Real Estate Today
This week I got a letter from a general contractor in Mapleton who does home inspections. His letter prompted me to consider the question: “Why do I need a home inspection?”
Buying a home is probably the largest single investment that most people buy. A home can have many surprises that even the current homeowner might not know about. Most home sellers will have given their Realtor a written disclosure of the condition of the home and lot on which it sits at the time of the listing. A disclosure is certainly required in most Realtor-originated purchase contracts.
You’ve found a house you like, but the seller may not have obtained a home inspection at the time of their purchase. Say they bought a new home with a builder’s warranty and thought they didn’t need an inspection—but the home is now ten years old and they want to sell it.
You come along as a first time buyer. You are nervous about making a first time purchase. Your Realtor suggests a home inspection. The inspector will make an inspection of all areas of the home. They will inspect the roof, wiring, insulation, plumbing, walls, ceilings, floors, windows, doors, basement, and structural components.
Upon the completion of the inspection, you will receive a written report identifying any detected problems, and recommending remedies. This will allow you to make decisions about your purchase with more confidence. The report can also be used in firming up your negotiations with the seller as to who will take care of and pay for the corrections in the problem areas.
If you are planning to sell your home, a home inspection can also be a good resource to assist you in marketing. You can give the buyer a copy of the report, which may set aside any concerns about condition. The cost of the home inspection is usually borne by the party making the request. It can be a negotiable item in the purchase contract. The cost of an inspection usually ranges from $300-500 in most cases.
Obtaining a home inspection is usually a wise choice in the purchase process. Ask your Realtor for a list of recommended providers. Until next week keep smiling. Email your questions to email@example.com