You're never quite ready for the phone call. It almost always takes you off guard. That, "Are you sitting down?..." phone call that makes you feel like your stomach is falling out. The Buyers want out of the contract after a home inspection. Even though the Sellers are willing to make any and all repairs, the list was just overwhelming and the Buyers want out.
How could this have been avoided? If the Sellers had gotten a home inspection prior to listing the property, all defects would have been known ahead of time and most or all major "deal breakers" could have been repaired, replaced, or corrected prior to putting up the FOR SALE sign.
Now I advise all my Seller clients to get the home inspected before we list the property.
There are many benefits to having your home inspected before listing:
1. Your home could sell faster!
2. Your home could sell for more money!
3. You will be able to share the home inspection report and receipts for repair work completed.
4, All issues have been taken care of ahead of time so you will have nothing to "apologize" for.
5. Now there are no surprises.
6. No more buyers walking away over home inspection results.
7. No reason for buyers to try to renegotiate price based on home inspection findings.
8. The choice of home inspectors is yours. (But choose wisely. Make sure the home inspector has outstanding credentials.
9. Your inspection report can be added as an HTML web page link so that buyers can see the report in advance. They will appreciate your full disclosure.
10. Buyers will see this as a win-win. They still have the right to have an independent home inspection as well, but if you choose someone well known in the community as a top-notch home inspector they may not choose to spend the extra money to have a second opinion inspection.