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Home Inspections When Buying a House: Here's what to expect
Congratulations on your accepted offer! Your next step in the home buying process is a crucial one. Having a professional home inspection can help save you money, prevent surprises after you close, and give you the confidence you need to move forward in the homebuying process. Although the Home Inspection is an important part of your journey, you should not expect that there won’t be some issues that need to be addressed. Every home has flaws. The inspection, when done well, can help you sort out the difference between any immediate needs and things that could be put on a to do list for later after you have the keys in hand!
Here's what to expect during a home inspection
A home inspection is scheduled to take place as soon as possible after there is an accepted offer by the seller. A home inspection is an important step in the buying process for a couple of reasons. It allows you to investigate any needed repairs that need to be addressed before closing the deal so you’re not stuck with surprises lurking under the surface of what seems to be a solid home. It also helps you to find any serious issues that may terminate the buying agreement. A home inspection should be done by a reputable inspector that will give a thorough and honest assessment of the home you are buying. Let’s take a look at a few home inspection tips for buyers!
Your Home inspection: What to expect
Who pays for inspections when buying a house? In almost all cases, the home buyer is responsible for the cost and scheduling of the home inspection. The cost usually ranges from $300 to $500 depending on location, age, and size of the house.
Now that you’ve found a reputable inspector, you’re ready for the appointment. Can the buyer be present during a home inspection? Yes! It’s best to meet the inspector at the property for the home inspection. They will often give you an option of being a part of the entire process or they’ll offer a time a bit later for you to join them for the rest of it.
Here are the types of issues a home inspector can find:
Foundation issues, major issues like large cracks and sagging floors.
Water damage, damage the foundation, causing rot, and possibly mold.
Faulty or outdated electrical wiring can be unsafe and may need replacing.
Roofing issues, improper or aging roofing can lead to expensive and labor-intensive repairs.
Heating and cooling issues are common in aging and or poorly maintained heating and cooling systems which can be costly to replace.
Plumbing issues, aging, and or poorly maintained plumbing systems or fixtures can be costly and labor-intensive.
Inadequate insulation and ventilation, when there is poor or lacking insulation in the attic it will result in higher utility bills and make living uncomfortable.
Poor exterior drainage. It is critical that water be drained away from the house using proper grading and correctly installed and maintained gutter and downspout systems.
Mold issues, the inspector will look for signs of mold in the house that may indicate more fundamental problems that need to be addressed.
Window issues, the inspector will make sure the windows are properly installed, and in good working order to protect against the elements and keep utility bills low.
The inspector will provide a detailed list of the issues that pertain to the house you are buying. If the inspector’s findings significantly alter what the buyer’s expectations are for the house, the deal can be renegotiated or terminated.
How many days does a buyer have after a home inspection? Typically the buyer has an inspection contingency in the offer that gives on average seven to ten days to renegotiate or cancel the contract if there are serious issues found on inspection. The seller may agree to fix the issues before closing, or offer a credit to the buyer or reduce the purchase price in lieu of making some or all of the repairs.
Overall, the home inspection is designed to protect the buyer and is a very important and wise step to take in your home buying process! Need some assistance? We would love to help! Team Lund members are able to ensure the best outcome for both buyers and sellers through our experience, availability, honesty, and trustworthiness. We understand each of our clients’ needs. We are eager to find the right home for our buyers and effectively market the home for our sellers. Contact us today to begin the process.