Best of Luck,
Melissa Mancini, Realtor, CBR, GRI
Inspections are really important when relocating to a new area that may have issues that were unheard of where a buyer used to live. A good inspector will have the buyer walking away with a better understanding of the home they are getting into.
Now the issue becomes a contentious one between buyer trying to get the largest cash adjustment to reduce the overall cost of the property, and the seller trying to keep as much money as was originally agreed to on the purchase contract.
What results, is a renegotiation of the purchase contract to satisfy the needs and wants of the buyer's Inspection Notice. It's human nature to ask for more, because the buyer will anticipate that the sellers will not agree to every item requested.
What a smart seller would do and a good listing agent advise, is to pre-inspect the property before putting it on the market.
By doing a pre-inspection, pre-appraisal and including a Home Warranty on the listing, the sellers will sell their property faster and for more money. We call this the "No Surprises" guarantee.
I always advise my customers to hire an inspector. There have been several cases where the buyer was an experienced contractor or jouneyman tradesman and felt comfortable doing the inspection themselves, with out the need for a second opinion. - These people must sign a waiver agreeing that they have overruled my advice and have chosen to not hire an outside inspector. Those have turned out well in most cases.
This is kind of like that other trulia question should I hire a realtor or go FSBO. Should I hire an inspector. If you have to ask the question because you don't know the answer, then you need to hire an expert. - Of course I think John is just asking to get thediscussion moving.
Yes. Always and without exception. As a buyer, even if you are interested in an "as is" property, a home inspection is extremely important. Your agent should make sure that your offer includes wording that says your contract is contingent on your approval of the inspection. You don't want to walk into a bigger project than you planned. An inspection for a buyer is also a useful tool to plan and budget for improvements or upgrades that you may want to do in the future. Most lenders require an inspection and termite report. I would never purchase a home without an inspection, and I would never reccomend that a buyer do so.
As a seller, an inspection is an excellent tool. You may ask yourself, "why should I pay for an inspection if the buyer will most likely get one anyway?" All of my sellers have a pre-listing inspection. Knowing about and repairing any latent defects before listing is a great way to put your home on the top of a buyer's list. It shows that you have nothing to hide. Also it helps to assure that a contract will actually close. One of the worst situations is having some major problems come back on an inspection a couple of weeks before closing. Fixing these problems on short notice can be alot more expensive than if you were able to fix them when you listed your home. A buyer may actually be able to cancel their contract. You still have to disclose and fix the problem, or at the very least disclose and reduce your asking price accordingly for the next buyer. Your home now shows on the MLS that you have had a contract that was not completed and it has been taken off the market while it was under contract. Buyers and buyer's agents look at this as an opening to submit lower offers and ask for more concessions. I know that sellers want to sell their home with the lowest expenses possible, but the few hundred dollars up front that you would spend on an inspection could save you thousands in delayed and canceled closings, last minute repairs, extended days on the market, and final sales price. Remember that the goal is to sell your home for the best price in the least amount of time possible. An inspection is just one of the many tools you have at your disposal to help assure that you reach that goal.
Best of luck!
Below were some VERY good responses. Please go ahead and spend the money and get a home inspection - even if it is new construction (if you are thinking of purchasing). The headaches you will save yourself later by getting a home inspection now is priceless. Sometimes being frugal with your money is NOT always wise.
I just completed the reading of the requirements stated in the Texas Real Estate Commission's inspection report. It is very soft and frankly I doubt most inspectors are qualified to conduct a truly complete inspection of multi craft specialities. Can we really expect these inspectors to be qualified in HVAC, plumbing, electrical, appliance repair and structural engineering. I think not as each requires their own license.
I believe most of us could turn the appliances on and off to see if they work, walk around the house to observe cracks in the walls of foundations, see what you can of the condition of the roof from the ground (climbing onto the roof is not required by the check list), peering into the attic to see if it has insulation and checking the doors and windows to make sure they operate correctly and they are sound. Does the AC blow cold and hot? Oh good you just checked your HVAC. Hot water tap deliver hot water? Oh, good you checked you water heater. There are many more inane steps that anyone could perform.
So the real question is, do you believe several hundred dollars is a fair price to do something you just do not care to do for yourself. If so, it is worth it. If you want to tackle the job your self then go for it. But that has a snag as well, as it would probably require a third party to make a believable claim to required repairs. So what do you think?
Still remains the question is there real value delivered in these soft inspections?
There is no doubt that they are worth every penny and if anyone tells you different they are not looking out for you. A couple hundred dollars could save you hundreds of thousands if the house has a serious issue or defect. Hope this helps
I think it's great to always have a Sewer Inspector for properties that are older than 20-30 years old. You can get an inspector to scope the sewer for less than $100.
Also, having an inspector check out the main components of the house, such as plumbing, roofing and electric can also be very helpful. If you discover any problems with the home that you were not aware of, it gives you leverage to negotiate the price of the home down with the Seller. And the Seller will often work with you to either fix the problems discovered in the inspection, or to reduce the purchase price of the home. I have never regretted conducting an inspection on a property.
Get an inspection by an InterNachi or ASHI certified inspector.
Get a sewer scope.
Get a radon test if your area is a hot spot. (See the epa.gov site)
Get a mold test if you suspect it or if you are in a humid area.
Get a water test if you have a well or lead pipes.
Get local permit info if you suspect remodeling or additions.
Also be aware that building has progressed a lot over the last century.
Most hazardous materials and systems can be avoided simply by buying newer homes. Pre 1980 (roughly) homes can have a lot of issues just due to how they built back then (aluminum wiring, undersized electric panels, lead paint and pipe, asbestos mastics and insulations and tiles, terrible insulation, poor foundation drainage, moldy crawlspaces etc.). Roughly 2004 and newer are pretty safe bets to pass all areas of an inspection if they were not neglected...or grow houses.
InterNachi certified professional inspector | LEED AP | Architectural Designer
Most definitely. In Denver an inspection is anywhere from $200-$400. I have had clients save thousands of dallars on unseen and unexpected issues and problems that would have come up later.
Robert McGuire ASr
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
I could never do my job as well as I do without advising my clients that they do a home inspection and sewer scope. The $400-500 upfront is much better than having a $15,000-20,000 problem to handle later on.
REALTOR, CDPE, The Elite Team
Your Castle Real Estate
You should absolutely tour that home if it's new. And, keep inspecting it. I didn't discover a problem with my roof until a year later, and Richmond American fixed it without grousing or dragging their feet.
PML of Longmont
Economists talk about "symmetrical" and/or "asymmetrical" information. The idea is that markets function best when buyers and sellers have essentially the same information about a product, i.e. "symmetrical information." The reason is simple. I, as a buyer, am willing to pay a premium for a product I know to be in good condition, functioning properly, and likely to cause me few problems in the future. I'm willing to pay less if these conditions are not obvious.
However, if I cannot trust the information the seller is providing because I cannot verify it and I know the seller has a financial incentive to hide issues, then, economist suggest, I will assume that there are problems I cannot see and, thus, reduce what I am willing to pay to compensate for any unseen problems. In other words, very good products can be discounted because buyers have no choice but to assume issues will arise. (Think about how quickly new cars loose value when driven off the lot.)
The point is that home inspections by qualified inspectors help ensure that buyers have roughly (or exactly?) the same information about the condition of a home as do the sellers: hence symmetrical information. In fact, inspectors often uncover issues that the owner is not even aware of.
As a result, buyers can feel more comfortable paying extra for a really good house and make adjustments to pay less for homes with serious issues. This helps protect buyers. It also protects owners who are selling well-maintained homes because good homes are not automatically discounted to accommodate buyers worried about issues that do not really exist.
So, are home inspections worth the money. Absolutely. They help buyers find good homes. They help sellers of well-maintained homes get prices they deserve. The only people penalized are those who do not keep their homes in really good shape.
Prudential Real Estate of the Rockies
Can I feel comfortable with the report provided by a home inspector if they require that I sign a contract that absolves them from any responsibility for issues that may have been missed?
Can I feel comfortable when it is the broker that recommends a particular inspector? Would the inspector that always finds issues, and ultimately puts the sale of the home in jeopardy, be the one recommended?
I think that the prospective homeowner would do themselves a favor by learning what to look for - even a visit to look at city records on the property and just asking the neighbors what they know could provide a wealth of information. The internet also holds tons of advice on what to look for - just with a simple Google search. The issues that were "overlooked" by my inspector were incredible, and I feel like a fool for not having done my homework.
Many issues that crop up in the future when an inspection is not done. Also, it makes sense to use
Inspectors who are ASHI and in California , CREIA certified.
Don't you think a $200-$500 inspection is worth it?
Quite often these inspections catch an issue with a foundation or roof which costs, $70k in California
To replace a foundation or a Roof that may look just fine but harbor mold.
Get that home inspection before you close on a home
When it comes to things you need to do before buying a home, a professional home inspection tops the list. After you have signed a contract and it has been accepted by buyer and seller, you need to schedule a home inspection. Be sure that your contract indicates that the purchase is pending the results of a home inspection.
There are many home inspectors around. You can ask a friend, relative, or your Realtor for recommendations. Also search the Internet for local inspectors. The inspection should be completed by a certified or licensed home inspector. The cost is anywhere from $250 and up depending on the size of the home and the type of inspections performed. Also, plan to pay for this out of your own pocket up front as the buyer.
The purpose of the home inspection is to determine if the home has any potential or existing problems. It also gives you peace of mind knowing if there are any issues before you buy. You should be at the inspection with the inspector. The inspector can show and explain any problems that might be harder if you only received a written report. Most inspections take at least an hour and sometimes longer. In addition to seeing everything first hand with the inspector, you generally receive a written report with photos following the inspection.
What is typically included in an inspection? A home inspector will check the home structure, the water situation, as well as heating and electrical. You should also plan to get a separate termite and wood destroying organisms inspection from a pest control company. This is usually done for free and can be scheduled at the same time as the home inspection.
In Florida some other inspections that are offered are homeowner insurance inspections such as a 4 point insurance inspection, roofing certification inspection, and a wind mitigation inspection. These may have additional costs.
After the inspection is complete you can determine if you still want to go ahead with the purchase of the home. If there are problems that are too costly, then you can terminate the contract. An inspection can save you several thousands of dollars down the road, but again it also gives you peace of mind.
Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL - email@example.com
We sell brand new luxury homes and 'everyone' has an inspection. It's amazing that even after our contractors finish their puch lists a good inspector can still find some minor issues - which we are happy to address.
I saw that most answers were posted by agents and home inspectors, so I thought I'd share my experience as a first time home buyer! I just purchased a home in Lakewood, and following our agent's advice (and our intuition), we got a traditional home inspection and our sewer line inspected. Turned out there was an issue with he sewer and the seller paid to get it fixed... So our inspections saved us from making a $2,000 sewer repair! I would recommend to EVERYONE- GET YOUR HOME INSPECTED!!!
First Time Home Buyer
Principal, interest, taxes and insurance are just the beginning. Whether your a first-time buyer or thinking about moving up, you should plan for extra costs that could add up to thousands each year. Give yourself the piece of mind and get a home inspection.
Property Pros of America
Too often we'll hear stories of this step being skipped on buyers falling prey to all kinds of issues that would have been uncovered early in the process. Don't skimp on this at all.
Alan Strange, Team Leader
The Strange Team
Keller Williams Preferred Realty
Corporate Office: 303.452.3300
Some states have minimal standards and requirements for home inspectors and some do not. Even with state requirements, you still need to qualify your choice in home inspectors to best ensure you are getting your moneyâ€™s worth. Also, your Realtor may have some or one home inspector referral, itâ€™s still in your best interest to screen and qualify that home inspector. Donâ€™t assume the nicest Realtor is going to refer the best qualified inspector.
Consider this; you are relying on the professional opinion, the observation skills, technical knowledge and communication skills of someone you may interact with for only a few hours at most, in order to make an informed and confident purchase decision on a home. Are you willing to compromise your time to qualify and fee to hire a reliable and qualified home inspector professional?
Hereâ€™s are two scary, yet very real considerations:
â€¢ For states that donâ€™t have home inspector requirements, such as Colorado, your home inspector could have NO qualifications, have served in prison for federal offense and received a Certified Home Inspector credential from the internet. And you could be hiring that person to enter another personâ€™s home unattended. Then relying on their â€œprofessional opinionâ€ to make a home purchase decision.
â€¢ General Liability insurance. If your inspector doesnâ€™t carry it or an adequate coverage, YOU are generally liable since you are hiring the inspector to go on someone elseâ€™s property. What if something is stolen or damaged? Are you prepare to carry the liability because the home inspector you hired isnâ€™t?
Fortunately, there are a few simple questions you can ask to help ensure you are getting one of the many well qualified and reputable professional home inspectors.
Questions To Ask When Choosing A Qualified Home Inspector:
1. Do they carry general liability and errors & omission (E&O) insurance?
2. What, if any, standard of practice do they base their inspections (e.g., American Society of Home Inspectors (ASHI)?
3. What kind of certification, if any? ASHI Certified inspectors is the only third-party accredited certification. Some are simple online internet or correspondence courses.
4. What source & level of training, experience & education do they have?
5. How much time do they typically spend on an inspection?
6. What additional inspection techniques and tools do they use?
7. Are they impartial (e.g., independent of anyone with a financial interest in the results except the client)? Did they pay or compensate some way for the referral?
8. How do they present results? Are clients encouraged to attend the inspection?
9. What do their clients say? Do they guarantee client satisfaction?
10. How much is the fee and what is it based on? Is it competitive for the services and qualifications provided?
11. How do their qualifications compare to the price?
I hope this helps. Also see my blog (http://id-inspections.blogspot.com/) that goes into some more detail on Choosing A Qualified Homes Inspector and or our web site (http://www.id-inspections.com) for Downloadable a Worksheet to compare home inspectors with this qualifying criteria