The Nitty Gritty on Home Inspections
The Nitty Gritty on Home Inspections
The Nitty Gritty on Home Inspections
Does this has have any issues? Is everything in good order? What is that weird noise? Is the AC working properly? The best way to find out is to get a home inspection! Once you’ve found your dream home and your offer has been accepted begins the time for due diligence. A home inspection is just as it sounds—it is an inspection conducted by a licensed home inspector to thoroughly check out the property for you. The inspection is typically paid by a buyer, although in some cases, a seller may have hired a pre-listing inspection. The inspector will test the home’s systems and components (foundation, roof, plumbing, HVAC, electric, etc) to make sure they are performing properly and safely. Basically, an inspection is so you know what it is you are buying, flaws and all!
It’s not required, so why get an inspection? – A home inspection is not required. However, it is highly recommended to anyone buying real estate, regardless of perceived condition. Yes, it costs extra money and no you don’t have to do it. However, some things may not make it onto the seller’s disclosure or the owner may not know there is a problem. Best case scenario, it’s a “clean” inspection with no major issues. Worst case, expensive problems are found that could potentially save you thousands or more down the road. Knowledge is power and there is no such thing as knowing too much about such a large investment.
How much and how long? – Rates vary depending on the inspector, square footage, number of additional buildings and add-on services. Prices typically range from $300-500 and take several hours to complete. You can also add on termite, septic system, pool and storage inspections.
What if it “FAILS?!” – The good news is, this isn’t a pass/fail test. The whole point is knowledge, so you know exactly what you are buying and there are no unknowns as to the condition. That being said, the inspection will uncover problems. Every house has them—it just depends on what they are and what matters to you. You are paying your inspector to find those problems, so don’t be upset when they do! If your inspection uncovers items of concern, you can either proceed ahead with the purchase (along with the knowledge of what needs to be done), negotiate repairs with the seller or cancel the purchase (within the timeframe of your option period.)
Savvy buyers know that even though an inspection costs a little it is worth so much more. It can either save you from making an expensive mistake or it can help you rest assured that you are making a good buy. Either way you look at it, an inspection is definitely valuable information.
Lisa E. Priest loves valuable information and is an East Texas Area Broker/REALTOR® with Picket Fence Realty, Inc. You can reach her via phone or text at 903-948-3343 or read more at BuyPalestine.com.
