Before listing your home for sale, gathering key reports can help you address potential issues, attract serious buyers, and streamline the transaction process. The specific reports you need may depend on your location, the type of property, and the condition of your home. Here’s a list of commonly recommended reports:
1. Pre-Listing Home Inspection Report
- Why: Identifies potential issues with the home’s structure, systems, and components (e.g., roof, plumbing, HVAC, electrical).
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Benefits:
- Allows you to address problems upfront, reducing surprises during the buyer's inspection.
- Builds buyer confidence in the property.
- Cost: $300–$600 (varies by location and property size).
2. Pest Inspection Report
- Why: Detects evidence of termites, wood-boring insects, or other pests that could cause structural damage.
- Required: In some areas, especially in states like California, pest inspections are common or required.
- Cost: $75–$300
3. Title Report (Preliminary Title Report)
- Why: Verifies ownership, uncovers liens, easements, or encumbrances that could affect the sale.
- Provided By: A title company or attorney.
- Cost: Often included in closing costs, but ordering it early helps address issues beforehand.
4. Comparative Market Analysis (CMA)
- Why: Helps determine a competitive listing price by comparing your property to similar recently sold homes in your area.
- Provided By: Your real estate agent.
- Cost: Usually free if working with an agent.
5. Energy Efficiency Report (Optional)
- Why: Highlights the home’s energy efficiency, which may be attractive to buyers.
- Provided By: Energy audit professionals.
- Cost: $150–$500.
6. Survey or Plat Map
- Why: Shows property boundaries and identifies easements or encroachments.
- Required: May be necessary if there are questions about property lines.
- Cost: $400–$800 (if not already available).
7. Sewer Line or Septic Inspection (if applicable)
- Why: Ensures the sewer line is clear and in good condition or that the septic system is functioning properly.
- Required: Often required for rural properties with septic systems.
- Cost: $100–$300 for sewer inspection; $300–$500 for septic inspection.
8. HOA Documents (if applicable)
- Why: Provides information about homeowners’ association rules, fees, and financial health.
- Required: Buyers typically request this information during escrow.
- Cost: Fees may apply for document retrieval.
9. Local Disclosure Reports (Natural Hazard Disclosure, etc.)
- Why: In some states (e.g., California), sellers are required to provide information about natural hazards, flood zones, earthquake risks, etc.
- Provided By: Third-party disclosure companies - google "NHD report" for a company that will provide.
- Cost: $60–$150, but most third-party companies have a "pay at close of escrow" option.
10. Appraisal Report (Optional)
- Why: Determines the home’s market value based on its condition, location, and comparable sales.
- When: Useful for setting a realistic price, especially in competitive markets.
- Cost: $300–$500.
11. Warranty Records and Manuals
- Why: Provides buyers with details about warranties on appliances, systems, or recent repairs.
- Optional: Consider offering a home warranty to increase buyer confidence.
12. Radon or Mold Testing (if applicable)
- Why: In some areas, radon or mold testing is a common concern.
- Cost: $100–$300.
Why These Reports Are Important
- Transparency: Builds trust with buyers by addressing potential concerns upfront.
- Market Appeal: Makes your home more attractive by showing it’s well-maintained.
- Streamlines Negotiations: Reduces the likelihood of buyers asking for credits or repair requests during escrow.
Gathering these reports early can help you prepare your home for sale, avoid surprises, and ensure a smoother selling process.
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Additional Resources
Check out these articles for more information:
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Zillow: Getting Your Paperwork in Order So You're Ready to Sell
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Home Inspection Insider: Pre-Listing Inspection: A Better Home Selling Experience
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National Association of REALTORS®: Before Putting a Home Up For Sale
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