A pre-listing home inspection can cost anywhere between $200 and $700, causing many sellers to forego them. If a buyer wants or needs to have an inspection done before closing, let him or her foot the bill, right?
While you can let the buyer pay for an inspection, doing so may cost you more than the money you saved by not getting an inspection of your own. This is for several reasons.
For one, buyers tend to over-estimate the cost of repairs. Unless the buyer agrees to let you make the repairs yourself, you stand to lose far more money than had you discovered and fixed the issues before putting the house on the market.
Two, buyers may request that they choose the contractor. The chosen contractor is likely to be over-qualified and cost far more than one you would have selected.
Finally, homes that hadn’t been pre-inspected tend to sit on the market for far longer than those that had, as they often involve numerous inspections and lengthy negotiations.
The moral of the story: A pre-listing inspection often results in monetary savings.
