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- The Buyer will be more confident in the purchase (almost like they are when purchasing new construction), in that there won’t be surprises. You aren’t giving them a 1 year warranty so the lack of trust is somewhat justified. By saying that you want to make sure there are no problems and went to the expense to do a pre-inspection flips the level of trust to an asset.
- The Initial offer price probably comes in higher due to the Buyer not feeling they need more cushion on the Buy side. When a Buyer makes their offer, they oftentimes don’t go as high as they can because in the back of their mind they are leaving some money aside in case there are repairs. A pre-inspection and fixing up the warts gets rid of the that holdback.
- Minimize the risk of having a laundry list of items that causes the deal to fall apart or a big reduction to occur. You might as well find out the uglies now because they will be found out later on. It’s silly to go through months of showings, get your home under contract and then have the deal fall apart because the Buyer had a change of heart. If you find out now you can prevent the Buyer from having second thoughts and then you having to put it back on the market.
- Fix things up cheaper at your contractor’s choosing instead of being forced to deal with their contractor’s quote.
- You will have to do it anyways. The Buyer is going to ask you for a credit or cancel. So, if you have termites you are either going to have to fix it after the inspection takes place or worse yet, take care of it when the Buyer cancels.
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