When you sign your offer for the property be sure the inspection addendum is included. The typical addendum will state the offer is contingent up your approval of inspection within ten days of mutual acceptance of the offer.
Mutual acceptance is when buyer and seller each have a completed agreement signed by buyer and seller. From the next morning you have ten days to complete the inspection and either accept the property, reject the property or provide the seller with a request for repairs.
Your inspector is a key player for you. If you have managed to choose an ethical experienced real estate agent to represent you, it will certainly be obvious by now, your agent will know which are the good inspectors.
Otherwise ask anyone you know who has recently purchased a home.
When you call the inspector to set the appointment ask them how long they have been inspecting and what they did before they became an inspector. I would not hire an inspector that had not been at it for at least five years.
Set the appointment so you can be there for the inspection..Â Some inspectors will ask that you show up a couple of hours after they start the inspection so they can walk through the home with you and explain what they have found.
Again this is another time an experienced agent can be very helpful. And they should also be at the inspection with you.
Clarity. Absolute clarity on anything the inspector finds. Sometimes when listening to an inspector it is difficult to determine the significance of an issue. So keep asking questions until you have clarity.
Often the bottom line is money. Is it a $50 issue or a $5000 issue and is the timing critical. Must it be repaired right away. Is it something you can repair or is a contractor required.
Sometimes inspectors donâ€™t realize the impact of how they explain things. I remember many times when a scary issue was explained that faded away to a minor item once enough questions were asked.
The inspector will email a copy of the inspection to you and your agent that evening or the next day at the latest. After you read though the report gather your agentâ€™s take and opinion and decide if there are issues you would like the seller to consider repairing.
The agent will prepare the addendum for your signature and forward the signed request to the sellers agent. Typically the sellers have two days to respond. If they will not make the repairs you have the right to move forward with your purchase or cancel the transaction.
All agreed upon repairs will be completed before Closing. Be sure to ask for receipts of any significant repairs so you have record and the phone number of the contractor.
Read the Inspection Addendum carefully. The deadlines dictated vary from area to area but are critical. Missing a deadline can be expensive.
If anyone tries to talk you out of having an inspection donâ€™t trust that person for anything. I strongly suggest to always have an inspection. Even I after all these years will not buy a personal residence without having it inspected. Buying a home is an emotional process and so easy to overlook or minimize costly issues.
Donâ€™t allow a seller, or anyone, to provide you with a recent inspection. Have your own and be there with the inspector and your agent.
Donâ€™t let anything or anyone deter you from your goal of owning your home.
After you gather up lots of useful information, and Trulia is a good source,Â you will find agents in your area availabe on Trulia. Practice your new skills after the artifcle, Consultation,Interviewing Real Estate Agents
The Methods and Information you find here have evolved through my thirty plus years of coaching and representing people purchasing their homes. I also taught this information and unique Methods to over 25,000 people who attended my Seminars For First Time Home Buyers. Now its all here for you on this site to visit at your convenience.
Best of Luck, Stephen Webber 34 Years of Real Estate for First Time Home Buyers