You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. We always recommend you make your offer contingent upon a clean home inspection.
This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some cases, walk away if challenges arise. Your agent can advise you on the best course of action once the report is filed.
Don’t Judge a Book by its Cover- You never know what issue’s a home might have, even it looks updated on the outside. Homes of all ages can have problems, including new construction. Plumbing and electrical are the most common issues and won’t be visible during a home tour.
It Saves You Money- A good home inspector will charge between $300 and $500 depending on the size of the house. It can feel like a lot of money but finding out about an issue earlier rather than later can save you thousands.
Leverage- If something comes up in the home inspection you have the opportunity to go back and re-negotiate the price. Any issue’s can be used as leverage to lower the price. Either the seller fixes the any issue’s before closing or the buyer can ask for funds to have the issue fixed themselves. At this point the buyer also has the option to back out entirely.
Know What You are Getting
At the end of the day a home inspection gives you the full picture of what you are buying. Being aware of any problems or potential problems allows you to better plan financially and understand fully what you are getting in to.
What do Inspectors Look For?
- electrical wiring
- Exhaust Fans
How to Choose an Inspector
Your agent will most likely have a short list of inspectors they’ve worked with in the past to recommend to you. HGTV suggests you consider the following five areas when choosing the right home inspector for you:
1. Qualifications – Find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.
2. Sample Reports – Ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detailed the report, the better.
3. References – Do your homework. Ask for phone numbers and names of past clients who you can call to discuss their experiences.
4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations does, however, often mean continued training and education are required.
5. Errors and Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human, after all, and it is possible they might miss something they should see.
Ask your inspector if it’s okay for you to tag along during the inspection, so they can point out anything that should be addressed or fixed.
Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating and air conditioning systems, ventilation, windows, fireplace and chimney, foundation, and so much more.