Everything You Need to Know About a Home Inspection

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Everything You Need to Know About a Home
Inspection
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• 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.

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Not Just One Inspection

• A 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
• Chimney
• Electrical
• Inspection for lead-based paint
• Heating and air conditioning
• Foundation
• Roof inspection
• Sewer inspection
• Soil inspection
• Pool and spa inspection
• Well and water systems
• Asbestos
• Radon
• Mold

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• 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.

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What the Buyer Needs to Know

• Youll 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.

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• 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.

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• 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.

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What the Seller Needs to Know

• 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.

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• 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.

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• 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.

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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.
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• Sources
• http//www.amysims.com/
• http//freshome.com/2014/10/24/10-things-every-buy
  er-should-know-about-home-inspections/
• http//amysims.com/blog/everything-you-need-to-kno
  w-about-a-home-inspection