Inspections are a part of most residential real estate transactions, but because they are so common, their role is often taken for granted or misunderstood. There are some important points you should think about before ordering an inspection on a home you’ve decided to purchase.
Remember that a home inspection is not a witch hunt! It’s not a tool for finding flaws to allow you to re-negotiate your contract. An inspection is an educational exercise that allows buyers and sellers to better understand the home’s condition. An inspection can alleviate the buyer’s anxiety while also providing a basis for repair suggestions.
Don’t think that you won’t need an inspection just because you’re buying a new home. Nobody wants any surprises when purchasing an older home, but imagine what could happen in a brand new one that hasn’t even been lived in yet! If you’re considering the purchase of a home under construction, ask about “phase inspections,” which are completed at various stages in construction for your peace of mind.
If an inspection discloses habitability issues, the buyer may request that the seller complete the repairs or ask the seller for a dollar amount and complete the repairs themselves. Some buyers are more comfortable taking the dollar amount and hiring their own contractors to make the repairs. Habitability issues include a hole in the roof, plumbing leak or a furnace that is not working. If the seller is unable or unwilling to make habitability repairs or to provide a dollar amount for the repairs, the buyer may request to withdraw from the contract.
Finally, don’t assume that inspections are exclusively the responsibility of the buyer. Many sellers have benefited from inspections performed as soon as they list their home for sale. This inspection can identify potential problems, and the seller can correct them right up front. The seller writes on the inspection report explaining the repairs that have been made and then leaves a copy of this report out for the potential buyers to view. Potential buyers appreciate being provided with this information and feel more confident making an offer on a home that is pre-inspected. The seller can add to the buyer’s confidence by providing a home warranty for the buyer, also.
When hiring an inspector, ask them about their experience in construction and maintenance. You may also ask to see a sample inspection report. Your real estate professional can provide you with the names and numbers of inspectors they have used in the past with good results.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.