Home inspections are one of the final parts of the home buying process, but they can completely change the course of the purchase depending on what the inspector discovers. When you hire a professional to assess the home you are considering purchasing, you should be prepared to encounter some surprises (both pleasant and unpleasant) along the way!
You Can Attend the Inspection
Some home buyers don’t realize that they can attend their home inspection. In fact, missing a home inspection can pose huge problems for the buyer in the future. Attending a home inspection is not just in your best interest as a buyer but should be considered a must-do part of the homebuying process. You will get a chance to answer questions and hear the inspector’s opinion in real time, sometimes exposing concerns with the home that you may not have been able to see with your realtor. Since you are already going to be paying for the expertise of the home inspector, it’s well worth it to show up and shadow them during the inspection. It won’t cost any extra, and you will probably get more detail than you would if you relied solely on their written notes.
You Can Use the Inspection to Negotiate with the Seller
Some repairs are minor, but others will require a significant investment to make. You should always bring the home inspection report to the table to discuss with the seller and your real estate agent. Even small repairs are worth bringing up, as they can get you money off the purchase price or the seller can complete them before turning the keys over to you. In some cases, the things discovered during the home inspection process also might make you want to back out of the purchase altogether. Make sure that you include a home inspection contingency in your offer to prevent being on the hook for buying a home in need of thousands of dollars’ worth of work.
Home Appraisals and Home Inspections Are Different
Some people mistakenly assume that an appraisal will be just as thorough as an inspection. In reality, both are designed to serve two separate purposes. In one survey, 20% of homeowners who had only an appraisal thought that that included an inspection. Remember that an appraisal is designed to spot problems and come up with a home value, but an inspection is designed to go in-depth, find problems and suggest solutions.
Partner with the Okeke Team
Whether you’re a first-time home buyer or looking to sell your home, the Okeke Team of Tristar Realty, Inc. is here to help. We specialize in turning your home dreams into reality. To get the buying or selling process started, or just to learn more about what your property might be worth, contact us today by calling (443) 825-0023.