June 24, 2024

Real Estate Home Inspections – What You Need to Know

A home is one of the largest purchases that you’ll ever make in your life. It’s important that you understand the condition of the property before you sign a contract to purchase it. A professional home inspection is a valuable tool to help you do that. The information gathered during the inspection can assist you in negotiating with the seller, making an informed decision about buying the property and deciding how to proceed once you’ve found your dream home.

While much of the information you can find online focuses on what buyers need to do to prepare for a home inspection, sellers should also be aware of things they can do to ensure the process goes smoothly. This includes getting a pre-listing home inspection, making repairs before listing and being prepared to negotiate after the buyer’s inspection.

Pre-listing home inspections are becoming increasingly popular among homeowners looking to sell their homes. A pre-listing inspection is a thorough, visual examination of the house that can identify any major issues that may be discovered during the buyer’s inspection. The inspection can be used to address concerns with the home before putting it on the market, allowing the seller to fix any problems and possibly increase the sale price.

During a pre-listing inspection, the inspector will examine the exterior of the home, including the roof, siding, foundation and plumbing. They’ll also look at the electrical system and interior of the home. The home inspector will provide a comprehensive report that will include any significant findings.

The inspection will typically take up to two hours. During this time, the inspector will walk through each room and explain the condition of the items being inspected. It’s a good idea to ask the inspector any questions that you may have. However, it’s best to wait until after the inspection or during breaks so as not to distract them from their work.

Once the inspection has been completed, the results will be included in a written report that the buyer can review and use to determine whether or not to move forward with the sale. The report will note any issues that the inspector found and how serious they are. Depending on the issues, the buyer can choose to withdraw their offer or request that the seller make certain repairs before closing.

If the issues are severe, the buyer can request a lower sale price or cancel the deal altogether. While it’s unlikely that the seller will agree to pay for all of the buyer’s requests, they will most likely be willing to make concessions in order to close on the home.

To avoid any surprises, a buyer can add an inspection contingency to their contract that gives them the right to pull out of the deal if the home does not pass an inspection. Buyers can also opt to have their own inspection performed by a professional to get an unbiased opinion on the home’s condition.