KINGSPORT, TENNESSEE ? One of the most critical steps of the home buying process is the inspection. Whether you?re buying or selling, a good home inspection by a reputable inspector can give you an overall condition of the property from roof to foundation.
Passing on having a home professionally inspected is not a wise financial decision. Buying a home is one of the biggest investments you will make, so it is important to know the details behind the investment and whether you need to put any additional funds into the home once it?s yours. Even if the home is your dream home, not knowing that it will need every interior door replaced can cost you down the road.
When you buy a home, it?s important to remember you are buying all the home?s problems, too. Even short sale properties that are sold in ?as is? condition should undergo an inspection. These properties have been neglected, so by having an inspection you will be able to assess the total cost of the home, including problems that need to be fixed.
If you are the seller, having an inspection done before you put your home on the market will help you avoid any surprises when potential buyers have the home inspected. After the inspection, you will be able to make repairs, use your own contractor and satisfy potential homebuyers by disclosing repairs that are needed or recently fixed. This will also protect you from liability of nondisclosure claims.
A home inspection is an independent property review by a licensed home inspector whom the potential homebuyers hire to give them a written, unbiased, property condition report.
Areas that the home inspector will address are:
No inspector is an expert at everything, so he or she may recommend an additional inspection by someone who is experienced in the area they are not familiar with, such as termites, septic systems or foundation repair in Kingsport, Tennessee. While the additional inspection will cost more, if they find something wrong, it could save you thousands.
Once you are aware of the issues with the home, you now have negotiating leverage. You can ask that the seller make the repairs in the inspection contingency. There are several ways to go about this ? ask the seller to fix the issues, ask the seller to provide money for you to make the repairs or ask them to drop the price of the home to cover the cost of repairs.
It is up the seller on how to proceed and sometimes they will agree to fix some things but not others. In this case, you again have the leverage and can ask for additional repairs, a lower cost or you can walk away before any papers are signed.
Sometimes an inspection can give you a list of issues that will need to be addressed at a later date. This is great knowledge to have, as you can start saving for repairs without going into debt trying to fix something you weren?t prepared for.
The typical cost of a home inspection depends on the area you live in, the size of the home and the services the inspector is providing.
Having a home inspected before you enter into a mortgage will give you peace of mind. A home inspection is not something you should pass on, as its results can help you make your final decision on whether to purchase the home or keep looking for another.
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