Hello & Welcome Back to #FabulousFriday! An important part of the real estate buying process is the evaluation of the home's working systems--via a home inspection. Home inspections are a critical part of the real estate transaction. Failure to obtain a home inspection could potentially cost you a great deal of money and hassles in the long run.
A home inspection is a visual assessment of a home’s condition in which inspectors look for thousands of potential problems in areas of the home, including ceilings, walls, floors, windows, and doors. Homebuyers may want to accompany the inspector as they do their work. Inspectors can show potential homeowners where certain plumbing or electrical details are located and help buyers understand the scope of a potential problem. A home inspection is also an objective visual examination of the structure and systems of a home by a neutral third party. Basically, it shows you what’s wrong with the property and if it is serious enough to prevent a sale. (Note: An inspection does not concern code violations and therefore does not guarantee that the home is free of them.)
A member of the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (InterNACHI) are trustworthy individuals to perform the inspection. They’ll generally charge about $400-700, depending upon the size of the home and additional systems inside the property.
If you’re buying or selling a home, it’s important to understand what a home inspection entails and how it affects the sale or purchase of a house.
The three main points of the inspection are to evaluate the physical condition of the home, identify items in need of repair or replacement, and estimate the remaining useful life of the major systems, equipment, structure and finishes.
An inspector cannot report on defects that are not visible, such as defects hidden behind finished walls or beneath carpeting, and inaccessible areas. Seasonally inoperable systems (swamp coolers, air conditioning, furnaces) will not be turned on during the inspection.
Hiring an Inspector
To hire an inspector, get recommendations from your Real estate agent, or from friends and family. You can also search for reputable home inspectors online. When interviewing inspectors, be sure to ask for references and memberships in professional associations. Find out about the inspector’s professional training and experience.
It’s a good idea to be present during the inspection for a few reasons: you can ask the inspector questions during the inspection, the inspector will have the opportunity to point out areas of potential trouble, and many inspectors also will offer maintenance tips as the inspection progresses.
Making Suggested Repairs
The seller is not required to make any repairs or replacements. However, the buyer can use the inspection report as a negotiating tool. For instance, if certain repairs or replacements are made, the buyer might offer to pay more, or if they’re not, the buyer can bid lower.
Costs and Time Involved
The inspector’s most important priority is accuracy, and accuracy takes time. The chances of mistakes are more likely if the inspector rushes through. Your inspection may take between two and five hours. Older homes take longer than newer ones. In fact, obtaining a home inspection may be one of the most important investments you make when buying a home.
One of our friendly helpful Shaffer agents are here to help you navigate the selling and buying process. Reach out to us today with your questions! See you next Friday for more real estate tips and tricks. Warmly, Susan