Home Inspections: Protecting a Buyer’s Interests

The home inspection is crucial for home buyers. Here's what you can expect when going through this process.

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Home Inspections: Protecting a Buyer’s Interests

Posted by Gary Ashton: RE/MAX ADMIN on Monday, May 1st, 2017 at 2:41pm.

Inspecting Home for Sale One of the more important aspects of the home purchase process is the crucial step of getting a home inspection. While some buyers may see this as another service to skip in order save money, it can have the potential to completely change the rest of the transaction.

During a home inspection, a licensed professional will inspect the home in question from top to bottom, and look for any current problems or clues that there might be issues down the road. If something comes up during the inspection, it could save a buyer from huge financial headaches later on.

What Could It Reveal?

There are several key areas that tend to be problematic if a home has not been maintained or updated properly. A home inspection is the best chance a buyer will have to uncover these issues before moving ahead with the sale.

Many times, plumbing problems will be uncovered during a home inspection. This could be a result of older fixtures that haven’t been updated yet, or can be an indication of overall poor home maintenance. No matter what the cause is, leaking or outdated plumbing might be expensive to fix later down the line. If the problem isn’t addressed promptly, a total system replacement might be necessary.

Another common problem that home inspections reveal is degradation of roofing materials. Different types of shingles have different life expectancies, yet it’s important to know how soon the roof will need to be replaced. Sometimes, home inspectors will find that the previous repair work was done poorly and will recommend new roofing right away.

At the conclusion of a home inspection, the inspector will provide a thorough report detailing their findings. This report can sometimes be in excess of 40 pages and is instrumental in the next stages of the purchasing process. It is essentially the proof a buyer needs if they choose to request that the seller make repairs prior to the purchase of the home.

How To Proceed With A Poor Inspection Report

Finding out there are problems with a home doesn’t mean it should stop the sale entirely. Many times a buyer will choose several of the most important repairs and ask the seller to complete them before they finalize the purchase. Other times, sellers might sell the home at a lower price to account for the cost of work that needs to be done, or could pitch in more money toward closing costs.

If the repairs seem too overwhelming or extensive and the seller isn’t willing to negotiate, this may be the time for the buyer to back out of the sale. Just think about the ramifications of purchasing a home that hasn’t been inspected, only to find out that you wouldn’t be able to cover the cost of the repairs. In any case, the report serves as a jumping off point to either make negotiations or to find another home to purchase.

Offering Peace Of Mind For Years To Come

Think of a home inspection as something that provides a report card for a home. Depending on the level of work needed to bring the house up to par, it may or may not be worth your while to proceed with a purchase. It helps to keep a balanced perspective and remember that the seller probably won’t agree to repairing every single thing that comes up on the report, yet they could potentially address major issues before the sale is complete. Overall, the importance of a home inspection can’t be stressed enough, and the report it produces will help assist in making a final purchasing decision.

 

Gary Ashton

The Ashton Real Estate Group of RE/MAX Advantage

The #1 Real Estate Team in Tennessee and #4 RE/MAX team in the world!

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