Hiring A Home Inspector

Hiring A Home Inspector (edit/delete)





THE ART OF THE DEAL:
TIPS FROM ANDY RAFFLE





DO YOUR DUE DILIGENCE: ANDY RAFFLE ADVISES USE
OF HOME INSPECTOR PRIOR TO TAKING OWNERSHIP OF A HOME





The purchase of a home is one of the most significant investments any person can make. With such a sizable purchase, due diligence is important to ensure the quality of the product and. When buying a home, having the property inspected prior closing is a final, critical step in the process. Home inspection ensures the soundness of the investment and can help avoid the possibility of purchasing a property with major structural or other serious problems that may lead to significant unforeseen costs for the new owner.

Andy Raffle of Coldwell Banker Hearthside, Realtors advises homebuyers to do their homework before finalizing the deal on their new home. The following tips are a good starting point:

Hire a Certified Home Inspector: Rely on the objective expertise and training of a qualified home inspector. A certified home inspector is knowledgeable about construction practices in the area, will spot problems not apparent to an untrained eye and will provide a report on the condition of the property. An inspection normally takes place after the parties have agreed on a selling price. Typically, real estate contracts contain a provision giving homebuyers a set number of days in which to have a home inspection completed. Homebuyers can get referrals from their real estate sales associate, family, friends or neighbors of a reputable inspector before they purchase a home. The American Society of Home Inspectors (www.ashi.org) is also a good source.

Areas That Need to be Reviewed: It is important to examine all areas of the home, including the exterior, interior, kitchen and bathrooms, attic, basement, electric, plumbing and HVAC. Faulty construction, improper electrical wiring, inefficient insulation, old heating, building permit violations and other unseen pitfalls can lead to very expensive home repairs.

Search for Hidden Defects: Examples of hidden defects include missing roof shingles, chimney deterioration or leaks. It is also important to check behind walls. Mold, growing fungus or faulty wiring are often discovered in older homes. Make certain the home inspector looks in crawl spaces. Even small plumbing leaks can cause major problems and costs if not identified and corrected.

Review Visible Defects: Homebuyers should be aware of possible water damage, such as noticeable water stains on the ceiling, damp basement walls or musty odors. They should look for cracks in the walls, particularly around fireplaces or in foundation walls. Uneven floors and tilted stairways could indicate there has been movement in the foundation. Also, notice doors that are not perfectly vertical. If there is more space between a door and its frame at one end than at the other, the door is likely installed incorrectly.

Look for Minor Problems: Items such as doors or windows that are difficult to open or bad paint jobs may not be serious defects but could be signs of bad maintenance. Kitchen appliances should also be in good working order. Minor problems make for good negotiating points and can lead to the possibility of some concessions or a slightly reduced price from the seller.

Steps to Take After a Negative Inspection: If the purchase contract is contingent on inspection of the home, negotiate a price adjustment or ask the sellers to make repairs. If the problems are so significant that the home is no longer a worthwhile investment, get out of the deal and have all deposits refunded. Always have a lawyer review any agreements to make sure that there is adequate legal protection prior to the inspection process.

Remember the reason you’re having the inspection performed: A home inspections is typically a tool used to assure that there are no major costly defects in the property and to make note of minor or maintenance issues. A home inspection is typically not a tool that is used to negotiate smaller items. Remember that walking away from a deal for minimal repairs will end up costing the price of the inspection on the next property you find.

Be wary of inspectors who are close friends or associates of your agent: Your inspector needs to be working for you and not have any divide in their allegiances. It is human nature that sometimes people will do something so as not to interfere with a friends ability to do business. Also, if an inspector is receiving a stream of referrals from that agent, they may be less likely to point out defects that you’d want to know about. A referral from an Agent is a good starting place but, sometimes it’s a good idea to ask for three names.

Get estimates: If a repair of the property is called for in the report, make sure to have an estimate of the cost to complete the repair. Some inspectors will give their estimated cost to repair, others will not. Don’t be afraid to have a contractor look at the work that needs to be done and give you a written estimate to deliver to the Seller with your request. Telling a Seller they need to fix “X” without a dollar amount attached to it, just delays the negotiation of the item. If you are clear about the dollars, the Seller can make an immediate, informed, decision and may be less likely to bring in a different contractor.

Consider accepting a credit: If you’re able to do so, consider accepting a credit for any repair that might need to be done. Keep in mind that a Seller has a different idea of how an item should be fixed than does a Buyer who is planning to live with that repair for the next 10+ years. For instance if the 12 year old roof has an issue in a limited area, a Seller thinks “I can easily have it patched”. A Buyer thinks “I want a new roof”. The “right” answer is likely neither so the Buyer might be better off negotiating a credit from the Seller which they can then apply to replacement of the roof.




I hope you find these tips helpful and I also hope that you have explored my fully interactive Real Estate website, where you can search thousands of properties, read my real estate articles, my Bucks County Blog and find other useful information.


Andy Raffle

www.AskAndyRaffle.com

Coldwell Banker Hearthside. Realtors

Yardley, PA 215.493.9080