Home inspections are something that every home buyer should put high on their priority list. Once you have decided on a home that's right for you, you should hire a home inspector. This will ensure that all potential problems with the home are found, which gives you the opportunity to prepare for how these repairs will be made. Here are four important things to know about home inspections:
- The Home Buyer Usually Pays for It: Since there's no benefit of a home inspection for the home seller, it's typical that the home buyer pays for the home inspection. The average cost of a home inspection is between $300 to $500. It sounds pricey, but in the end, you will have more negotiating power with the seller. Plus, the seller will typically pay for the repairs themselves in order to push the home buying process forward, which saves you much more than the cost of the home inspection.
- The List of Problems is Sorted by Importance: When the home inspection is done, the inspector is going to go over every flaw they have found, starting with the most important. This will include repairs that need to be done to the foundation or roof of the home since these areas cost the most in repairs and are important for the structural soundness of the home. After this, they will discuss little repairs that need to be made, down to cosmetic repairs that should simply be considered for appearance purposes. You can use this list for negotiating on the price of the home; however, you should keep in mind that the seller is probably only going to handle the most important repairs and leave the rest to you.
- Real Estate Agents Know How to Read Home Inspections: When a home inspection is done, a report is made that you will want to go over with your real estate agent. Your agent will know how to read this report and use it to your advantage. They will come up with a plan to use the report to negotiate on the cost of the home. On top of this, your real estate agent will work to ensure that the current home owner has the repairs done themselves before you agree to purchase the home. Doing this often makes the process a bit faster.
- A Home Seller May Hire Additional Experts: Since the home seller most likely did not hire the original home inspector that you did, they may decide to hire their own experts to reevaluate the damages that are claimed to be there on your home inspection report. The reason for this is to ensure that a second opinion is made and for the home seller to save money on their end, as well if their expert doesn't find anything wrong with the area. This is important to keep in mind so that you are prepared for the long process of this if it does occur.
When you know these four things about home inspections, you can be more prepared for the process and also better understand the importance of it. Contact a company like Criterium Dotson Engineers to learn more.Share