What You Need to Know About a Home Inspection – A home inspection is an essential component of the process of buying real estate, no matter what you intend to do with the property after purchasing it. Whether you are looking for a primary residence, a vacation home, an income property, or a house you can quickly flip, a high quality home inspection is a non-negotiable part of the process.

What You Need to Know About a Home InspectionWhat You Need to Know About a Home Inspection

What is a home inspection and why does it matter?

A home inspection involved a professional home inspector carefully looking over a property you are in escrow to buy. They will write up a report of all the major components of the home to allow you to make an informed purchase.

Having a home inspection done is important for a few reasons. First, most lenders will require a home inspection to protect themselves from potentially being liable for an asset that is worth less than originally thought.

Second, a home inspection gives you the opportunity to discover any major (aka costly) issues with the property in order to make a knowledgeable decision. Some properties may be a ticking time bomb, with a major repair that will cost you significant funding and stress just waiting to explode onto the scene.

Third, home inspections sometimes provide the buyer with negotiating power. If you discover an issue with the property that will need to be resolved immediately or in the near future, you may be able to ask the seller to either repair it before closing or provide a credit to cover the expense of the repair.

How much will a home inspection cost?

The cost of a home inspection will vary, but you can reasonably expect to spend a few hundred dollars, which will be included in your closing costs.

How can I choose a reputable home inspector?

We can recommend professional home inspectors that we have worked with before and have earned our trust. You can also ask friends in the area and read online reviews to make sure you are working with someone who comes highly recommended.

What happens if the inspection reveals issues with the property?

If the home inspection reveals an issue with the property, there are a few steps you can take. First, you need to decide if the problem is a deal breaker for you. Sometimes the inspection will reveal the need for a repair that is simply outside what you are willing to deal with, either because of the expense, the way it will affect your move-in timeline, or simply because you don’t want to deal with the headache. If so, it’s time to walk away from the property and begin looking for another.

In many cases, the issue discovered during the home inspection will not be a deal breaker. If this is the case, you can use the home inspection report as leverage in negotiation with the seller. Get a few quotes from local contractors for how much it will cost to repair the issue in accordance with local building codes. Present the estimates to the seller, either asking for a credit to cover the cost or a satisfactory repair to be completed before closing.

Sometimes, sellers will also look at the home inspection report and simply come to the buyers with a new, lower offer. The right route to take will vary depending on a multitude of factors, and that’s where we come in. Having experienced professionals on your team means having our expertise to lean on as you decide how to respond to your home inspection report.


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