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Inspect before you list

 

The sale of your home is one of the biggest transactions most of you will make and the outcome can have a huge impact on your financial wellbeing. Problems with your home can significantly drive down the price, so wouldn’t it be better to find and fix the problem BEFORE you list your house?

A presale inspection can save you thousands of dollars in lost asking price while only costing a few hundred dollars to conduct. A home inspector will help you unearth pre-existing conditions, allowing you to resolve them before buyers set foot in the door.

A presale inspection will also allow you to have a smooth transaction once a buyer is located. Remember, a $500 issue could result in a larger credit requested from the buyer. The average buyer will not know what a true amount will be to repair the issue and will ask for more just in case. Oftentimes, you’ll be able to complete the repair at a lower price.

Another dimension to having a home inspection conducted is the unknown. I cannot tell you how many deals fall apart because of it. They don’t fall apart because the sellers don’t want to repair the problem, but because the issue scares the buyers away even though it can be repaired correctly and quickly. Many times the issue is not a big deal but to a first-time homebuyer it can be.

Potential buyers aren’t the parties you need to impress.

Many towns require they’re building departments to inspect a property for health and safely concerns before allowing the transfer of the property to take place. Contact your local city hall for more information on that issue.

Lending might also be an issue. Ask a qualified lender what the FHA requires in terms of the condition of the property before they approve a loan.

How many homes are for sale in your area right now? You can give yourself the edge by making all necessary repairs in advance and then informing all potential buyer through your broker about the additional money you’ve invested in your home.

Making and then showcasing those repairs could give your the edge when a buyer is deciding between your home and the one on the next block.

To contact me, call 847-292-4700, email gz@zerillorealty.com or visit www.zerillorealty.com.

About Giuseppe Zerillo

Giuseppe Zerillo is the managing broker and owner of Zerillo Realty Inc. He is active on many boards, serving as sergeant-at-arms for the village of Harwood Heights and corporate secretary for Casa Italia. In 2011, he received the IANU Foundation's 2011 David Award for outstanding promise in the field of real estate, and in 2012 he was honored by the Illinois State Crime Commission for his community outreach. Constantly seeking opportunities to give back, he donates to several charities and raises money for children with disabilities.

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