Page 42 - Flathead Beacon // 8.31.16

KELLEY’S MARKET TRENDS 44 FLOOR SPACE 45 Real Estate
WE hen is the Best Time to do a Home Inspection?
VERY HOME BUYER KNOWS HIR- have come up at all. All in all, I think it’s ing a home inspector to check out a waste of time and money.”
a property before closing is a good In other words, even if you spring for
idea. In fact, a home inspection is often a requirement for a mortgage. The trick- ier question is this: Should home sellers also hire a home inspector to conduct a pre-inspection? That’s where you have an inspector scrutinize your property for problems before it’s even listed.
Is a pre-inspection worthwhile? Let’s take a look at the pros and cons.
Pro: A Pre-Inspection Means Fewer Surprises
Regardless of who’s doing the hiring, a certi ed home inspector evaluates about 1,600 items that make up the property’s foundation, structure, electrical, plumb- ing, and HVAC systems. The purpose is to uncover hidden and potentially expen- sive problems that could a ect the value of the home.
For buyers, the results of a home inspection contingency in a sales con- tract can empower them to request repairs, reopen price negotiations, or abandon the deal without forfeiting their earnest money.
For sellers, the bene ts of a pre-in- spection are less clear-cut. At the very least, it o ers some peace of mind: Iden- tifying problems, or lack thereof, can soften the suspense of waiting to hear back from the buyer’s home inspector about possibly pricey repairs that might be deemed necessary.
Con: A Pre-Inspection Costs Money
Still, only 10 percent of home inspec- tors are hired by sellers, says Claude
SHUTTERSTOCK.COM
McGavic, executive director of the National Association of Home Inspec- tors. And one reason for this may be sim- ply money.
On average, a home inspection will cost about $200 to $500. Because pre-in- spections aren’t required, that’s cash you could put toward other things such as home improvements or repairs that you know will help sell your home.
Pro: A Pre-Inspection Gives You Time to Fix Problems
However, pre-inspections give sellers the ability to x problems ahead of time— and present buyers with a clean bill of health on the property.
“If the seller knows what an inspector
thinks is wrong with the house, they can x it before the buyer’s inspector shows up,” says McGavic. This also presents a strong rst impression to buyers, who may see your house in a more positive light and boost their o er.
Con: A Pre-Inspection Doesn’t Mean You’re in the Clear
Just because you hired a home inspec- tor doesn’t mean the buyers won’t hire their own—and their results won’t nec- essarily be the same.
“If you had 10 di erent inspectors out to the home, you would very likely get 10 completely di erent reports,” says Atlanta real estate agent Bill Golden. “Some of the issues that the seller addressed may not
a pre-inspection and address the issues that come up, the buyer’s inspector might have overlooked those problems—instead identifying new problems that require more repairs. And because buyers will typically trust their inspector more than yours, they may demand that these other issues get xed, too.
Con: A Pre-Inspection Could Obligate You to Disclose these Problems
Another downside to pre-inspections is that once home sellers are aware of a problem, they may be required by law to disclose them to buyers. These laws vary by state, so ask your listing agent for more speci cs. Generally, bad history – ooding, sewage backups – must be disclosed if you know about it. And because this could per- haps scare o buyers or complicate nego- tiations, it’s no wonder that some sellers may prefer to stay blissfully ignorant.
“Not that you want to hide anything,” Golden says, “but you may be shining a light on things that may not have ever become issues if you hadn’t hired an inspector. It creates mountains out of molehills and prolongs the process.”
That said, McGavic thinks a seller has a “moral if not legal” obligation “to nd out if there’s anything wrong with their house.”
In other words, it might be the right thing to do. So, is a pre-inspection right for you? There is no right or wrong answer, so it pretty much boils down to whether you prefer to nip potential problems in the bud, or wait and see if they develop.
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AUGUST 31, 2016 // FLATHEADBEACON.COM
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