Don’t underestimate the importance of a home inspection. This might seem like a superficial item on your home buying to-do list, but it can make or break a purchase. A home inspection can tell you about the major and minor issues present in your prospective home. The quality, duration, and thoroughness of an inspection can vary widely between service providers.
Your CityWorth real estate team includes a transaction coordinator who will help you schedule your home inspection. It’s very important to get it done as quickly as possible so you can negotiate with the seller to get anything fixed that is needed.
You should be present at the house during the home inspection. You can ask questions to the inspector about the house and find out where everything is located. You can also use this time to get any measurements you need (like windows for blinds or bedrooms for furniture).
Do not take out any loans or change your financial position. Many homebuyers are tempted to buy furniture before closing on your house. Make sure you talk with your CityWorth mortgage banker before making any purchase to ensure it will not adversely affect your loan.
Commonly checked items during a home inspection typically include:
- Heating, air conditioning, and electrical systems
- Interior plumbing
- Roof and attic
- All visible insulation
- Floors, ceilings, doors, and walls
- Basement, foundation, and structural elements
- Major Appliances
The cost of an inspection can also fluctuate depending on the contractor and the services required. According to HomeAdvisor, however, the average cost of a home inspection can range between $279 and $399, with the national average sitting at $339. If repairs are needed, your realtor can negotiate with the seller to fix them, lower the sale price, or even terminate the offer.
Once you receive a copy of the home inspection, review any issues with your real estate agent. If you find problems, you can ask the sellers to make the repairs or lower the purchase price to compensate for you having to make the repairs. If the home inspection discovers something that is a deal breaker, you may choose to walk away from the sale. You can also choose to walk away if the seller does not want to negotiate for the repairs.
Pay attention to home inspection dates
When you submitted your offer, you included a date that the inspection had to be reported and all repairs negotiated. If you are going to walk away from a sale, you will need to make that decision before that date. This is why it is important to get it done as early as possible.