The Importance of a Home Inspection
When buying a home, what you see is only sometimes what you get. That’s why it is essential to have a qualified Home Inspector Colorado Springs CO examine the property before making your purchase.
This professional may crawl in messy crawl spaces, maneuver around furniture and boxes or climb on roofs to inspect the condition of a structure. But what exactly do home inspectors look for?
Inspection Reports
Home inspectors write reports after each inspection that include all of the details of their findings. Often, these reports are easy to read and contain color-coded sections that make it easy for clients to interpret the information: green means everything is fine, blue indicates a minor concern, yellow signals a moderate issue, and red means there’s something serious that needs immediate attention.
Home buyers can use the information in the report to negotiate with sellers and to request repairs before closing. The most common issues that arise in home inspections are related to plumbing problems, structural problems and pest infestation. If the report indicates that a home has a major problem, buyers may ask for a credit to cover the cost of repair or even back out of the deal altogether.
Buyers can also use the home inspection report to ask sellers for a lower sale price or other concessions. Depending on the type of issue, it could take some time for negotiations to wrap up.
Sellers can help speed up the process by taking steps to make the house as presentable as possible. They should remove trash and clutter from the property, trim trees and shrubs within 10 feet of the home and clear out storage areas. In addition, they should replace burned-out light bulbs to avoid getting a “light did not operate” report in the inspection.
If the home inspector finds issues with the roof, foundation or basement, the sellers will likely hire a specialist to assess the situation and recommend repairs. These additional inspections and repairs can delay the close of a transaction.
Buyers should be prepared for the inspection to uncover some issues, no matter how well the home was maintained. Depending on the severity of the problem, buyers might want to back out of the deal entirely or request a credit in the amount of the inspection fee to cover the costs of repair. Some buyers might also use the results of the home inspection to negotiate a lower sales price, but others might simply agree to have the repairs done after they move in.
Inspection Fees
In general, the home inspector’s fee is the responsibility of the buyer. As such, it’s typically included in the estimate of closing costs your Realtor provides you with. This means that it’s important to find a home inspector you trust. Your real estate agent may offer some suggestions, or you can ask friends and family for recommendations. Regardless of where you get your inspector, make sure they are certified and have professional liability insurance (known as errors and omissions insurance), which protects them in the event they overlook something during an inspection.
It’s important to remember that while a home inspection is not technically required, it can help you avoid costly repairs down the road. Considering that a typical home inspection costs around $350, it’s a small price to pay for the peace of mind and security of knowing what you’re getting into before you close on your new home.
A home inspector will examine all readily accessible areas of the property, including exterior, interior, structural and mechanical features. They will look for issues like visible signs of moisture or water damage, electrical hazards and fire risks. They will also check that the home has smoke detectors and GFCI outlets, which can help prevent electrical shock and fires. If the home inspector finds any major problems, the buyers can use this information to request repairs from the seller or back out of the deal.
If you’re selling your home, a pre-sale inspection can help you sell it faster and for more money. In fact, the home inspector’s report can be used as a marketing tool to highlight the home’s positive features. Additionally, the home inspection can help you set a realistic asking price and reduce the likelihood of renegotiations over the final sales price.
When you’re choosing a home inspector, make sure they are licensed and insured and have years of experience. They should be members of professional organizations, such as the American Society of Home Inspectors or the International Association of Certified Home Inspectors. You should also be able to see their sample reports and client feedback online. Lastly, don’t be afraid to ask for references from previous clients. A good home inspector will be happy to provide them.
Inspections for Buyers
Typically, buyers will order an inspection and then use the information they receive to decide whether or not they want to proceed with the purchase. They can also request that the seller make certain repairs or concessions, depending on what is revealed by the inspector.
It’s not uncommon for an inspection to reveal some issues that a buyer may be concerned about, but it’s important for them to talk with their real estate agent about these concerns so they can come up with the best solution possible. For instance, they can ask that the inspector do a second inspection or get additional opinions from professionals such as plumbers or electricians before agreeing to the purchase.
For sellers, a home inspection can be stressful because they’re aware that the buyer will probably scrutinize the home inspection report very carefully. As a result, they’re more likely to be asked to do things such as repair or replace items, give credits towards the closing costs, or even walk away from the sale altogether if they can’t find a compromise.
The good news is that if there are some areas of concern with the home that can be easily resolved, such as minor cosmetic problems or unreported damage, a seller can choose to do so prior to listing. This can save the seller time and money in the long run and also help them avoid some potential headaches down the road.
Homebuyers should always keep in mind that if they’re dissatisfied with the service they receive from their home inspector, they can always contact their state’s governing body to discuss their concerns. If a resolution can’t be found, the homebuyer can file a complaint with the state and this can potentially affect the inspector’s license and reputation.
While many people focus on what a buyer should do following the results of a home inspection, it’s equally important that sellers know their options. A reputable and experienced real estate agent can help their clients navigate the situation by explaining how the home inspection process works, what to expect from an inspection, and what a typical reaction might be.
Inspections for Sellers
Most people who hear about home inspections focus on the benefit to buyers, but sellers can also reap many benefits from a pre-inspection. For one, a pre-inspection lets them know if something is wrong with the house before they start marketing it. This can save a lot of time and stress if there is a problem that could get in the way of a sale.
Another advantage is that a pre-inspection can let the seller decide whether or not to make repairs. This can be especially helpful if a potential buyer makes a low offer based on an inspection report. A seller can choose not to do the work and just accept a lower offer, or they can do the work and raise the price of the house to offset the costs.
Pre-inspections can also help sellers understand the condition of their home and use it to set an accurate asking price. A home inspector will point out any serious issues, but it is up to the sellers to decide if they want to fix them or just lower their asking price.
Sellers can be just as nervous about an inspection as buyers are. For one thing, if a home inspector discovers something major that was not disclosed by the seller, it can put a real damper on the sale. In some cases, this can even cause a deal to fall through. In addition, a seller may be forced to offer credits or concessions to the buyer that can reduce their net profits.
If the home inspector finds a small number of minor problems, such as a leaky faucet or a missing doorknob, the sellers can simply get them fixed before the house goes on the market. This can shorten the to-do list for the new owners and can make the house seem more move-in ready.
