems that affect the home’s value. Whether you consider this a disadvantage or not depends entirely on you as the seller. If you have the money to make immediate repairs, disclosure shouldn’t be an issue. It can make the situation more challenging if your money is tied up and you cannot make quick repairs, though.
No two inspections are the same
A potential buyer will conduct their own inspection using a home inspector they have chosen. In very few circumstances, the person you hire to complete the pre-listing inspection will not be the same as the buyer’s inspector. Every inspector brings various issues to light, which can differ depending on how thorough they are. In this case, you might have to make additional repairs that your pre-listing inspection didn’t diagnose.
Major takeaways
Having a pre-listing inspection holds many pros and cons, and deciding whether it’s best for you is a singular decision. For many sellers, a pre-listing inspection is beneficial in allowing them to get a head start on repairs and reduces the amount of stress they’re under. While this does require some investment before selling the home, it also allows for more time to complete the jobs and set an accurate price.
Some sellers will need more capital up front to make immediate repairs or attempt to keep issues from potential buyers. While these situations can become complicated, it’s easy to see how pre-listing inspections offer far more benefits. It’s worth the time to at least look into having an inspection and seeing how well it benefits you.
Work with a trusted real estate professional
When you’re ready to list your Beverly Hills real estate and want to learn more about pre-listing inspections, contact Peter and Cindy Lorimer. Together, their experience and determination will make your journey simple and efficient.
*Header photo courtesy of Shutterstock
