Home Inspection 101 For Home Buyers


Home inspections are a standard part of buying a home, but many first-time buyers aren't really familiar with the need or the process. In fact, it's common to make mistakes in the home inspection process that can be costly. Understanding the facts behind home inspections can help ensure that you get the most out of the process. Here are some of the things that you need to know.

You Have To Pay For Home Inspections

You might think that a home inspection is included in the purchase price of a home, but that isn't the case. In fact, you have to pay for a home inspection separately from the cost of the home purchase. When you book a home inspector, that payment needs to be made right away and directly to the inspector.

You Should Attend The Inspection

When you're notified of the home inspection, make plans to be present when it happens. That way, you can ask questions of the inspector, observe the same things that he or she is seeing, and complete the same walkthrough of the property. This ensures that, when you receive the inspection report, you understand the information that you're looking at because you've already had the opportunity to discuss it and understand the severity of each potential issue.

You Can Use The Inspector's Report To Negotiate Your Sale

The inspector's report may reveal structural issues, electrical concerns, or other significant repair needs. If so, you can use that information to negotiate a lower price on the sale. In many cases, sellers will take the lower price if the buyer agrees to do the repairs themselves after closing. 

In other instances, you may want to negotiate for the buyer to complete those repairs before closing in exchange for the current sale price or even slightly more to offset the cost of that work. 

You Can Create A Checklist From The Remaining Issues On The Report

In addition to the work that you have addressed before closing, create a checklist of the other repair tasks needed according to the inspection report. That way, you can prioritize the work that you need to have done to keep your new home in the best possible condition.

These are some of the key things that every potential home buyer should know about the home inspection process. Talk with an inspector in your area today for more details and to schedule the inspection that you need for your potential home purchase. 

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