Home Inspections fill both buyers and sellers with dread. Both parties want the process to go smoothly, but sometimes deals are broken after a home inspection. A home inspector usually checks everything and can reveal defects in the property you may not even know you have.
What is a Home Inspection?
A home inspection is a non-invasive, unbiased, and in-depth examination of your home’s structures and systems. It is a key part of the home selling process. A home inspector identifies issues on your property that a buyer should be aware of before they buy. It gives detailed information about the overall condition of the home by an unbiased third party. The home inspection is meant to ensure both parties know the home’s condition before closing.
When will your home be inspected?
When an offer is made on your home and you accept it, you are officially “under contract.” The contract spells out the terms of the home inspection. It is usually completed within days of contract acceptance.
Who hires the inspector and pays for the home inspection?
The buyer of the property has the option of having a home inspection. The buyer wants to know the condition of the property before purchase and what repairs may need to be completed after purchase. The buyer hires the home inspector, and usually pays for the inspection.
How long does a home inspection take?
A home inspection can take anywhere from two hours to two days, depending on the size of the property and its condition. A condo or townhouse will take less time than a two-story house. Timing can also depend on the experience level and thoroughness of the inspector. The average is three (3) hours.
What will the Home Inspector Inspect?
The home inspector will look at every area of your home. They check the heating and cooling systems, water systems, sewer systems, plumbing, wiring, and roof. Every area will be scrutinized from the ground to the sky. Home inspectors will not open walls.
Seller Tips before listing:
Avoid surprises by having a pre-listing inspection so you can identify issues ahead of time.A pre-listing inspection will point out issues you may not even know you have; alert you to any safety issues before people start looking at your home; helps your agent realistically and more accurately price your home if problems exist; allows you time to hire a contractor if needed; and adds documentation to your seller’s property disclosure. You can follow along with the inspector at a pre-listing inspection.
By making some minor repairs your home may sell quicker and for a higher price!
Make sure your listing agent makes the inspection available on the Multiple Listing Service (MLS)
Seller Tips at home inspection:
Ensure there is easy access to all areas, from the front door to the back of the yard.
Turn on all systems (water, electricity)
Empty appliances like dishwashers, dryers, washing machines.
Have the Seller’s Property Disclosure available to the home inspector.
Leave the property for a few hours and take your pets with you.
What happens after the inspection? The inspector will create an inspection report summarizing the findings and make comments on whether the issue is a safety risk, a repair recommendation, or a minor issue. Sometimes the inspector will ask for different specialists to come in and assess an issue, such as a roofing company or mold expert. The buyer’s agent and buyer will go over the inspection findings and determine if certain items should be fixed prior to closing. The report will show Inspector Observations and areas Not Inspected. Some reports will explain how an item was inspected and why it matters to a buyer. The buyer’s agent will submit an Inspection Objection Notice which gives a description of unsatisfactory conditions on the property and asks that the seller fix before closing. The buyer’s agent will submit the Objection Notice to the listing agent and together with the seller determine which items the seller is willing to correct/fix. What does the seller have to fix? The seller doesn’t have to fix anything. With that being said, the seller is always responsible for disclosing any known defects to the buyer. If the deal falls through because the seller didn’t want to remedy any findings, the defects then become known, and the seller must disclose them to the next buyer. The seller has the choice of 1) accepting the buyer’s requests, 2) rejecting the buyer’s requests, or 3) accepting some and rejecting some. Generally, health and safety issues should be addressed at a minimum. Other reasonable requests that may require care or repair can be negotiated depending on the extent of the damage and the type of repair. It’s important that the seller and buyer have a mutual agreement. In writing.