Looks can be deceiving and without an expert home inspection, it is unlikely that a buyer will be able to identify any problems with a property before the real estate deal is finalized. It is not just finding out what the problems are. There are additional benefits that Jeremy Johnson a real estate enthusiast has to getting a home inspection done.
A Negotiating Tactic
Few home buyers, especially first time purchasers are aware that having a property expertly inspected can provide them with negotiating power to lower the actual price they pay for the property.
Any costs that are likely to be associated with repairing roofing, deep-cleaning or renovating property flaws and defects can be deducted from the property price in the event that the seller is not prepared to make the necessary changes.
A Contingency Plan
Most home inspections only take place once the purchaser has put in an offer to purchase a specific property. Once an offer has been made, it can be very difficult for the buyer to back out of the deal.
A home inspection that reveals significant problems gives the buyer the contingency to withdraw an offer without any consequences. However, it is important to weigh up the extent of the problems, the cost of any repairs that may be required, as well as the effect it will have on the purchase price to determine whether the defects are serious enough to withdraw the offer.
A Home Maintenance Plan
A professional home inspector will provide the buyer with a report regarding any existing problems as well as problems that could arise in the future. This report allows new home buyers to determine whether a property is worth buying or if the future defects are serious enough for them to withdraw the purchase offer.
It also assists them in planning for future repairs and renovations that may become necessary in the near and far future. To take the greatest advantage of this benefit, it is important to read the report carefully, in consultation with the home inspector, in order to plan for future maintenance and other problems.
Most mortgage or home loan providers will require a full home inspection report before they will approve the finance to purchase the property. This is to protect them against any likely disasters that may occur and affect the lender’s ability to repay the bond or loan quickly.
No new home owner wants to be surprised by faults and defects with the property they purchased in the first few months or even years after the purchase. Knowing what is wrong and how any problems identified by an inspector can be rectified can make the home owning experience much more enjoyable.
Home inspections are not just for prospective home buyers though. Sellers can also benefit from knowing what underlying problems may exist before putting their house on the market. Current home owners can also take advantage of regular home inspections as an early warning system or even to prevent extreme problems arising in the future.
You Should Ask These Questions When Hiring Your Inspector
When you find the home of your dreams, you will need to hire an inspector to make sure there are no problems that you may be unaware of. Whether your lender requires a home inspection or not, it is in your best interests to have one done. An inspection will tell you if you have electrical issues, plumbing problems or even a leaky roof.
They will also tell you the good things about your home and can help you learn where important things, including your water main, septic system or electrical panel are located. If there are repairs that need to be completed, your inspection will let you know so you or the seller can hire local general contractors to make sure major problems are repaired as necessary before the home purchase is made or for minor issues, after you take possession of the home.
To find a professional home inspector that you can trust to be thorough with the inspection, be sure to keep a few key pieces of advice in mind when you start searching for the right one for the job.
Is Your Home Inspector Actually Qualified?
You need to ask questions to find out the inspector’s experience and qualifications before you hire them. Check their website to see if certificates and training may be listed or inquire personally to see where they trained and what they may be certified in. it’s good to find an inspector who has some hands-on experience with either building and construction, electrical systems or even plumbing work.
You should also check to see how many years they have been in business as an inspector. It’s not difficult to take a few courses online and pay a fee to become a home inspector, but when you need to know the truth about the home you want to buy, it is best to hire someone who has been in the business for several years and knows exactly what to look for during the inspection process.
See a Sample Report
There is nothing wrong with tasting the samples of cheese at Costco or Sam’s Club, and when it comes to a home inspection, it is wise to check out a sample report to see what your inspector will include during their time in the home.
Don’t be shy when it comes to asking them to see a sample report or a checklist that they will go by once they get to the house. This will let you know upfront the precise things they will check, how they may note things on the report and whether the report seems long enough to be considered thorough enough for you.
You want to hire someone who will check every area of the house and who will note things, good or bad, to let you know the exact condition of the home and their thoughts on anything that needs to be repaired. A home inspection can save you a lot of headache by alerting you to things you might not notice on your own that could become costly when you move into the house.
Get The Full Home Inspection Report
Talk to the inspector before the inspection is scheduled to make sure they will send a complete report to include every detail of the home. You want to know the good things they found but you need to know the details, even the tiniest details, of things they find during the inspection. Is an outlet missing a cover?
You need to know small details like that will be included so you know what steps to take to make repairs. Will the inspector walk the roof to check for bad shingles or other damage? This needs to be included in the report.
You also need to know whether the inspector will include color photographs with the report so you can clearly see everything detailed in writing. A complete inspection report should include typical things that need to be maintained as well as major repairs that need to be completed before proceeding with the home purchase.
Once you check with the inspector to make sure they are qualified and you feel confident that they will do a good job, you need to inquire about pricing. Most home inspections will cost anywhere between $350 and $600. This is an expense that is well worth it when it comes to ensuring your investment is going to be your dream home rather than your money pit.