Our Real Estate Blog
If this is your first home sale, you might be wondering about what your requirements are in terms of home inspections. A vital step in the closing process, professional home inspections are typically included in real estate contracts as a contingency (the sale is dependent upon their completion).
But, are there any situations in which a seller would get a home inspection?
In today’s post, we’re going to talk about why sellers might want to get their home inspection and how it could be useful to the home sale process overall.
To diagnose problems with your home
When you’re deciding on the asking price of your home, you’ll want to take into account all of the things that could potentially drive that price down. Inspectors will look for a number of issues in your home, which can save you from any surprises when a potential buyer orders their inspection of your home.
The further along in the home sale process when you discover an expensive repair that needs to be made, the more complicated it makes your home sale.
So, if you’re in any doubt about whether your home will need repairs now or in the near future, ordering an inspection could be a safe option.
What do inspectors look for?
When inspecting your home, a licensed professional will look at several things:
Exterior components of your home, such as cracks or broken seals on exterior surfaces, garage door function and safety, and so on.
The structural integrity of your home; checking your foundation for dangerous cracks where moisture can enter and cause damage in the form of mold or breaks in the foundation.
The roof of your home will be checked for things like broken or loose shingles or nearby tree branches that could damage your home or nearby power lines in a storm.
The HVAC system will be tested to make sure it’s running properly and efficiently and also that vents are clean and clear of debris.
Interior components of your home will be checked for safety and damage from things like pests and water damage.
Will the seller still order an inspection if my home just had one?
An inspection contingency is built into almost all real estate contracts to protect the interests of the buyer and seller alike.
In most circumstances, a buyer will want to get their own inspection performed. After all, they don’t know who you went to for an inspection and whether they were licensed in your state.
The bottom line
Ultimately, if you’re planning on selling your home in the near future and aren’t sure if your home may have any underlying issues, it’s usually a good idea to get an inspection to make sure you can plan for any repairs or inform potential buyers of any issues with your home.
A home inspection can make or break a property sale. If all goes well during a home inspection, a buyer and seller can proceed with a transaction. Conversely, if a home inspector discovers major problems with a house, a property sale may be in jeopardy.
As a homebuyer, you'll want to do everything possible to ensure a home inspection delivers valuable insights. With in-depth home insights at your disposal, you can determine whether to continue with a home purchase or reenter the housing market.
To ensure a successful home inspection, let's take a look at three common home inspection mistakes, and how a homebuyer can avoid these problems.
1. A homebuyer hires an inexperienced home inspector.
When it comes to hiring a home inspector, it is always better to err on the side of caution. With an experienced home inspector at your side, you can boost the likelihood of a successful home inspection.
Evaluate a variety of local home inspectors. Then, take a look at each home inspector's background and expertise to narrow your search.
In addition, if you feel comfortable with a home inspector, reach out to this professional directly before you make your final hiring decision. That way, you can request client referrals and gain additional insights to help you make an informed selection.
2. A homebuyer does not attend a home inspection.
A homebuyer is not required to attend a home inspection. However, attendance usually is a good idea, regardless of your homebuying expertise.
Remember, a home purchase is one of the biggest transactions that you likely will complete in your lifetime. If you want to ensure a home is a viable long-term investment, it certainly pays to walk around a property with a home inspector and conduct an in-depth evaluation.
In many instances, attending a home inspection may enable a homebuyer to gain home insights that might not be included in a home inspection report as well.
For example, a home inspector who identifies issues with a property may be able to give a homebuyer an estimate about how much it will cost to complete myriad property repairs. These insights are exceedingly valuable and can help a homebuyer determine whether a house is a worthwhile purchase.
3. A homebuyer ignores a home inspection report.
After a home inspector completes a property evaluation, this professional will provide the homebuyer with a home inspection report. Then, a homebuyer will have a set amount of time to review the report to determine whether to proceed with a home purchase.
A home inspection report contains plenty of valuable insights, and as such, should not be ignored. Instead, a homebuyer should spend time evaluating the report and learning from it. And if a homebuyer has any questions, he or she can reach out to the home inspector who provided the report for answers.
Lastly, if you need help planning a home inspection, you should employ a real estate agent. By hiring a real estate agent, you'll have no trouble getting in touch with the best home inspectors in your area.
Getting a home inspection is usually built into the purchase contract for most real estate transactions. A home inspection contingency protects the buyer from getting any unwelcome surprises after they buy the home (think water damage or an HVAC system whose days are numbered).
In some cases, home inspections are the defining moment between a sale or moving on to other options.
In today’s post, we’re going to talk about the reasons you might want to get a home inspection whether you’re buying or selling a home.
Home inspections for buyers
There’s a reason most real estate contracts come with an inspection contingency. Expensive, impending repairs on a home can greatly affect how much you’re willing to offer on a home, or if you’re willing to make an offer at all.
Some buyers opt out of an inspection. This can be done for numerous reasons. The most common reason is that the buyer has a personal relationship with the seller and has faith that they are getting the full story when it comes to the state of the house. The other reason is that a buyer is trying to gain a competitive edge over the competition on a home, sweetening the deal by waiving the inspection and paving the way for a quick sale.
Both of these reasons have their flaws. For one, the seller might not even know the full extent of the repairs a home may need and an appraisal might not catch all of the issues with a home.
Another reason a buyer may waive an inspection contingency is because the seller claims to have recently had the home inspected. While this may be true, buyers should still opt to hire their own professional. This way, they can guarantee that the inspection was done by someone who is licensed and has their best interests in mind.
Home inspections for sellers
As we’ve seen, home inspections are typically designed to protect the interest of home buyers. However, sellers also stand to gain from ordering their own home inspection.
If you’re planning on selling within the next six months to a year, it will pay off to know exactly what issues the home currently has or will have in the near future. This will give you the chance to make repairs or address issues that could cause complications with your sale. You don’t want to be on your way to closing on an offer to suddenly realize you need to pay and arrange for a new roof.
So, whether you’re a buyer or seller, home inspections can be immensely beneficial to learn more about your home or the home you’re planning on buying. It will help you be prepared to make repairs if you’re a buyer. Or, if you’re a seller, you can make a plan to negotiate repairs with the seller based on the findings of the inspection.