A home inspection is a valuable practice while selling a property. Mostly, homeowners believe that home inspection is a luxury, not a necessity. In reality, decisions become difficult for both buyers and sellers without a home inspection. Ultimately, each side wants the same thing so work on a deal that provides ease to both.
Therefore, it is recommended to have the house checked inside and out by one of the top professional home inspectors Chicago has. If you are unsure about how to hire or what to expect, here is a list of home inspection tips for first-time buyers and sellers.
1. Make the inspection official by writing a contract
Make the home inspection official by writing a contract as a contingency clause, which according to Investopedia is defined as;
A condition or action that must be met for a real estate contract to become binging.
This inspection contingency clause allows the buyer to set forth the time for the home inspection after signing the contract. So, the buyer has the chance to back out and get the money back if both the parties can’t agree on repair negotiations. Therefore, it is not enough to tell the seller verbally about the plan of home inspection.
If you are buying a house from a relative, it is a bad idea to set aside the inspection. According to Frank Lesh, who is the executive director ASHI and inspecting home since 1989 it could be a serious mistake.
Some maintenance issues are not apparent even if something is not deliberately hidden by the seller. Inspections are always the right of property holders according to a top-selling agent, Jesus Cardenas.
Tips for the sellers
Before closing any deal, 95% of purchased homes undergo inspections. Because the inspection is written in a contract as a contingency clause. When it comes to repairing, it is necessary to know about the options i.e
- Agree to fix the issue
- Offer credit to the buyer at closing the deal
- Refuse to take action against the risk that the buyer would walk away with the money.
Both parties should know the complications of the property and can be able to negotiate with all the facts.
2. Temper your expectations for a perfect inspection
Although the contract of the home inspection is detail-oriented still it does not cover each nook. Lesh said;
“We cant tear behind the wall to see if there is a leak behind the bathroom faucet or the bathtub. We cant take things apart to see why the dishwasher is making a funny sound. Other than removing the electrical panel, we don’t move furniture or appliances.”
We are limited in our ability to inspect things as the guest of the owner. For example, the inspector may not be able to reach all the windows, if there will be a sectional sofa in front of them.
Tips for the sellers
In an inspection report, the condition of a home is assessed. “Every house has an issue,” says Cardenas. Minor things will always turn up. Issues will come up even if you are buying a 30-year-old home or a brand new construction home.
Trust your agent to help solve what is minor and what is a potential deal-breaker.
3. Plan on being there through inspection
It is fairly standard for the buyers to watch the inspector while working. “The first thing I always do is I ask what their concerns are. Maybe they had an issue with a previous house, so they’re sensitive to that,” Lesh said.
Final inspections are sometimes difficult to understand. Plan on being there for the inspection, and ask a lot of questions. Being a buyer you should insist on detailed information on major home inspection issues. Therefore, the average home inspection takes about 2-3 hours.
Tips for the sellers
Seller already knows the conditions of the house as the buyers need this opportunity. Let your home inspector supervise the inspection and tells you about the problems.
4. Take a credit, or leave it be
A home inspection can trigger some delicate negotiations over a property’s defects.
- A buyer can request the seller to hire a contractor for fixing and obtain a credit ( a reduction in the purchase price) toward fixing it themselves.
- Sellers can simply accept or reject and negotiate the offer. Although this puts the purchase at risk of the buyer dropping off.
- Sellers should repair major structural issues or safety problems.
- Cosmetic imperfections like chipped paint can be left for the buyers to handle after purchasing the property.
5. Hire a professional with a solid reference
Home inspectors should be trained and certified to provide a detailed review focusing on individual components. If they don’t have the right expertise themselves, then they cannot accurately access the signs of the termites. This type of specialty inspections requires an additional fee.
Depending on where you live, radon testings are one of the common inspections for the buyers. Other special inspections cover termite or pest inspections, swimming pool inspections, and well or sewer scans. A special camera is inserted into the sewer line underground to see the proper functioning of the pipe.
An electrical inspection points ut any repairs to bring the property up to code. For instance, replacing an electrical panel and any outdated wiring and receptacles if your home is 10-15 years older.
Tips for the sellers
That is to say, be prepared for the home survey and have patience during the inspections. And also, keep tabs on the deadlines of the contract with the buyer.
Almost anything can be fixed
Share detailed reports and documentation with your real estate agent if the home inspector detects some issues. This information can be used as negotiating points with the seller. Certainly, it gives a completes overview of necessary repairing before moving-in. There are a few areas of inspection on which you can not negotiate. These major setback in an home inspection need immediate attention of the seller.
As a leading roofing company in Chicago, we can almost fix anything. Sometimes, your house just needs a little professional help to make it your dream house.
You can Depend on us
The new home inspection process is important for both buyers and sellers. By keeping in mind these tips sellers can prepare their homes properly and buyers can know what to expect. We hope these home inspection tips for both buyers and sellers make the inspection process a little easier. Contact King Builders’ services in Chicago for a smooth transition into a new home.