Competition is fierce in today’s Indianapolis real estate market. Indianapolis REALTORS® will tell you that we are in a buyer’s market, meaning that buyers can really dictate the pricing strategy of a home because there are more sellers than viable buyers.
Reports have revealed lately that the Indiana housing market may be looking up. While home values still seem to be falling across the state, the trend is slowing and experts are seeing this as good indications of a turn around. In addition, REALTORS® are seeing signs of improvement and even home builders are increasing their optimism for future Indianapolis home sales.
When listing Indianapolis homes for sale, it’s critical to have a strategy in today’s market. The asking price you choose for your home is arguably the most important factor. Miss the mark on pricing and you may not even have anyone to view, and subsequently make an offer on, your home.
Aside from pricing, what other strategies can you formulate to sell you home faster than your neighbor? One thing you can do is assure your buyers that they are moving into a low-maintenance home, at least initially. You can give your buyers this comfort by having a home pre-inspection conducted.
Understandably, in a market where you may have a tough time selling your home at all and will possibly need to take a significant hit on price, you may be reluctant to spend another dime on any extras. A home pre-inspection could definitely be considered an extra, but calculated nonetheless.
Especially in situations where owners have lived in their homes for many years, a pre-inspection can be advantageous. Basic home maintenance over the years can miss items that could use repair.
The advantage to having a home pre-inspection conducted is that you are able to identify and correct problems with your home prior to buyers viewing it and making offers. For one thing, this can be presented as a major benefit over a neighbor’s property because a buyer will know you are not trying to hide anything. Of course, the buyer will most likely still choose to have their own inspection performed but having your own inspection completed assures them that you are being proactive in presenting a quality home for a buyer to purchase.
Not only will a pre-inspection give you the opportunity to correct flaws it reveals, it will also lay a foundation for a smoother negotiation process. With consideration of revealing what you have repaired prior to listing, buyers are less likely to find more issues to correct and possibly throw a wrench into the whole transaction. At the very least, a pre-inspection can limit possible negotiation drama.
Inspections can cost approximately $400, give or take what you choose to investigate. From this information, you can better select a price as well, if you choose not to correct a problem that was discovered.
Arguments can be made that you will get a home inspection completed only then to have the buyers conduct their own and find additional problems. This can always be a possibility. Inspections, like any similar procedure completed by humans with differing opinions, is more of an art than a science. No two inspectors will necessarily find the same exact issues. Know going in that your buyer’s inspection can, and likely will, find different information than your inspection will reveal.
Even with such possible downfalls to completing a pre-inspection, if you do have the means for the extra $400 or so, it may save you that and more in the long run for your house to be on the market for fewer days and possibly negotiate a better deal.