How one shrewd realtor and a pre-sale inspection increased a home’s sale price by $70,000
“The home belonged to an elderly woman. It was the first home she had owned since splitting up with her husband 20 years beforehand, and she was very proud of it,” said Sharon Noll, Brevard County Remax Solutions Realtor.
However, the home wasn’t in tip top shape. It had seen kids raised, endured many storms, and the years had worn down on it. Sharon, like any good realtor, suggested some changes that she could make to increase the sale price of the home.
“I realized I needed to step back a little from some of the issues I thought had to be addressed and call in an expert to give me the hardcore facts to find out how we could get the top-dollar sale price,” Noll said.
She decided to call Hound Dog Home Inspections so we could go through the house with a fine-tooth comb.
“Their reports are the most thorough reports I have ever seen,” said Noll. “I’m not the kind of agent that wants the transaction to go through more than I want what’s best for my client, so I wanted to know every little issue.”
Noll decided the best bang for her client’s buck was in fixing the big-ticket inspection items and some cosmetic stuff. The cosmetic stuff is easy to see, but the structural problems are the real deal-killers.
The total cost of the repairs and renovations was around 7-8 thousand, according to Noll.
This sounds like a lot of money, which is why Noll recommends getting your inspection and starting to make the repairs as soon as you realize you may be selling in the future. This allows you to shop around for the best prices on repairs and pay for them over time, which is much better than ignoring them and not being able to get top-dollar for your home.
“I can say for sure, absolutely for sure, that because of the recommendations Hound Dog made in the 99-page report, that we went from a list price of maybe $160,000 to a list price of $230,000,” said Noll. “Then we got 3 offers, 2 at the asking price and one over, and it was specifically because of the pre-listing inspection and my seller’s willingness to follow the recommendations”
Surely a $70,000 price increase can’t be normal, can it? Well, according to Noll its actually typical. A pre-sale inspection and subsequent repairs on the right home will always result in a dramatic value increase.
However, a pre-sale inspection isn’t for everybody, according to Noll. For her, it depends on 2 things. First is age of the home. Older homes are more likely to have major issues than newer ones (there are exceptions, of course). The second, and most important factor, is the seller’s willingness to make the repairs recommended by their agent and the inspector. If the problems are found and not fixed, then the inspection will have gone to waste.
“A reasonable agent should be able to figure out their seller and their motivation level for making changes,” Noll said. “If you feel they’re open to it, it is hands-down money worth spending”
The right repairs can make an old home sell as if it were brand new, and it all starts with getting a pre-sale inspection from the right inspector.
P.s. If you haven't already, make sure to join our Facebook group, Ask The Inspector Brevard. If you ever notice a problem in a home, simply snap a picture and post it in the group and we will give you an expert analysis within 24 hours, free of charge. We also regularly post advice for spotting problems and how to handle them.