What is a pre-inspection and why would I do one when buying a home?

What is a pre-inspection and why would I do one when buying a home? findwell agent Michael Schafer answers in this installment of Ask an Agent.

Q: What is a pre-inspection and why would I do one when buying a home?

A pre-inspection is something that you would do if an offer review deadline is set by the seller. The reason you do a pre-inspection is two-fold. Number one, it obviously protects you from buying a house that could have a lot of repairs needed and maybe is something you don’t want to move forward with after you’ve pre-inspected it. But most importantly it gives you an option to compete with all the other buyers that are going to be submitting offers and it makes sure your offer stands out that much more because you’re not going to be submitting your offer with an inspection contingency. If you find numerous issues during your pre-inspection and you’re wondering how do I move forward with this if I still want the house? That’s something you’re going to have to evaluate with your real estate agent and determine how much of those issues you can stomach. If it’s something where you need to adjust the offer price in light of what you’ve found that is certainly an option and the best advice is to have your agent convey to the listing agent that we’re coming in at this amount in light of what we’ve found during the inspection but we still want the house. The other option is just to simply walk away and not pursue it any further if there are too many issues found at pre-inspection.