There are many different home inspection contracts to choose from. It is important to understand the differences between the bottom line cost of a home inspection, the cost of the home inspection report, and the cost of a warranty. A home inspection is not a real estate inspection, but it is an important part of the home buying process.
The inspector will conduct a visual inspection, and if necessary, structural, mechanical, and electrical tests and evaluations. The report will include the defects and problems discovered during the inspection. The amount of detail in the report depends on the type of home inspection contract you choose.
After the inspection, many people will be presented with a home inspection report, and they may be surprised at the number of different issues discovered. After the inspection is completed, the inspector explains to the buyer what was found and what the buyer will need to do in order to fix the issues.
What You Should Do After Home Inspection
1. Read and Understand Your Home Inspection Report
After the inspection report has been delivered to you and you have read it, you will probably feel overwhelmed with all of the information. The first step is to make a list of the problems mentioned. Next, categorize the list of problems by level of severity and priority. It is important to address the big issues first. Some of the largest problems can be addressed by a professional home repair company. Be sure to ask the inspector if they know a company that can help with this type of problem.
2. Talk to Your Agent about the Home Inspection Report
Your agent should be able to point you to the sections of the inspection report that are important. The inspection report is extremely detailed, and it may take you a while to get through it. You will want to talk to a real estate agent about the inspection report prior to making an offer on the property. This is the time when the agent can guide you toward negotiation strategies. If the report reveals a major problem, your agent can help you negotiate a lower offer. If there is a small problem, they can help you decide if it is something you can handle yourself, or should you add it to the home inspection contract.
3. Make Reasonable Requests for Home Repair
The reason you wanted a home inspection is to identify problems with the property. You need to develop a reasonable plan for fixing those problems. Sometimes a seller will agree to fix some of the problems. In that case, the buyer should think about how the seller will pay for the repairs. It can be done with credit at the purchase price, or it may be something agreed to after the closing.
The next step is to negotiate a solution. Your agent will be able to give you advice on how to go about this. If you are presented with a home inspection report, and you find that you disagree with it in whole or in part, you can request that your agent present a counter-report. If the inspector agrees, this will be presented to the agent for the seller.
4. Determine the Cost of Repairs
The next step is to determine the cost of the repairs. This includes the cost of hiring a professional home repair company and the cost of the parts and materials.
It is important to be realistic. It is better to overestimate the cost of the repairs, because you may be surprised at the amount of savings that can be found. It is a good idea to have a budget for all of the repairs.
5. Make a Final Decision on the Property
You will want to read through the home inspection report carefully to decide if you can live with the problems. If you can’t, you may want to look for a different property. If you can, talk to your agent about making an offer. Think about the cost of the repairs, and then make an offer that includes those extra costs. Your agent can help you come up with a reasonable offer. If you have a home inspection report that lists a lot of problems, it is a good idea to talk to your agent before you make the offer.
A home inspection is performed by a trained professional who will examine the property and point out any problems that are discovered. The purpose of a home inspection is to reveal any issues with the property, so that the buyer can decide if they want to continue with the purchase of this home. The home inspection report is extremely detailed, and it includes both the problems with the property and the cost of repairing the problems.
Let's Do It Home Inspection offers professional home inspection services in Birmingham, AL. With our services, we help you prevent avoidable home repairs. Get in touch with us today!