Understanding Your Home Inspection
An Essential Guide For Buyers
The escrow period of buying a home is undoubtedly one of the most exciting and nerve-inducing portions of buying a home.
There are tons of vendors to schedule, paperwork to organize, and deadlines to meet.
One of the most critical and most misunderstood pieces of the escrow puzzle are the home inspection.
Unfortunately, if you don’t fully understand your home inspection, it could cost you in both the long and short run.
Today, we’re going to break down the basics of the home inspection so you can go into every escrow as prepared as a pro.
Your Responsibility As A Buyer
As a buyer, it is your job to schedule a home inspector to come in and assess the home you intend to buy within the allotted inspection period indicated on your contract. If you have hired a Realtor, they will usually handle this for you. However, it is important to note that this should be done as early in the inspection period as possible because if the report indicates some shortcomings that you want the seller to fix it will need to be tackled within the inspection period.
Their Responsibility As A Seller
One of the most common misconceptions that buyers have is that the seller is required to fix everything that turns up as broken in the inspection report. In reality, the seller is not required to repair anything cosmetic. The state law defines this as, "aesthetic imperfections that do not affect the Working Condition of the item," and the contract lists several examples. Also important to note: The contract specifically states that limited roof life is not considered a defect as long as there isn't "evidence of actual leaks, leakage or structural damage."
Resolving Conflict About The Inspection Report
Once the report comes back, you as the buyer have the right to request certain repairs and replacements be made and the seller then has the right to either agree, refuse or offer their own terms. Usually, the sellers will obtain quotes on the costs of the repairs to decide on how much they are willing to fix.
This portion of the negotiations can often be even more intense and complex as the initial negotiations about the price and a savvy Realtor really comes in handy at this point. If the seller doesn’t trust the results of the report, they may also independently hire another inspector to perform a second inspection to compare the two reports.
Superior Service Without The Premium Pricing
Not only do you deserve to have the highest quality service from your Realtor, but you also deserve to pay a fair price for that service.
At Uber Realty, we will never overcharge you the sky-high commission rates of 6% that those other guys demand. In fact, on average, we save our seller $6,000 on the sale of their property!
There’s no need to try and navigate the complexities of things like inspections and negotiations when you buy and sell real estate. Simply hire a Realtor that cares more about helping you achieve your goals than padding their own pockets.
For more information about how we can help you save thousands when you sell your property, email firstname.lastname@example.org.