What looks great, may not always be good.
This is certainly true when it comes to buying real estate. There are many things that the untrained eye just can’t see, which is why property inspections are so important.
Inspections are a very important part of buying real estate! They can uncover hidden problems, help you to avoid unexpected expenses, and gain leverage in negotiations.
Buying a home is one of the largest investments you will make for yourself and your family. It just makes sense to have an expert objectively evaluate the condition of all components of a property, so you don’t end up walking blindly into costly repairs or remediation.
Property inspections can be a complicated topic. And because it can be too technical and time consuming to do an explanation of all of the many inspections available, it’s important to know some basics.
You can save money and skip an inspection, or do it yourself….
You only need to miss ONE major thing, or even a minor one, to see all that “savings” disappear.
So…Get Inspections that you need.
Attend the end of the inspections if you can. This will give the inspector the opportunity to inform you of everything that was found and you the opportunity to ask questions.
Even though you can and SHOULD read the inspection reports when you receive them, they’ll mean a lot more and you’ll understand everything better, if you’re actually present to discuss the details with the inspector.
Hire a licensed and experienced property inspector. Like any profession, you’ll find dedicated, competent, diligent providers. And you’ll find those who are lazy, incompetent, and inexperienced.
You can bet one’s cheaper and you can bet one costs more. Guess which one you should hire? You get what you pay for…right?
The big things may seem obvious to even an unexperienced person, however sometimes there are things lurking underground or behind walls, that cannot be seen, but can be VERY expensive to fix. A professional can be a great way to have an experienced set of eyes looking over the property.
Don’t try to represent yourself or use a friend or family member who has no substantial relevant experience.
It’s just smart to use a experienced and qualified licensed inspector. Someone who has been involved in many transactions will see and find things you won’t. And a knowledgable real estate broker will know how to renegotiate the deal if necessary.
Know that seller’s are supposed to tell you ALL about the property. But sometimes they do leave things out. These things an inspector will be looking for.
The idea of property inspections is simple. To investigate and discover each component. The structure; foundation, pests, electrical, fireplaces, appliances, plumbing, HVAC, and roof. Toxins ; asbestos, radon, mold. Infrastructure; sewer, septic, and well as needed.
Knowledge is Power… The price offered was offered based on what you knew and were informed of about the property. If something major comes up, it’s reasonable to ask for adjustments. It doesn’t mean you’ll get them, but you definitely won’t if you don’t ask. And if you don’t get what you want, you’ll have to decide if it’s really worth blowing the entire deal over.
Also it’s important to remember that a “used” property isn’t going to be perfect.
Sellers, you can always order property inspections before you sell, which can prevent unexpected and unwanted surprises later. It can help you to adjust your price accordingly. This can also be your second opinion, if needed later. It will show professionalism and honesty for additional negotiating and transactions.
Keep in mind that once you know about something “material”, as a seller in virtually all jurisdictions (in the U.S.), you’re required to disclose. You don’t want to misrepresent by not informing.
So whether your the buyer or seller, it’s best to get a quality property inspection from an experienced licensed inspector and use them to negotiate a fair deal to both sides. You may pay a little more, but you’ll sleep better at night.
Selling your home in Kokomo, Lafayette, or Zionsville Areas? Let me help you to make you the most money possible in the shortest amount of time. I offer sellers a professional, written marketing plan, the most progressive marketing strategies in the industry, consulting, and staging.
Give me a call, let’s get YOUR home listed and SOLD! (765) 210-5582
Gena Martin Realtor, Managing Broker
Posted on December 4, 2015 at 11:24 am by Gena Martin Realtor