Homeowners put their property up for sale with the hope of making more money than they’ve put in. But as most of us know, that doesn’t always happen.
There are many reasons why this would be the case. Some, like the current state of the market, are beyond your control. When it comes to those that you can control, taking action can push the odds in your favor.
Take a pre-listing inspection, for example. By taking the time to find out the exact condition of your property, you can avoid any surprises that can lower its value.
Make Time Your Ally
When selling any piece of property, there are a hundred things that you need to think about. It may not have any history of problems, but that doesn’t mean there aren’t any issues that a buyer will pick up on. A deal can easily fall through just because the seller isn’t aware of the real condition of their property, no matter how minor an issue may be.
A pre-listing inspection doesn’t just identify potential problems. It also buys you time to get those problems fixed. You can look around for contractors who can repair your property without worrying about a looming deadline. Because of that, you can focus on getting the best quality and the best price for the work you need to have done.
Receive Higher Offers
Fixer uppers are a tough sell. If someone is paying hundreds of thousands of dollars, they don’t want to be shelling out even more money for repairs. Even if they paid a fair price, that just makes it feel like a bad deal.
What does entice potential buyers is getting more than their money’s worth. Any issue you discover is an opportunity to make the property more valuable.For example, if you need to replace old electrical wiring, it can be a substantial enough change for it to be considered an upgrade.
You can get better offers just for doing what you would’ve had to do anyway.
Enjoy a Smoother Transaction
Whether you’re a seller or a buyer, there’s one thing the two sides have in common: both want to walk away with a good deal.
It’s rare for buyers to purchase a property on the spot. What usually happens is they have their own inspectors take a look to help them determine how much it’s worth. Any defects found can lower the amount they’re willing to pay. If it’s too far off from what the seller has in mind, then you’re unlikely to reach an agreement.
A pre-listing inspection can help make the selling process as smooth as possible. At the very least, you’ll be the first to know of any issues instead of having them pointed out to you when you’re already so close to a deal.
Selling a property can definitely be rewarding but it can also be quite stressful. There’s so much involved and until the contracts have been signed, nothing’s final. Until you get to that point, the stress just builds up – and stress can lead to bad decisions.
If a buyer finds an issue before finalizing the sale, you’ll be in a bind. You may end up overpaying for rushed repairs or accepting an offer that’s lower than what you would’ve wanted.
Through a pre-listing inspection, you can address any issue when the stress is still at its lowest. You’ll have enough time to shop for repairs and make decisions with a clear head.
Take Control of the Sale
Knowledge is power. If you know everything there is to know about the property, there’s almost nothing that can be leveraged against you when it’s time to negotiate.
Again, both sides simply want a good deal. Make sure you’re in the driver’s seat and you’ll get the best possible return on your investment.