Buyers often bring in a professional home inspector, after the offer on a property is accepted, to ensure that the building they purchased doesn’t have any issues. This inspector inspects the house and details a report helping them decide how to proceed on it further. When unsatisfied with the report, the buyer can either cancel the contract or terminate this purchase, asking for the repairs to be completed; they request a price reduction or credit purchase from sellers to cover repairs.
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Attend the inspection – Most buyers let the real estate agents deal with the inspection and feel it’s not that important to be present. This can prove detrimental. Most real estate sales professionals can do this job for you, but your reliance on them to handle the process alone, can make you lose out on the tips by the inspector.
Check the credentials on the inspector – Formal training is not mandatory in many states for a person to be bonded or licensed. To ensure the inspector is sound enough to do your job, you will have to research on the requirements of the state, it’s stated certifications and required professional designations.
Inspect homes for yourself – The home inspection, most often is the homeowners 2nd or 3rd visit to that property. This also is probably the 1st time that the buyer actually gets to look around properly for a few hours. It’s obviously important, since it’s usually the homeowner’s most money oriented purchase. But shouldn’t you get it done beforehand by yourself? If he enlightens you on something which makes you make you have second-thoughts on the purchase, you’ll be glad you got the building inspection done by a professional.
List all the costs – The home inspector will be making a list of any repair costs that come up. But as a homeowner, you must also be making a list of costs incorporated in the process. Separately add up all the cost of items which you feel might add in to this purchase price. Summing up all these assumed costs to make these upgrades and repairs, you can get an overview of whether the deal will be feasible for you.
Negotiate repairs – Only if you hold a comprehensive list can you expect a comprehensive price. The more detailed your list is, the further you can expect the negotiations to go.
A pre-purchase building inspection happens to be one of the founding pillars to your home purchase decision. Choose your building inspector carefully and ensure that you have got all facts before you to fully commit.