Anyone who has ever bought a new house knows how nerve-racking this experience can be. One of the most stressful is the home inspection. This is an inspection that’s done to give you a better understanding of the state in which your new property is at the moment of the purchase.
There are many instances of people not paying attention to the actual home inspection only to discover major defects later down the road. You need to keep calm and level headed during this stage of the buying process, as any decisions can save you from plenty of financial trouble in the future.
Derek from Dawson Property Management wrote this article to help you find out what really matters in a home inspection and how to better deal with it.
What is a home inspection?
A home inspection is a professional examination of the current condition of a property. Only licensed and experienced home inspectors can conduct this inspection. Additionally, their contractual obligations are not inclined to any of the parties involved in the selling of a property.
A home inspector is similar to a referee. He or she is a professional contractor that assesses the condition of the house and looks for any defects and possible safety hazards. Next, he or she compiles an extensive report of his or her findings and informs the potential buyer.
What is in the home inspection report?
It is essential to remember that a home inspection report is not a guarantee of the property’s future condition. It also does not make any forecast regarding its efficiency or life expectancy.
Furthermore, you should not confuse the home inspector with a real estate appraiser. Their report and evaluations do not constitute an assessment of value for the property.
Every home inspection comes with a comprehensive report that is comprised mostly of photographs and inspection checklists that are in accordance with the home’s condition at time of inspection and state regulations. The written report is one of the most important elements of the home buying process.
This evaluation contains the home inspector’s professional examination that you should take into consideration before advancing into purchasing the subject property.
How to approach a home inspection
A home inspection is a crucial part of the buying process, but it should not alarm you. Keep a level head and assess every aspect of it with a composed approach. After all, most sellers will try to work with buyers if major defects or problems are discovered.
Almost any finding of the report has a reasonable solution, so take your time with this stage of the deal.
After receiving the full home inspection report, validate it with the seller’s disclosure. Try to evaluate if there are any discrepancies between the two evaluations.
You will most likely find a few, and nothing major that could damage or break the deal. Usually, most of them require short-term maintenance or are minor imperfections. Consider appropriate solutions for these issues and discuss them with the seller.
What really matters during a home inspection?
There are four major aspects that constitute a home inspection report, and you should consider all of them before signing any contract with the seller.
Any of these issues can have some impact on the deal, so it is best that you take your time to evaluate them correctly. Here is what you should look for during a home inspection:
Factors that may lead to major deficiencies
Aspects that could prevent you from financing, insuring or occupying the house
This category includes large, visible defects of the property on sale. The home inspector may identify anything from structural failures to construction issues that could have a major impact on the immediate condition of the house.
Next, you should look for minor features that could transform into major defects further down the road. It could be a leaky plumbing system, creaky windows, or inadequate ventilation. You should assess all of these issues before advancing with the deal.
If you are about to purchase a property in an area that is susceptible to severe weather conditions, such as hurricanes, tsunamis, or earthquakes, you should consider the aspects that could prevent you from financing, insuring or occupying the house. The home inspector’s report will contain these precious details.
This category includes every safety hazard that you may encounter on a property from outlet placement, to fire hazards, to possible ergonomic and chemical risks.
It is essential that you take into strong consideration every detail in the home inspection report. A correct assessment will enable you to protect your life, your family’s safety, and your future investment.
Remember to look at the big picture, even if the home inspector’s report contains details absent from the seller’s disclosure. You do not need to end a deal because of minor inconsistencies. Try to come to an amicable agreement and further the deal in a way that suits both parts.