When it comes to home buying, the old adage “knowledge is power” is especially true.  A pre-offer consultation can help you gain up-front knowledge about a home before making an offer.  During a pre-offer consultation a home inspector will accompany you on a home showing to view the property with a trained eye.  The inspector will point out any potential points of concern, and if you’d like you can take notes and pictures.  This will allow you to go to the negotiating table with more information than the average buyer, giving you an edge over the competition.

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So how does this greater understanding translate into a buyer’s advantage?  This is where your Realtor can really help, as they’re the negotiating pros, but I’ll throw out some quick ideas.  If you are comfortable with the home’s condition you could offer a higher earnest money deposit to signal that you’re a serious buyer.  If two offers are exactly the same but you’re offering three times the earnest money, chances are the seller will favor your offer.  I always recommend a full inspection because they are more thorough, but depending on your risk tolerance, you could waive the inspection period and be weeks ahead in the buying process, which can be attractive to sellers looking to get the deal done fast.

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While pre-offer consultations are not as extensive as a standard home inspection, they can give a good initial assessment of property condition.  Should you decide to order a full inspection after making an offer, the initial cost of the consultation can be credited toward the inspection.  This allows you to start strong, without having to “double-dip” on expenses later.