Should Buyers Get One?
I recently had a client looking for a home in a very competitive neighborhood in D.C. Home in the neighborhood and their price range were getting on average over five offers. My clients found their dream home and knew their competition would be fierce. They asked me how to put themselves in the best possible position to get their home. While price is always the biggest factor, it is not the only one. We had prepared so they would be in the best possible position for this moment. They had already sold their previous home. They were fully approved with a reputable lender. Since it was an older home, however, they were concerned with moving forward without a home inspection. However, they knew a home inspection contingency would make their offer weaker in the eyes of the seller.
We had a very good home inspector lined up and ready. Two days before offers were due my clients were able to conduct a home inspection. While the home was not perfect (no home ever is), the inspection removed a lot of their concerns and allowed them to write a non-contingent offer. The result was my clients were able to get their dream home.
Should Sellers Allow It?
The question has come up recently if it is a good idea for sellers to allow pre-offer home inspections. The answer to this question is that if you do not want a completely non-contingent offer, do not allow a pre-offer home inspection. If you do want a completely non-contingent offer, why not give potential buyers the ability to remove all doubt in their mind and allow them to write the strongest offer possible.
There are some old school agents deeply against pre-offer home inspections. If you are thinking about listing your home ask your agent their preference on this and see if they prefer clinging to old and worn methods or using innovative strategies designed to get you the best results.
FOR A FREE REPORT ON HOW TO HANDLE HOME INSPECTIONS AS A BUYER OR SELLER CALL EMAIL [email protected] OR CALL 571-969-7653.