PowerPoint Presentation
Everything You Need to Know About a Home Inspection
Getting a home inspection is an important part of buying a home.
Real estate agents will recommend hiring an inspector to ensure the
home is sound and a good decision for your investment. Its
important for both sellers and buyers to understand the home
inspection process and what it will mean for the
transaction.http://www.amysims.com
Not Just One InspectionA home inspection isnt just one item.
Instead, it can be multiple inspections, depending on what is
required for the loan and what you feel is necessary. A basic
structural inspection looks at the foundation, roof, plumbing and
electricity, along with other components. You may also need a
termite inspection if damage is found. Other types of inspections
include the following:
ChimneyElectricalInspection for lead-based paintHeating and air
conditioningFoundationRoof inspectionSewer inspectionSoil
inspectionPool and spa inspectionWell and water
systemsAsbestosRadonMoldhttp://www.amysims.com
Not every buyer will need to have all inspections conducted on a
property. In fact, in most cases, a general inspection is all you
need. If problems are found or youre in an area which is high risk
for a specific problem, you may need to have a separate inspection
performed.http://www.amysims.com
What the Buyer Needs to KnowYoull need to get a licensed,
certified inspector to do the work. As the buyer, you should expect
to pay for the inspection. You can also be present at the
inspection and ask questions. The inspector will explain in detail
any problems found and options for repair. They can also provide
information on how to maintain your home.
The inspector wont perform the repairs, but they will know who
to recommend. They can tell you which companies have the best
reputation. After all, they have followed some of them in home when
they conduct inspections.http://www.amysims.com
Youll receive an inspection report which lists all issues found
in the home. Read this report thoroughly and find experts to ask
questions or get estimates. Make sure you understand which issues
are major problems and which are just common wear and tear.
Once you read over the report, your next task is to decide how
you want to handle any repairs needed. You can request the seller
to fix them or ask for a reduction in price for the repairs or you
can accept responsibility for them after you
close.http://www.amysims.com
The best option for most buyers is to choose the repairs with
the highest priority and ask for those items to be repaired. Let
small issues slide as the cost of purchasing a home. If a home is
marketed As Is, it means the seller wont make any repairs. Be
prepared to take care of any problems on your own.
While you can negotiate with the seller for these repairs, you
can also walk away if youre truly concerned about the safety or
functionality of the home. You may lose your initial escrow
deposit, but you wont inherit a home you cant afford to
fix.http://www.amysims.com
What the Seller Needs to KnowAs the seller, you will receive a
copy of the inspection report and a list of repairs the buyer is
requesting. What you need to know is that you have room to
negotiate. You dont have to fix everything the buyer is asking for.
You can decide what is reasonable and what isnt. However, repair
requests required for loan approval are often not optional if you
want to sell your home.
You can also offer to reduce the selling price or provide a
credit to the buyer in lieu of making the repairs. Often, the
seller provides a combination of the two options in their response
to the buyer. They will make some repairs and either refuse others
or offer a credit instead.http://www.amysims.com
As the seller, you will receive a copy of the inspection report
and a list of repairs the buyer is requesting. What you need to
know is that you have room to negotiate. You dont have to fix
everything the buyer is asking for. You can decide what is
reasonable and what isnt. However, repair requests required for
loan approval are often not optional if you want to sell your
home.
You can also offer to reduce the selling price or provide a
credit to the buyer in lieu of making the repairs. Often, the
seller provides a combination of the two options in their response
to the buyer. They will make some repairs and either refuse others
or offer a credit instead.http://www.amysims.com
Once the seller has responded to the buyers request, its up to
the buyer what they want to do next. Sometimes, more negotiations
may be required while other times, the buyer will accept the
sellers response outright.
You must decide if the requested repairs are fair and
reasonable. You must also consider what will happen if you refuse.
If the repairs are necessary, you will have to solve the problem
before you can sell the property to any
buyer.http://www.amysims.com
For the person considering selling their home, you may want to
hire an inspector on your own. Have them look at your property and
give you an idea of any repairs that will be needed. While
inspectors may differ on what they find, it will give you a good
idea about what to expect. You can make the repairs prior to
listing your home, which will make it more attractive to
buyers.
A home inspection is an important part of buying and selling a
home, and it shouldnt be taken lightly. Both parties are on a
timeline, but they must make sure they understand the consequences
of their decisions.
http://www.amysims.comhttp://www.amysims.com
11
Website: http://www.amysims.comAmy
[email protected]
Sources:
http://www.amysims.com/http://freshome.com/2014/10/24/10-things-every-buyer-should-know-about-home-inspections/http://amysims.com/blog/everything-you-need-to-know-about-a-home-inspection
Questions? Comments?We are happy to help you!
