You may think you are the only one who can make an offer on a house. There’s so much more to the world than you might realize.
Here is where a home inspection can help.
The most crucial stage in the escrow process is the home inspection. It determines the direction of your deal.
Home buyers can get reassurance from a professional by inspecting the property and identifying any problems that may exist before they close on the house.
The buyer of a home can decide whether or not they want to close the deal, or ask that the seller make repairs. They may also opt to cancel the deal.
A Home Inspection in Temecula involves hiring a professional to perform a visual examination of the house. This is to determine if there are any problems with the systems or physical defects. This includes:
- Grounds and exterior structure
- Basement
- Attic
- Bathrooms
- Kitchen
- Interior rooms
- Electric systems
- A/C
- Plumbing
Continue reading to find out more about home inspection with this step-by–step guide. This will help you to be ready to cross the bridge when you reach it.
Home Inspection Contingency Is Placed
A home inspection condition (also known as a “due diligence contingent”) allows the buyer to inspect the house within a set time, usually between 1-2 weeks.
It protects the buyer. He can cancel the contract and negotiate repairs based upon the findings of a professional inspector.
Sometimes, an additional cost-of-repair contingency may be included with the inspection contingency. This limits the amount of repairs that can be done. The buyer may terminate the contract if the home inspection shows that repairs will exceed this amount.
The cost-of-repair contingent is often based on a percentage of the sale price, such 1% or 2.
The Home Inspector is Chosen
Next, you need to hire a professional home inspector. Many real estate agents have a relationship with inspectors and can recommend an inspector in your area.
You can also research home inspectors online and make your decision. The home inspector is usually chosen by the buyer.
It is important to make sure that the person you hire is insured and bonded, and that they only inspect your home and not do any repairs or renovations. This will ensure they don’t try to force you into costly repairs.
Also, make sure you understand what the inspection entails and how long it takes. You can also discuss any additional inspections that you might need and ask them if they are available to do all.
A price should be agreed upon. A home inspection can cost anywhere from $250 to $450 depending on its size and location.
Inspection Day is Here
It’s finally the day of your home inspection! Although your home inspector is an expert, there are still things that you as the buyer can do to make sure the process runs smoothly.
First, voice your concerns and call attention to any issues you see around the house.
Attending the home inspection is a good idea. This will allow you to see any damage and ask questions.
The Home Inspection Report is Published
You will receive a comprehensive report after the inspection. It includes information about the property and any issues that need to be addressed. The report will include photos and descriptions of all issues as well as an overview that highlights important areas.
A good inspector will take time to explain the findings and walk you through the report. They may also include any minor damage or wear they find in your home.
Their job is to note every flaw. Your report will likely contain many issues. However, this does not necessarily mean that every issue should be considered a concern. They will be able help you identify what might be dangerous or a red flag.
Buyer asks for repairs or a discount
The home buyer can choose from a variety of options based on the findings of the home inspection. You can ask the seller to pay for the costs of repairs if there has been significant damage. This is also called a contingency. You can also negotiate a price reduction.
It is a good rule of thumb to not negotiate major repairs. It is likely that the buyer will be responsible for any repairs that can be described as normal wear.
The home inspection will provide you with a level of transparency that allows you to make an informed decision about purchasing your home.
