Whether you’re selling or buying a home, you will have to go through the process of home inspection. This is an important part of the whole process because it can tell the seller which parts of the home need fixing and alert the buyer of a home that has a potential to turn into a money-devouring pit.
The inspector will thoroughly asses the house, from the state of the roofs to septic tanks, appliances, walls, foundation, plumbing and electrical systems and more in order to detect any major or minor problems, which is why hiring a licensed inspector is a good idea for everyone.
Depending on whether you’re selling or buying real estate, this can be a good thing or a bad thing. But either way, you can benefit from the information. This can help buyers avoid any unexpected costs and help buyers fix any major issues in order to ask for a better price.
In this article, we’ll give you 5 things you may not know about home inspections.
They are Optional
While a home appraisal is mandatory, an inspection is completely optional. Regardless, they are highly recommended and conducted more often than not. If you decide to buy a home and hire an inspector, you are responsible for covering the cost.
However, this is a good investment since even a home that looks flawless may hide serious issues under the hood. An experienced home inspector will be able to detect these issues and advise whether buying the home still pays off, or if the cost of fixing the damage in addition to the price of the home is too high.
Sellers can rest easy, since a home inspection is non-invasive, meaning the inspector will not tear through walls to find issues there. However, even without that, an inspector can accurately assess the state of the home.
Be There During the Process
Buyers don’t have to be present for a home appraisal but should be there for the inspection. This will ensure that they are getting the most out of the money they paid for it. Feel free to ask the inspector about anything you may find confusing and ask to elaborate on their findings. Follow them around and you’ll gain better insight into the state of the home. This will not take too much of your time either, as these inspections usually last between two to three hours. An inspector will tell you whether you should worry about those nasty-looking cracks in the wall or not.
Hire an Inspector before Listing
As a seller, you can also benefit from hiring a home inspector company, as this way you’ll avoid any unpleasant surprises down the road. Imagine if you invest in luxurious additions like a new bathroom, kitchen or a pool only to find out that there’s a serious issue in the plumbing system you need to fix if you hope to sell the property.
Don’t Be Afraid to Negotiate the Repairs
Even a brand new house is bound to have at least some minor issues after an inspection. That’s why a buyer should ask the seller to cover as much of these issues as possible. If the seller cannot afford to, perhaps the buyer can negotiate a lower price on the property.
Get Quotes from Different Contractors
If you’re a seller and the home inspection report brings up a lot of issues, you don’t have to agree to buyer’s demands to cover all of them. Some repairs may be more expensive which could end up costing you more than you earn from the sale.
Try to negotiate with the buyer and promise to cover only the major issues. They might not agree right away but will realize that it’s still a good deal for them. At the end of the day, buyers are reasonable too and are only looking to get their money’s worth.
If you agree to fix some of the issues, ask for quotes from different contractors to find the solution that’s financially best for both you and the buyer. That said, don’t turn to shady companies, as their repairs may only end up costing the buyer more. Even if it may not be your problem, it’s highly unethical.
If you’re looking for experienced professionals contact The Inspectors Company at 811 Cerro Gordo Ave, San Diego, CA, US, 619-501-8282