The home inspection is one of the most important aspects of buying a home. If it is not done, or done incorrectly, you could buy a home only to find that it has all sorts of structural or mechanical problems that could be costly to repair. Here are some home inspection tips that house buyers should know.
What To Look For
The first thing you want to review is the home’s structure. This is what professionals will assess as it determines whether or not radon is present or insects such as termites which will consume any wooden objects they come in contact with. You will also need to perform tank sweep inspections to determine if there are oil tanks which have been abandoned beneath the surface.
Inspecting a house before you buy it is similar to purchasing a used car; you never hand over any money until you’ve looked under the hood, and don’t expect the homeowner to be forthcoming with any issues that may exist with the property. They may not be aware of them, or if they are, they may simply choose not to reveal them to you. An inspection should last from 2 to 3 hours and you should be present during the process.
Why You Should Be Present During The Inspection
Some home buyers avoid attending the inspection because they lack the time, but there are a number of reasons you should be there. First, professional inspectors will show you the best way to maintain the property, as well as what problem areas to look for and things to be cautious about. They will be able to answer any questions you have.
However, you should only ask them questions after the inspection has been completed, as doing it beforehand can overwhelm them, as they will be more focused on your questions rather than assessing the home. They will typically draft a report which will be sent out a few days after the physical inspection has been completed.
How The Inspection Report Should Be Used
Once you have the results in your hand you will want to contact your agent and attorney. The attorney will forward the results to the attorney of the seller. At this point if the report indicates that there are problems with the property you will need to negotiate with the seller and ask them to lower their sell price, preferably for an amount which is equal to what it will cost to get the issue repaired.
In other words, if there is a structural problem with that home that will require $12,000 to fix, then you should ask the seller to reduce their asking price by $12,000. If they refuse to do so, then you should walk away from the deal. Depending on the extent of the damage and the time and effort that is required to fix it, you may choose not to buy the house at all and move on to a better offer. Sellers will often cooperate especially if they’re having a hard time moving the property or the market has more sellers than buyers.
