So, Your offer was accepted. It's an exciting and anxious time. You really like the home and would love to move in right away! But wait, theres an important piece of the puzzle that your Realtor® will strongly consider you do. Get an inspection.
The home may seem perfect, and from what you can tell there is no damage, and everything is in fine working order. Not so fast. Most of us are not trained to see the small or big things that may be wrong with a home. Great, so now I've got another expense. This home is going to kill my budget before I even get into it!.
But lets take a step back and go over why it is done, what is involved, and how much it costs. It is important to understand what a home inspection is, and how it could effect the outcome of the sale of your home, or the purchase of a new one.
What is a home inspection?
First of all, a home inspection is not an appraisal. That is a whole other process which we'll cover in another post. A home inspection is an objective visual examination of the structure and systems of a home by an impartial, neutral third party not related to the buyer or seller. The inspector will take between two and four house (depending on the size of the home) and makes a full report that you will usually receive within24 hours. This report will show you what is wrong with the house and if it is serious enough to prevent a sale.
What Does a Home Inspection Include?
The main purpose of the inspection are to evaluate the physical condition of the home, including structure, construction and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes. Bottom line: a home inspection is to inform the buyer of any readily visible major defects in the mechanical and structural components, and to disclose any significant health or safety issues.
A home inspection includes a visual examination of the house from top to bottom. There are hundred of items a home inspection covers, including general structure, flashings, gutters, framing, central cooling and heating, chimneys, plumbing and electrical systems, drainage, water pressure, bathrooms and laundry facilities, foundation, common safety devices such as smoke alarms, fireplaces and wood stoves, kitchen and kitchen appliances, general interior, attic, insulation. ventilation, roof, and exterior.
Will they see and report on everything? An inspector cannot report on defects that are not visible. Defects hidden behind finished walls, beneath carpeting, tiled floors or behind storage items and in inaccessible areas, and even those that have been intentionally concealed. Systems that are seasonally inoperable (swamp coolers, air conditioning, furnaces) will not be turned on during the inspection. I've had one inspector tell me that it could damage the air conditioner if it is turned on when it is too cole outside
How Do I Find an Inspector?
Your Realtor® isa good place to start. Chances are they work with several qualified inspectors and if one is busy or on vacation they can refer you to another one. Friends, family, the phone book, or online is also a good place to find one. Ask them for references before they begin the work. You can also ask them about their experience and their background.
Can I be there for the Inspection? Absolutely! In fact it is encouraged and a standard practice. It’s a good idea to be present during the inspection several reasons: First, you can ask the inspector questions during the inspection. Also, the inspector will be able to point out areas of potential trouble, which will mean more to you if you see it with your own eyes than read it in the inspector’s report later.
WiIll the Seller Be Making The Repairs?
No the seller is not required to make any repairs. However, the buyer can use the inspection report as a negotiating tool. We don't advocate that you renotiate your deal, but it is the only opportunity for the buyer to get repairs done which thes eller may agree to do. And it is a time where you can back out of your contract if the home is not up to your standards Sometimes they will just drop th eprice in lieu of making the repairs themselves
How Much Does An Inspection Cost?
Here in Sedona you would look to pay about $500.00 for the inspection of an 1800 square foot house the inspection. And believe me folks, it is worth every penny to have your biggest investment examined by a professional.