What is a pre-inspection and is it necessary?
A pre-inspection is a general home inspection by a reputable home inspector prior to putting it on the market.
In my market, it will cost around $300-$400 depending on the size of the home. I think it’s a good idea in many cases, primarily on homes more than 10 years old. Most problem items found in an inspection are surprises to the seller.
Having a home inspection up front gives a seller the opportunity to address issues in advance, minimizing the risk of fall through during the inspection period. It may also expose defects that the seller is required to disclose in advance on the Seller’s Disclosure Statement, minimizing the risk of a conflict with the buyer later.
Your agent will know whether these are wise or wasteful in your situation, so seek good advice.
The short answer is, usually, no. The appraisal is a buyer’s expense and ordered by the buyer’s lender. The appraisal furnished by the seller will not be acceptable by the Buyer’s lender, as they must order their own per conventional guidelines.
Additionally and equally important, the market can change in a very short period of time, and the current value may be more or less.
The only time I would recommend an appraisal in advance is if the property is not typical for the neighborhood. For example:
- The home is either much larger or smaller than any other home in a square
- The home is located in an rural neighborhood where all the homes are different
- The home is located on acreage, offering more or less land than homes in the surrounding area.
Knowing in advance how the appraiser is going to adjust (up or down) for these unique features may be helpful. A good agent will be able to guide you as to whether the cost of a pre-appraisal is wise or wasteful, so seek wise good advice.
Have questions about pre-inspections or pre-appraisals?
Just fill out the form below, and we'll get right back to you. Don't want to fill out a form? You can go ahead and click here to send us an email instead.