Do you have an inspection scheduled this weekend? Check out these suggetions to get the most value from your home inspection.
Once an offer on a property is accepted, most buyers hire a professional home inspector to assess the condition of the home. The inspector will write a detailed report for the buyer to use in deciding how to proceed with the purchase. Should the buyer cancel the contract and terminate the purchase; ask for the seller to complete repairs; or request a price reduction or purchase credit from the seller to cover repairs?
Unfortunately, many buyers fail to realize the importance of the home inspection. Keeping the factors below in mind can help ensure that you get the most value from the process.
Attend the inspection
Many buyers let their real estate agent handle the process and don’t even attend the inspection. This is a huge mistake. Most real estate sales professionals are going to do a great job for you, but if you rely on them to handle this process alone, then you aren’t going to hear the inspector point out any issues that might cause you to think again about whether it is the right property for you.
Check the inspector’s credentials
In many states an inspector doesn’t need any formal inspection education and may not have to be licensed or bonded. In order to make sure your inspector is a competent professional, you should do a little research on your state’s requirements, certifications and professional designations. Then question, and verify, the experience and knowledge of your inspector. If you don’t, you might get a really bad inspection report that fails to find important issues.
Inspect the home for yourself
Most of the time a home inspection is only the second or third time a buyer has walked through the property — and probably the first time with a few hours to really look around. This is the most expensive purchase you will ever make. Doesn’t it make sense to do many detailed reviews of the property before you make the final decision to proceed forward with your purchase? Bring a friend or family member along for an additional set of eyes. If you discover something that makes you second guess whether it is the right property for you, you’ll be glad you found it before you closed escrow.
Make a list of costs
At the home inspection, separately from the inspector, you should add up all the costs of items you want to repair, replace, paint, improve, landscape, etc. Adding up all those costs, plus getting bids and estimates to make those repairs and upgrades, will give you a better feel for how much you will be spending on the property once you take ownership.
With your inspection report in hand — plus your list of needed improvements and the assistance of your real estate sales professional — you can request that the seller make repairs. The seller may say no, give you a purchase credit or repair some items. But the more detailed your list, the better the chances the seller will at least give a little — and maybe a lot.
More Questions about home inspection? Give us a call or text, we are happy to answer any questions you mau have.
By Peter Weber, Homestead Hounds Home Inspection Services.
Buying a home? The process can be stressful. A home inspection is supposed to give you peace of mind, but it often has the opposite effect. You will be asked to absorb a lot of information over a short time. This often includes a written report, checklist, photographs, environmental reports, and what the inspector himself says during the inspection. All this combined with the seller's disclosure and what you notice yourself make the experience even more overwhelming. What should you do?
Relax. Inspectors are professionals, and if yours is a member of InterNACHI, then you can trust that he/she is among the most highly trained in the industry. Most of your inspection will be related to maintenance recommendations and minor imperfections. These are good to know about. However, the issues that really matter will fall into four categories:
1. Major defects: An example of this would be a structural failure;
2. Things that lead to major defects: a small roof-flashing leak, for example;
3. Things that may hinder your ability to finance, legally occupy, or insure the home.
4. Safety hazards, such as an exposed, live buss bar at the electric panel.
Anything in these categories should be addressed. Often, a serious problem can be corrected inexpensively to protect both life and property (especially in categories 2 and 4).
Most sellers are honest and are often surprised to learn of defects uncovered during an inspection. Realize that sellers are under no obligation to repair everything mentioned in the report. No home is perfect. Keep things in perspective. Do not kill your deal over things that do not matter. It is inappropriate to demand that a seller address deferred maintenance, conditions already listed on the seller's disclosure, or nit-picky items.
Viewing this presentation is highly recommended for anyone that isn't quite sure of what is/isn't inspected on a standard home inspection & was made to inform consumers & real estate professionals about what to expect from your home inspector. The information given on this video was taken and edited from the WA Standards of Practice; that all WA licensed home inspectors must practice at the minimum requirements created by WA state legislature.
For more information about home inspections contact us today.