Tips For A Home Inspection
– As a homebuyer, there are many steps that happen in the purchase of a home. Not the least of which is having a home inspection completed. By hiring a qualified home inspector, a property can be thoroughly evaluated by a neutral third party and any issues can be uncovered before buying and moving into the home.
Here are 5 tips for a home inspection:
Attend the home inspection. While a real estate agent can handle the home inspection, it is always a good idea for the buyer to attend the inspection as well. By doing so, you can get all information directly from the home inspector and also see any issues found in person. A typical home inspection only takes a few hours of time and can mean the difference between making a costly mistake and avoiding it.
No follow-up. If issues are found or an inspector makes recommendations of repairs that could be completed down the road, then an estimate for repairs should be made to figure out the cost involved. Some inspectors will make a suggestion for a follow-up from another service provider to look at a specific issue. In this case, make sure that the opinion of another professional is sought even if it delays the timeline to close.
Don’t just take the inspector’s word. It’s not wrong to have another professional check out the home. If you have suspicions about the condition of the roof or HVAC unit, then contact a professional in each field to check everything out. A termite inspection is also another good idea regardless if the lender requires it or not. The last thing you want to do is buy a home and find out immediately that it requires a costly repair that could have been prevented with thoroughly inspecting the home prior to purchase.
Older homes may require additional tests. Homes that are over 30 years old can have additional problems that may not be found in a visual home inspection. Additional tests that can be performed include, but are not limited to, having a camera ran through the drain lane and also a hydrostatic test to check for leaks in the drain.
A licensed home inspector will provide a thorough report detailing any repairs that should be made. After a report has been issued, then the buyer can further negotiate. Typical steps are to ask for the seller to complete repairs at their own cost, gain a purchase credit from the seller that will cover the repairs, request a price reduction or walk away from the home completely.
Problems found in a home inspection will vary from one property to the next, but among the most common are faulty wiring, plumbing issues, drainage problems, structural/foundation defects and environmental hazards. A home inspector has a full array of different tools to inspect various household elements. Many home inspectors will utilize water sensing instruments as well as thermal imaging to uncover any issues with moisture or heat within a home. Appliances that are included in the sale of the property will also typically be inspected for any leaks and to ensure that they are in proper working order.
By understanding what happens in a home inspection, a buyer can get the most out of it. While it will cost an average of between $300 to $500 out of pocket to get a home inspection completed, the investment is well worth it. A home inspection clause/contingency is typically found in just about every purchase contract. This allows for the buyer to decide against purchasing the home if anything major is found, further allowing the earnest money deposit to be returned in most cases.
FSBOTips For A Home Inspection
March 21, 2016