Our Real Estate Blog
A home inspection often plays a key role in the homebuying journey. If an inspection shows that there are no underlying problems with a house, you should have no trouble moving forward with a home purchase. On the other hand, if an inspection reveals a variety of structural problems with a house, you may need to reconsider your purchase decision.
Ultimately, a homebuyer who knows what to expect during a home inspection can plan accordingly. This buyer also may be better equipped than others to accept the results of an inspection and make an informed choice about whether to move forward with a home purchase.
What does it take to achieve the best-possible results during a home inspection? To find out, let's take a look at three tips to ensure you can prep for a house inspection.
1. Hire an Expert Home Inspector
There is no shortage of home inspectors available in cities and towns nationwide. However, employing an expert home inspector will require you to conduct an in-depth search.
When it comes to finding an expert home inspector, it pays to search far and wide. Because if you have an expert home inspector at your side, you can boost the likelihood of identifying major and minor house issues during an inspection.
2. Assess Every Area of a House
Oftentimes, a home inspection takes several hours to complete, and for good reason. In order to fully evaluate a residence, you'll want to be diligent. That way, you can minimize the risk of missing potential problems as you perform a home assessment.
As you walk through your house with an inspector, don't hesitate to ask questions too. In fact, a home inspector may be able to provide insights into home problems and repairs that you might struggle to obtain elsewhere.
3. Collaborate with a Real Estate Agent
A real estate agent can help you find your dream house, as well as put you in touch with the top home inspectors in your area. Plus, this housing market professional likely will walk through a house with you during an inspection to ensure you can get the support you need to make an informed homebuying decision.
Furthermore, a real estate agent is happy to consult with you before and after a home inspection. Prior to an inspection, a real estate agent will help you put together a plan to assess a house. Meanwhile, after an inspection, a real estate agent can discuss the inspection results with you and help you determine the best course of action.
Let's not forget about the assistance that a real estate agent can provide throughout the homebuying journey, either. This housing market professional can help you streamline your search for your dream house, submit a competitive offer on a residence and ensure you can purchase a terrific house at a budget-friendly price.
A home inspection may seem daunting at first. Luckily, if you plan ahead for a home inspection, you can use the assessment to gain the insights that you need to determine whether a house is right for you.
If you recently submitted an offer on a house and received a "Yes" from the seller, you likely will need to schedule a home inspection in the next few days or weeks. Ultimately, an inspection can make or break a house sale, so you'll want to plan for this evaluation accordingly.
Fortunately, there are several steps that a homebuyer can follow to plan for an inspection, and these are:
1. Find an Expert Home Inspector
All home inspectors are not created equal. And if you make a poor selection, you risk missing out on potential home problems that could prove to be costly and time-intensive down the line.
Before you schedule a home inspection, evaluate the home inspectors in your area. That way, you can find an expert home inspector who will go above and beyond the call of duty to assess a residence.
Reach out to a variety of home inspectors and ask for client referrals. Then, you can contact home inspectors' past clients to better understand whether a home inspector can match or exceed your expectations.
Furthermore, a real estate agent can help you find a qualified home inspector. In addition to helping you buy a home, this housing market professional can put you in touch with top-rated home inspectors in your city or town.
2. Make a Home Inspection Checklist
When it comes to preparing for a home inspection, it usually pays to be diligent. Thus, you'll want to put together a checklist beforehand to ensure that you know exactly which areas of a house that you want to examine.
A home inspection checklist may emphasize looking at a house's roof, heating and cooling system and much more. Also, it may be worthwhile to include questions to ask a home inspector in your checklist. This will ensure that you can receive comprehensive support from a home inspector throughout your house evaluation.
3. Consider the Best- and Worst-Case Home Inspection Scenarios
Although you'd like to believe that a home that you want to buy is in perfect or near-perfect condition, an inspection may reveal a wide range of problems. However, if you prepare for the best- and worst-case home inspection situations, you can increase the likelihood of staying calm, cool and collected in even the most stressful post-home inspection scenario.
If a home inspection reveals that there are no major issues with a house, you're likely good to go with your home purchase. Next, a home appraisal may need to be completed, and you'll be on your way to finalizing your transaction.
Conversely, if various problems are discovered during a home inspection, you may need to reconsider your home purchase. In this scenario, you may want to ask a seller to perform home repairs or request a price reduction. Or, you can always walk away from a home purchase as well.
If you need extra help preparing for a home inspection, you can always reach out to a real estate agent too. In fact, with a real estate agent at your side, you can get the assistance that you need to conduct a successful home inspection.
In a high competition market, you may be tempted to do whatever you can to entice the seller to accept your offer. Buyers write offer letters, provide large down payments, or waive the inspection. Sometimes, this strategy includes removing contingencies from your contract.
Beware. Removing contingencies can easily become a nightmare for you as a buyer. Certain contingencies should be kept no matter how much you think you should waive them for enticement.
The Home Inspection Contingency
This contingency is basically universally recommended by realtors everywhere. This contingency allows you to get a licensed home inspector who will check the property. The inspection typically should be done about 7 days from the time you sign the purchase agreement for the home.
Following the inspection, you as the buyer can request that the seller make certain repairs. The seller can either make the repairs or provide a counter offer. If you’re not satisfied or cannot reach an agreement, you can back out of the deal and still get your money back.
Without this contingency, you’ll never know what’s wrong with the home until you move in it. It’s a huge risk to take to move into a home without understanding all of its moving parts. Is the roof stable? Has the basement flooded? Will the appliances last? There are plenty of questions that you might have about a home that can be answered simply through an inspection.
This is an important contingency. Your offer on the property will depend on being able to get the financing you need to purchase the home. With this protection in place, in the event that you can’t get a loan, you’ll get your deposit on the home back. Be sure that the clause specifies the number of days that would be recommended by your lender to have the mortgage approved.
This could be the most important contingency of all. This protection could possibly save you thousands of dollars of a headache. Once an offer is accepted on a home, you’re far from done. The lender will typically order an appraisal. If the appraisal comes in lower than the offer you made on the home and agreed to pay, you may have some problems.
The lender will only lend you what the house is worth. If the appraisal comes in lower, you’ll need to make up for tens of thousands of dollars out of pocket. Make sure you have an appraisal contingency included in your contracts!
As you buy a home, remember how important contingencies can be in the process.
There are few things for a home seller that are more stressful than the home inspection. You hope and pray that everything will come out a-OK in your house so that your buyers will want to continue with the sale without asking for too many contingencies. There’s a few simple things that you can do to make sure your home inspection goes smoothly. The good news is that these tasks won’t cost you a lot of time or money. A few simple actions can save you a lot of grief in unnecessary service calls. Check out these tips to help you get through the home inspection with flying colors:
Check Your Light Bulbs
If you have a light bulb that’s simply burnt out, that could prompt the need for a check of the entire electrical system in your home. Avoid a costly visit from an electrician just by checking your light bulbs and replacing them where necessary.
Check Your Air Filters
The air filters in your home can be easily neglected and be a big problem in the home inspection process. Even if a filter looks a little gray, take the time to replace it. You should check your air filters and furnace filters for any potential problems like tears or excess dirt. For bonus points, you may want to just replace the filters before the inspection no matter how little dirt they have on them. Otherwise, a clogged filter can be a sign that your furnace or heating and cooling system isn’t working properly.
Check Your Sinks
A few dollars spent on some drain unclogging chemicals is a few hundred dollars potentially saved on a plumber. Fill up your sinks with water and see how they drain. If they’re a bit slow, get the chemicals that you need to work on unclogging the drains (such as Drain-o). If there’s a funny smell coming from the drain, be sure to address it. Lemons also work wonders on everything from drains to garbage disposals. Even some baking soda and vinegar can help to clean a drain wonderfully.
Fix Major Repairs Before Your Home Goes On The Market
If you know something pressing needs to be fixed or replaced in your home, be sure to fix it before the home even goes on the market. It’s much easier to take care of things before a buyer’s contingency and a time limit is involved. Although you may be hesitant to spend the money, you should replace certain appliances, fix the roof, or address that creaky floor before the “For Sale” sign even goes out front.