Buying a Home: The Pre-Inspection
A pre-inspection simply means you send an inspector out to the house before making your offer. If the inspection turns up anything you don’t like, you don’t have to make your offer at all. If the inspection reveals nothing big, you can make your competitive offer with confidence.
The huge strength in performing a pre-inspecting is that your offer won’t contain an inspection contingency. You don’t need an inspection contingency in your offer because your pre-inspection has already revealed everything you need to know about the house.
Sellers love offers without inspection contingencies. That’s because the transaction is much less likely to fall through when a buyer knows exactly what they’re getting into. At Faira we include inspections on all of our listings.
If you’re using Faira Offer Assist to purchase of a non-Faira home, we highly recommend pre-inspecting popular properties. To understand if the home you’re interested in will be popular, you can talk with the listing agent. Another sign that a seller thinks their home will get lots of attention is seeing if the listing has a review date set for offers. If there is a review date, the property is likely going to see competition. The cost of a home inspection depends on the size and type of the home, but you can expect to pay anywhere from $300 to $600 on average to hire an inspector.
We hope this information has helped you understand pre-inspections and how they make your offer stronger on a competitive home.