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Truthfully, most lenders will require a home inspection for loan approval. But even if my clients are not getting loans, I always encourage both my buyers and sellers to invest in one. A home inspection checklist can be a valuable tool when you’re selling a property.
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Most inspectors want the potential buyers to be with them during the inspection to explain the good, the bad and the ugly of the house they are potentially buying. Tonini accommodates their schedules by even doing inspections on the weekends, to make sure her clients are with her during the inspection. Amy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content.
Is waiving my home inspection a mistake?
Still others will refer you to an outside expert to do that work. Your real estate agent might offer to give you some home inspectors' names. He may be perfectly well-meaning—or not—but the references present a conflict of interest.
What don’t inspectors do?
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They should also be on the lookout for any electrical wiring that looks problematic and could cause disruption down the road. Let’s dive in to get an understanding of what a home inspector does, what details they look at and the ones they don’t. Navigating the world of home inspections can be filled with uncertainties. Let’s address some of the most pressing questions you might have. Home inspections may seem overwhelming, but they’re important to buying. Although these areas may cause worry, remember that the inspection aims to inform, not intimidate.
A typical home inspection can cost anywhere from $200 - $500, with the national average sitting right around $336. This may seem like an unnecessary expense, but a thorough home inspection can save you from an unwise purchase and possibly costly repairs in the future. Put another way, the home inspection fee is an investment in peace of mind.
Is the home inspection fee included in closing costs?
You can also ask friends and family for recommendations, or check out ratings and reviews of home inspectors in Open Book, Redfin’s resource for service providers. Structural damage will probably be a deal breaker for most clients unless they’re flippers who can fix major issues themselves. Where I work here in Florida, termites cause a lot of structural damage. If your home inspector finds major issues during the home inspection, it can save your clients money by avoiding additional inspections.
Roof / Attic
Sometimes the lender will not approve a loan with major issues, and insurance companies may deny coverage in certain circumstances. That part of the homebuying process that causes sleepless nights for buyer’s agents. Because the home inspection can make or break a real estate transaction. If you’ve ever lost a deal thanks to a home inspection, you know the heartbreak. Regardless if you’re a first-time home buyer or a seasoned homeowner, a professional home inspection is typically a good practice. But you might as well go for any quick wins that are available.
This makes you aware of what costs, repairs, and maintenance the home may need immediately and necessary ones in the future. If you aren’t comfortable with the findings of the home inspection, it typically presents you with a chance to back out of the contract to buy. InterNACHI's certification requirements include having candidates pass its Online Inspector Examination and submit four mock or simulated inspection reports to the organization. A real estate agent wants to close the deal, and that incentive may be at odds with that of the inspector, who gets paid for his report. If the report raises too many issues, or serious ones, it can be used to negotiate a lower price or even scuttle the deal.
What Does a Home Inspection Include?
This shouldn’t be a problem for any professional home inspector. As a trusted adviser to your clients, you should have a handful of vetted inspectors you can refer them to. But they will still need to interview candidates and make their own decision.
This is your client’s opportunity to absorb as much information as possible as they walk through the home together. Encourage them to get the most bang for their inspection buck. Once the home inspector has tallied up their observations and sent over the report, your clients may have questions. They should find out before they make a hiring decision whether their home inspector will be available to answer those follow-ups. Encourage them to seek out someone who is a good communicator and can go over the report in detail, alleviating their fears about items on the inspection report.
Home sellers sometimes purchase a home inspection before listing their property for sale. The goal is to proactively find any issues with the home and then make repairs, or disclose the problems and reduce the price. Ideally, the second inspector won’t find any surprises and the sale will stay on track.
A 24-hour call-back inspection will be performed after an emergency closure or suspension of license. Get the whole story at our restaurant inspection database. The play, which runs from May 3 to June 15, sees the town's governor and his cronies desperately try to bribe the 'inspector' in order to cover up their crimes. We'll show you why your listing may not be selling and how to solve the issue without cutting the price (& cutting into your commission). Articles and reviews at The Close are editorially independent. We may make money when you click on links to our partners.
Also, home inspectors need the authority to require major repairs or modifications. The role of a home inspector is to identify defects, not recommend repairs. We can’t force a homeowner to make any repairs, including major issues.
The home inspector looks for the overall condition of the home, checking the electrical, plumbing, foundation, and roof of the home. An appraiser tries to ascertain the market value of the home. They both inspect the home, but for very different reasons. Some certified home inspectors offer additional services such as radon testing and will recommend asbestos testing for homes that are suspected to be at risk.
Depending on how much capital your clients have in the bank, there may be a way to negotiate with the sellers in this situation. But your buyers will need to know the potential outlays before moving forward. If repairs are too much, buyers may have to move on from the home and continue their search. It’s practically a guarantee that the inspector will point out issues during the inspection that your clients aren’t familiar with. Make sure they understand that those are golden opportunities to tap into the advanced knowledge that a good home inspector has.
The final walkthrough is your last chance to ensure the seller followed through on repairs to your new home before closing. Having a functioning HVAC system is important no matter the season. You’ll need either heat or air conditioning on any given day. Inspectors should make sure the HVAC installment was done correctly and ensures there aren’t any suspicious smells or cracks. As with any electrical system, there are many wires and cables to inspect. Your inspector should double check that all wiring looks safe and was installed correctly.
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