Why a Home Inspection Is an Essential Part of Buying a Home
Are you a home buyer currently in escrow? If so, it's important that you have all the information to make an informed decision about the house you're thinking about buying. Working with a home inspector can make this easier, as they can help you recognize and evaluate any problems that might exist in the home you're thinking about buying.
What Happens During a Home Inspection?
During a home inspection, the inspector checks the major systems of the house, including the plumbing, electrical system, roof, insulation, appliances and siding. The home inspector also checks details like the light switches, door knobs, faucets and toilets. Dripping, signs of water damage, broken fixtures and other problems are all noted in the inspection report.
What Makes Home Inspections Worthwhile?
Home inspections help home buyers determine that the purchase they're making is worth the money they're paying. Home inspections can sometimes reveal serious problems that could lead the home buyer to determine that the house they're trying to purchase is not worth the price being paid. For home buyers on a tight budget, the home inspection may reveal that the home they're trying to buy is going to cost too much to repair after moving in.
How to Make the Most of Your Home Inspection
Home inspections can be a positive experience for a home buyer. Attending the home inspection gives the home buyer a chance to ask an expert questions about the home they're thinking about buying. The home inspector can give the buyer information about maintaining various systems of the house, where important shut off valves (like the gas and water) are located, and which problems with the house are more serious than others.
How To Find a Good Home Inspector
Many homeowners work with their real estate professional to find a good home inspector. Most real estate professionals have contacts in the area where they work and know the best home inspectors from previous experience.
You Got the Home Inspection. Now What?
Once the home inspection has been completed, and the home inspector has written the report, it's up to the home buyer to decide how to handle the contents of the report. Options include:
- Waive the home inspection contingency. If the results of the report were satisfactory and the home buyer would like to proceed with the purchase, they can waive the contingency.
- Renegotiate the price of the house. If the house has substantial problems but the home buyer is willing to pay for the repairs after moving in, they may be able to renegotiate the price of the house to compensate.
- Negotiate repairs to be done during escrow. Sometimes, home sellers themselves are willing to make the repairs to the house.
- Cancel the home purchase contract. If the home has serious maintenance problems that the home buyer isn't willing to pay for, and the home seller won't make repairs, sometimes the only option is to cancel the home purchase contract.
Contact a Real Estate Professional
Are you a home buyer just starting the purchase process? If so, you need help from a real estate professional. Working with a real estate agent can help you negotiate a good price for a house. Your real estate agent can also help you choose a good home inspector to inspect your prospective house.