Purchasing a house is an exciting experience, but many times it
can be overpowering simply because there are numerous things to see and think
about: assembling a finance, making regular deposits, searching an attorney to work
the closing and organizing for a home inspection. The buyers have to keep ready
all the cash and be ready for all the formalities, before signing the contract.
The time period post signing the contract is much less.
A home inspection generally consists
of an assessment of the entire house including:
- Structural and foundation integrity
- Windows and Doors
- Exterior Walls and Roof
- Plumbing
- Electrical mechanism
- Air conditioning and Heating systems
- Surrounding of the home and many more factors
In almost all states, sellers are required to reveal any known
material damages like an unbalanced foundation or a sagging ceiling. These are noticeable
damages and easy to be noticed. Sometimes, though, a home has an important damage
which is not easily seen, and the seller is also legally unaware, such as under
the wallpaper mold or an asbestos lining inside the furnace box, which is very
harmful to housing and health of the occupants. At such times, a good home inspector
knows how to inspect the house and get a hold of any underlying damages which
are dangerous and damaging.
You can obviously buy a house without a home inspection, but it
is very risky. If you discover any damage later, then you will have to renovate
it at your expense or hire an attorney to get advice. But all this is very time
consuming and depressing. Therefore, as you know, prevention is better than a
cure, you must do a home inspection before you buy a house.
Hiring a good home inspector could be very helpful to analyze
the housing property condition. In a market, generally the buyer has to pay for
the home inspector, but it can happen that a seller will provide you an
inspector as an incentive. This can happen if the market is slow and in favor
of a buyer. If you want to hire an inspector then you can negotiate as to who
will hire the inspector. If the price is in favor of the buyer, then a buyer
can hire an inspector to check the house, and if the price is a litter higher than
a buyer can at least ask a seller to pay for the home inspection visit.
The home inspection plan is scheduled after the buyer has signed
an agreement to acquire the house with the seller and secured the agreement
with a first deposit. Generally, the arrangements are made quickly, as the deal
has to complete in time and the seller has also moved out of the house. The
market position is also a crucial factor to consider, which drops down or goes
up on a daily basis.
Home Inspection for sellers:
It is a benefit to sellers before he
or she puts the house on the market. You must inspect your house thoroughly and
finish all the required fixes and/or repairs. This increases the quality and the
price of the house. This will give an attractive look to your house and
increase the pool of potential buyers.
You can give your home inspection
report to the buyer, this will increase the confidence and trust of the buyer and
the seller. Good home inspection and finished repairs will increase the
valuation of the house and an appealing house will leave less chance of hard negotiations
on the buyer’s part.
Home
Inspection for Buyers:
If the seller has not done a home inspection,
or if the report is incomplete, then a buyer can choose to complete the home
inspection. It is in favor of the buyer and the buyer will know the actual
condition of the house and how much maintenance it requires. A buyer must be knowledgeable
about three things, which are:
- Assurance
- Maintenance
- Value
These three things can be well known
through home inspection. The usual cost of an inspection differs on the basis
of the size, area, and services given by the inspector.
© Global Realty & Investment Corp
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