As a buyer, you will want to fully understand home inspections and how they work. What can an inspector find and what can go undetected? What happens if the inspection goes poorly? We will attempt to answer all your questions with our latest post!
You Should ALWAYS Have an Inspection Done On The Property
It makes no difference what property you are buying, you should always factor in the cost of a thorough and proper inspection. Some banks will require a full inspection before signing off on a loan but inspections are not a legal requirement when you buy a home. Some people waive the inspection, but this is usually more common with cash buyers who are looking to keep costs low.
If you opt out of an inspection, you are buying as-is and can’t ask for damages later. An inspection can save you thousands in repair costs you might not have seen on your own. Whether you are buying a duplex, condo, or your grandma’s house make sure to go ahead with an inspection from a licensed professional.
They Work For You
The inspection and related costs are on you as the buyer. That said, some sellers choose to have an inspection done when they decide to sell. This gives them a chance to make repairs and have the opportunity to address and negotiate problems upfront. Even if you are working with a seller who has done this, you should STILL take matters into your own hands and have an inspection done by a licensed professional.
Because they work for you, you should do some research beforehand. What do their references have to say? Do they show exemplary qualifications? How extensive is their training? Remember that you are looking for a fully licensed and certified inspector and not someone who simply knows a lot about construction.
They Can’t See It All
There are some things an inspector simply can’t inspect. Inside the walls, cracks in the chimney, inside the septic tank, wells, and environmental factors. For issues pertaining to these parts of your future home, you might consider consulting a specialist to further inspect.
You Should Be There
This is your chance to learn everything you can about the house. Take the opportunity to ask questions. If the inspector notices something is wrong, how could it affect other areas of the house?
Get a Report
Make sure a report is written clearly and that it addresses all major components of the house. You should understand everything and if you have a question, simply ask. The report should cover all needed repairs. Get quotes to determine just what fixing the house will mean for you.
You are now able to negotiate any repairs with the seller. Will they make repairs? Lower the price? Give you a credit? If the home has many defects, there is often an inspection contingency in your offer. This will allow you to back out of the sale if the inspection goes poorly.
Home inspections are the way to understand more about a home you want to buy. Before making any purchase, you should choose to hire a licensed and qualified inspector.