Malibu is most notable for its pristine beaches, breathtaking views, and gorgeous cliffside homes. It’s also a vibrant small town with a rich history that extends back to the 1920s when Malibu’s ocean breaks welcomed some of the earliest surfers to the area. Today, the neighborhood continues to evolve, welcoming new shops, boutique hotels, and restaurants that add to its charm.
embodies the perfect fusion of coastal bliss and a close-knit community, offering an unparalleled coastal lifestyle. This enchanting neighborhood offers some of California's most idyllic coastline, upscale retail experiences, and delectable seafood options. The Malibu real estate market features beachfront oases boasting panoramic ocean views and expansive floor plans. If you are in the market to sell your Malibu real estate, there are some things to consider, like pre-listing inspections. If you want to know whether you need a pre-listing inspection, you’re not alone.
Buyers and sellers often have questions when dealing with real estate, and knowing whether to get a home inspection before selling is one of them. Are there unique benefits to having a pre-listing inspection done? Do you have to have one to sell your home? Let’s start with learning about pre-listing inspections and what they mean.
What is a pre-listing inspection?
A pre-listing inspection is when a seller has a professional inspect their home before selling. What this does is help the seller assess the property’s condition and address any potential issues found. A pre-listing inspection will also provide ample time to fix potential problems before buyers become aware.
These inspections can be limited to specific concerns, like a crack in the foundation, or be in-depth. Other areas to consider covering are the presence of hazardous materials like lead paint, the lifespan of the roof, and water quality. Let’s further discuss the pros and cons of having a pre-listing inspection.
Pros of having a pre-listing inspection done
You’ll gain insight into your home’s condition
Worrying about what a home inspection might uncover is common, especially if it could ruin the sale. Feeling this way is justified since having your home return to the market after being under contract is unpleasant at best. As the seller, a pre-listing inspection helps you avoid any possible issues during a buyer’s inspection. You’ll learn the exact condition of your home and be able to fix things accordingly.
You’ll reduce your stress
The process of selling a home is complex and stressful enough, but the added pressure of worrying about whether your sale might fall through because of something out of your control can make things worse. A pre-listing inspection can help reduce stress by informing you whether any repairs are necessary. You’ll also feel more confident in your home’s condition and spend less time worrying.
You’ll have time to address potential issues
If you wait until a buyer uncovers issues during a buyer inspection, you’ll have limited time to complete repairs. A shortened timeline to complete these tasks can add unnecessary stress and cause problems. A pre-listing inspection gives you the tools necessary to schedule repairs and eliminate the rush.
You’ll be able to set an accurate price
Setting an accurate listing price is one of the most critical parts of listing your home. It takes experience and time to find a sweet spot. If you price it too high, it will drive buyers away. Anything too low, and you risk losing money on the sale. While having an experienced real estate professional
is the best way to price your home, knowing its condition will make it much more manageable. A pre-listing inspection gives you all the facts necessary to make accurate assessments.
Cons of having a pre-listing inspection done
You’ll have to pay for the inspection
There is a cost associated with an inspection, and opting for a pre-listing inspection doesn't exempt the buyer from conducting their own, which you won't be responsible for. Although it may appear unnecessary to spend extra money, the advantages alone make it worthwhile. Remember that examining for additional elements such as radon in the air and water, lead paint, or mold in the house may involve an additional charge.
You will have to disclose significant issues
The obligation to disclose inspection findings varies based on the location of the home sale. In California, it is against the law to withhold any problems that impact the property's value. Whether you view this as a disadvantage primarily relies on your position as the seller. If you have the financial resources to address repairs promptly, disclosure should be acceptable. However, if your funds are tied up and you cannot make quick repairs, it can create a more challenging situation.
No two inspections are the same
The buyer will typically hire their own home inspector to conduct an inspection. There is a significant chance the person you hire for the pre-listing inspection differs from the buyer's inspector. No two inspections will be the same, and each inspector can reveal different issues based on how thoroughly they work. Consequently, you might be required to make additional repairs not identified in your pre-listing inspection.
The decision to have a pre-listing inspection comes with its own advantages and disadvantages, and determining its suitability is a personal choice. For many sellers, a pre-listing inspection proves beneficial as it enables them to address repairs in advance and reduces their overall stress. Although it requires an initial investment before selling the home, it provides extra time to complete necessary tasks and accurately determine the listing price.
Certain sellers may require more upfront capital to address repairs immediately or to prevent issues from deterring potential buyers. While such situations can be complex, the benefits offered by pre-listing inspections are evident. Exploring the option of having an inspection and assessing its advantages for your circumstances is worthwhile.
Work with a trusted real estate professional
When you’re ready to list your Malibu real estate or learn more about pre-listing inspections, contact Mark Gruskin
. Mark is a top-producing agent with expertise and a background in law, making him the perfect choice to help with your sale.
*Header photo courtesy of Shutterstock