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When you’ve found the property you want to buy, a question you should always ask yourself is, “OK, what’s wrong with it that is not apparent or obvious?”
You often want more time to get a knowledgeable, certified person to check it out before making the offer or make a lower offer in case of future repairs, which may result in the offer’s rejection. This uncertainty can usually be resolved by the home inspection contingency clause in your purchase agreement. It is a clause in a real estate purchase agreement that allows the buyer to have the property inspected by a professional certified home inspector, usually within 10-14 days of an accepted offer, before finalizing the sale. The home inspection can identify actual and potential problems with the property that are visible or may not be readily apparent during a walkthrough or have not been disclosed by the seller. Additionally, a mortgage lender will require a home inspection on most purchases before approving the loan. Because you will be paying for the inspection and the report, it’s your choice who conducts the inspection.
The American Society of Home Inspectors is a national organization that promotes the ongoing education and certification of qualified home inspectors. Those who belong to this organization must demonstrate at least 250 independent inspections and pass a national exam. You may wish to ask the inspector chosen by either you or the lender about his or her certifications, but regardless of the choice, the inspector should address all of the important aspects and features of a home, including:
ROOF AND EXTERIOR
Examine the roof, gutters, downspouts, siding, windows, and doors to ensure they are in good condition and functioning correctly.
FOUNDATION AND STRUCTURE
Evaluate the foundation and structure of the property, including the walls, floors, and ceilings, to ensure that they are sound and stable.
PLUMBING
Inspect all visible pipes, drains, and fixtures to ensure they are in good condition and functioning correctly. If some or all of the plumbing is not up to current code, note them in the inspection report.
ELECTRICAL
Evaluate the electrical system, including the wiring, circuit breaker panel, and outlets, to ensure they are in good condition and up to code. Again, the items not up to code should be spelled out in the inspection report.
HVAC
Inspect the heating, ventilation ducts, and air conditioning systems to ensure they are in good condition and functioning correctly. A good inspector will also check for excessive dust or even mold in the ducts.
INTERIOR
Evaluate the property’s interior, including doors, to ensure they are in good condition and functioning correctly. A really good inspector will note broken windows and obvious cracks in the ceiling or walls, which could indicate an issue with a foundation that has settled since the home’s construction. It may be something or nothing, but at the least, it’s always good to know.
ATTIC AND CRAWL SPACE
Inspect the attic and crawl space to ensure they are adequately ventilated and insulated. Where local code requires, check for radon, mold, excessive moisture, or even standing water in the crawl space.
A home inspector doesn’t pass or fail a house but submits a report explaining all issues noted and ones that must be addressed to bring the home up to code. Good inspectors will grade them as minor or significant. It’s also important to remember that in many locations around the country, a seller must bring various home features up to code before the sale can go through to closing.
With the report in hand, the buyer can decide to take one of four courses of action:
- Accept the issues noted and move forward with the purchase
- Negotiate with the seller to have the issues that the buyer requests repairs for (unless the property is being sold “As Is”)
- Receive a price reduction to compensate for the cost of repairs
- Walk away without losing the earnest money deposit
It brings peace of mind to a buyer to know the issues that an inspection report will identify. I can connect you with your choice of excellent certified home inspectors who will conduct a thorough inspection and issue a valuable report to help you decide the next step in the purchase process.