When purchasing a home, buyers may be tempted to save money by skipping the final inspection before signing on the dotted line.
However, taking that final step may help prevent purchasing the “American dream” from turning into a costly nightmare.
Spending the $300-$500 it may cost to hire a certified home inspector could reveal major issues not discerned in the flush of buyers falling in love with a home they are planning to purchase. Home inspections can be used as a contingency in your contract that allows buyers to back out of a purchase offer, free of penalty and within a certain time frame, if significant defects are revealed by the inspection.
Home Inspections Can Reveal Purchase Pitfalls
Inspections can reveal not only the cost of repairs and maintenance that are required immediately but also those that may been needed in the future. Depending on what the inspection reveals, these costs could be in the thousands.
Inspections also can reveal safety issues such as the presence of toxic mold, radon and carbon monoxide. In addition, inspections can determine whether additions or rooms were altered without a permit and are up to code.
Inspections also can provide the homeowner with an opportunity to learn about what procedures should be followed to make sure the home is properly maintained over the course of ownership. The inspection report could present an opportunity for buyers and their agents to negotiate for repairs needed and, if appropriate, request a price reduction.
When buying a newly constructed home, it is just as important to have a thorough inspection during the construction process as it is to have inspections of homes that have already been lived in. For example, having a licensed inspector conduct an inspection before drywall is applied can prevent covering up of mistakes. Final inspections can make sure all finishes and mechanicals meet expected standards.
Information in the final report can provide a guide for the homeowner to anticipate costs and the “shelf life” of some of the home components and budget for them in the future.
It is extremely important to work closely with realtors to understand what requests related to the inspection report are appropriate to be submitted to the seller in order to negotiate a better deal. By working hand in hand, buyers and their Realtor can present a united approach toward making sure results of the inspection can be taken into consideration before the closing documents are signed, sealed and delivered.
For more information on home inspections for Snohomish County homes or real estate, start here by contacting me today.
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