Home Inspections

A home inspection is a third-party professional inspection of the property you attend to buy. Even though these inspections are not mandatory it can benefit you to receive them. Benefits include evaluating the structure and safety of the property to ensure your money is going towards a secure investment.

Include a home inspection “due diligence” contingency in your sales contract. This give you a period from the date your sales contract is signed to perform these types of inspection. This period can vary, however it needs to be adequate enough to give you time to find an inspector, set up appointments, review your report, and decide how you would like to proceed. Another great tip is to attend your home inspection but I will touch on that in just a minute.

Home inspections generally cost between $300-$400, depending on the size of the home, and can take up to four hours. These inspections will include things like heating/air systems, plumbing, electrical, roof, foundation, and many more structural features. After the home inspection is completed, both the buyer and seller will receive a detailed report of the findings. This is when you, the buyer, should go over this report carefully.

So, what can you gain from attending these inspections? As a new home buyer, you may not know much about the systems in your new home, like heating/air and plumbing. A home inspector is a professional with these systems and will be able to explain them thoroughly to you. Like what a pilot light is and the importance it has on your heating system. Attending these inspections, you will be able to view what gets inspected and what does not. Some inspectors may only look at the roof from the ground while others will physically get on up there to look for issues. Hiring a reputable inspector will help ensure everything is done correctly so you get the most out of your money spent, because leaky roofs can be very costly. When buying an older home pipes do get worn and break. Knowing where all the shut off valves are can be a critical factor between a flooded basement or just a small puddle. (I say this one from experience)

Additional inspections you may obtain include asbestos, radon, termite, mold, lead, chimney and others if applicable. All these supplementary inspections can save you money in the long run but are not mandatory. (Keep in mind homes built before 1978 have a larger risk for lead and asbestos based products being used) After you gather all your inspection summaries it is then time to decide what is critical to life and health, costs, and if you can do these repairs on your own.

Once you have attended the inspections, all the reports are in, summaries have been thoroughly reviewed by you, and decided what you can do yourself, it is time to negotiate. Hearing that everything is perfect is a relief, however, that’s not always the case. Receiving a report stating that the roof needs a $5,000 repair is excellent to find out early, since other issues may arise. The repair costs can then be negotiated into the sales price or credited to your closing costs. Another great way to get the repairs completed is to ask the seller to pay for these repairs before you move in or within a time period after, known as a contingency clause. If no deal can be made, it may be best to cancel your purchase contract and back out of the deal.

After all, inspections can be expensive but are not as expensive as the repairs that may arise without them. If you are looking for a reputable inspector or are in the market to buy/sell your home contact me today and I would be glad to help you:

P: (618) 554-0052

E: austinyagerrealty@gmail.com

Have a great day!

Sources:

Angie's List staff. “Why You Should Be Present During a Home Inspection.” Angie's List | Join for FREE to See 10 Million Verified Reviews, 9 Dec. 2015, www.angieslist.com/articles/why-you-should-be-present-during-home-inspection.htm.

Miller, Kevin. “Home Inspection Checklist: What Homebuyers Need To Know.” Forbes, Forbes Magazine, 23 Aug. 2018, www.forbes.com/sites/forbesrealestatecouncil/2018/08/23/home-inspection-checklist-what-homebuyers-need-to-know/#70b1f9a57b4e.