You don’t want to sell your home only to be sought after by the buyer for failing to disclose the “true” condition of your home. A home inspection covers your bases by establishing your intent to sell the house for the best value and your attempt to be completely transparent about any potential causes for concern. Here’s what you can get out of a home inspection done right.
What is a home inspection?
A home inspection is a prudent part of a purchase agreement, so your buyer is fully aware of the quality of their purchase. Hiring a home inspector to look over your residence will include a report on the working conditions of your property’s HVAC, plumbing, electricity, and the general stability of your home’s foundation. Necessarily, a home inspection implies full disclosure between the buyer and seller on the state of a property’s structure and livability.
Why would you need a home inspection?
An overview of your home’s potential for repairs and replacements can back your listing price – it also makes the buyer feel better about paying that price. You can offer the buyer credit for the repairs that they choose to work with after their ownership, like breaks and leaks. However, an inspection creates a greater incentive for the buyer since the price has been verified. It’s a win-win.
Who pays for the inspection?
A home inspection typically costs up to $400, and if you order one yourself, you can include the price of the inspection in the cost of your home. A home inspection is not required for the sale of a property, but if the buyer feels one is necessary after they make their offer, it opens up the possibility for price negotiation once the results come back. Either way, the buyer would eventually be paying for the home inspection. It’s an excellent value for next to nothing.
When should you have one?
When an inspection is done at the outset (i.e., the property’s listing), it should help to smooth over discussions of cost and prevent any potential offer cancellations. It also gives you more of an opportunity to correct any defects with your home.
When you have the inspection report at the initial walkthrough, you and your buyer can then feel confident about the sale of the property, which will help it to go quicker. You can also personally feel assured that you’ve done what you can to limit your liability.
What’s missing from a home inspection?
A home inspection is not so much about a safety check as a general overlook of what a typical buyer might miss on a walkthrough of your property. The inspector notes any faulty wiring and roofing, as well as any discoloration or odors.
It’s not a pass-fail process or a to-do list. It’s not a complete nitty-gritty run-through of your home’s compliance with safety laws. It’s more of a way to identify any deal-breakers and help you find the right buyer for your home. The value of a home inspection lies in the honesty about your property’s shortcomings.
How do you find a reliable home inspector?
Find a trustworthy home inspector by asking for licensing and previous examples of inspections. Accuracy is key to a successful transaction. You want a professional who won’t gloss over aspects of the home that would make a buyer feel uncomfortable, or that would ask for repairs simply because of their relationships with contractors when your property inspector has nothing to hide, neither do you.
In Conclusion
When you hire a home inspector with a solid reputation, you can trust their observations and their reasoning for the price point that they reach based on those observations. It takes much more time and effort to schedule contractors to tackle inspections for each element of the home, and then review and act upon each contractor’s findings. Consult a property manager like RPM Clarity Team for a more comprehensive run-down of what to expect with a home inspection.
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