What do you need to know about home inspections?
Home inspections and the conditions of a home inspection are included in purchases and sales when multiple buyers aren’t competing for the home. Home inspections are something we haven’t had in many deals over the past three to five years, depending on where you live.
Some people think that a home inspection can be used to reopen negotiations on the home after we have already agreed on a price. That is not how I work, and that is not their intention.
I advise my clients that home inspections are for latent defects—things we can’t see as we walk through a home or things that we may have missed that are large and will cost money or affect the actual overall value of the home. This can be things like roofs, foundations, wiring, or leaking windows.
We work with several very good home inspectors who do very thorough inspections. They then give you their opinion. But they are not meant as a negotiating tactic to get the seller to lower the price.
When you’re buying a resale home, or something that isn’t brand new, you have to expect that there is going to be some upkeep, and some things that aren’t going to be perfect. That is already negotiated into the purchase price. We talk about this when we are putting an offer together and during the back-and-forth negotiation with the seller.
If we do go through and find something such as water penetration or mold in the attic,that is when we can regroup and decide if the home is right for you and at what price. You can figure out how much it is going to cost to have the issue fixed and we can have the seller and abate the price correctly.
Another good reason to have an inspection is that it gives you another two and a half to three hours to get to know the home better. Home inspectors also give you a list and walk you through all the systems of the home so you have a better idea of where things like the water shut-off valve are located.
If you have any other questions about home inspections or real estate, you can contact me any time. I look forward to speaking with you soon.