Here you go Nick. Right from the brokers mouth. I was chatting with a couple of agents and they wnated me to discuss some type of inspection like this.
This is the response…
XXXXX mentioned you have a pre-inspectionprogram for the seller when a house is listed. XXXXX XXXXX has anational program called XXXXXXXXX. We made an attempt a few yearsago to encourage agents to have their listings inspected at the time oflisting, but it didn’t go over so well.
The first thought is that if the sellerbecomes aware of deficiencies that they didn’t know about before, thatnow all of that has to be on a disclosure which can scare away potential buyers. Same thing for agents…if we know about it, we have the responsibility todisclose any adverse facts. It’s less of a liability risk to us asselling agents if we don’t know.
It is sometimes better for the seller towork out any home inspection issues at the time of the home inspection, aftersecuring a buyer. It’s not until the buyer is under contract thathe has any skin in the game and it is often easier to work through repairs then,with the buyer on the hook, provided there aren’t major issues.
I know you know that many of today’s sellers are strapped for cash or even underwater. Not only are theyhaving to sell for less, but they are being asked for more by the buyers. I agree that a pre-inspection is an act of good faith and should prove to thebuyer that the seller has nothing to hide, but it may also produce a list ofitems that the seller simply cannot afford to repair but now has to disclose,which could push the sales price even lower.
So…there you have it, the agentperspective on pre-inspections. There are surely instances where thiswould be a good thing, especially if the seller has equity, if the home is in adecent state of repair, and if the seller isn’t too proud of their houseto start with.
If you have an idea that would help usout, I’m all ears, but I would like to know about it before it issuggested to my agents. I also think it’s fair that you understandwhat their objections may be before you step into a hornet’s nest.